Downtown Singapore Is a New Property Playground
In about a decade, the city’s central business district will become more residential. That’s good news for landlords.
Nothing says home like a big hulk of steel and glass.
Photographer: Ore Huiying/BloombergSingapore’s property industry is coming to terms with the idea that, in about a decade, the city may no longer have a central business district. Landlords couldn’t be more chuffed.
There will still be offices, but without the rigid boundary between places where people work, and where they live and shop and dine. Local developer GuocoLand Ltd. is among the first to run with the Urban Redevelopment Agency’s draft blueprint for a makeover of Singapore’s landscape. The company’s S$2.4 billion ($1.8 billion) Midtown project, a two-minute drive from City Hall, will have a 30-floor office tower, a 32-story apartment block and about 32,000 square feet of retail. The design of the condominium units will be unveiled next week.