A TIE-UP between GuocoLand and its Hong Kong-listed parent Guoco Group is poised to build a plush office, residential and retail project near City Developments-IOI’s South Beach - putting Malaysian tycoon Quek Leng Chan’s project near that of his City Developments (CDL) cousin Kwek Leng Beng’s.
The Urban Redevelopment Authority tender for the two-hectare Beach Road commercial site, which closed on Thursday, drew five bids. GuocoLand-Guoco Group’s S$1.622bil top bid works out to S$1,706.30 per square foot per plot ratio (psf ppr).
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