S$3b mixed-commercial development may boost Tanjong Pagar
Tanjong Pagar Transformation
GuocoLand’s latest baby, a mega mixed-commercial development at Peck Seah Street/Choon Guan Street at Tanjong Pagar, may serve to give the CBD area a boost after its completion ever since the Marina Bay Financial Centre stole Tanjong Pagar’s limelight. And did we mention that this will cost $3 billion?
For those of you who don’t know, GuocoLand won the bid for this site last November at a price of $1.7 billion. This yet-unnamed development sits on Tanjong Pagar MRT and is a residential development, a hotel, offices and shops all rolled into one.
Spanning roughly 500,000 sqft, we heard it will be designed by architects Skidmore, Owings & Merrill and Architect 6. And at a height of 78 storeys, this one out shadows Skysuites@Anson’s 71 storeys. We can just imagine the view from the 78th storey! Experts reckon that the residences in this development may very easily sell for above $2000 psf since its location and breathtaking view will contribute to the selling price.
Coupled with the potential development of the outgoing KTMB train station and the proposed redevelopment of the Tanjong Pagar port, this area could become the next Marina Bay (minus the IRs of course).