Tag Archives: Sophia Residence

GuocoLand posts loss of $13.3mil for Q1

GuocoLand said the group incurred a loss of $13.3 million for the third quarter ended 31 March 2013. This was mainly because additional construction cost was recorded for Goodwood Residence and Sophia Residence in the current quarter. Estimated completion cost for the two projects have increased as a result of the change in the projects’ main contractors. Nonetheless, both projects remain profitable.

During the current quarter, revenue for the quarter fell 12% to $92.4 million from $104.5 million a year ago.

In addition, independent valuations were carried out on the group’s investment properties, leading the group to recognise a net fair value gain of $31.8 million from its investment properties in other income.

Administrative expenses for the current quarter reduced by 21% as compared to the previous corresponding quarter. The decrease was mainly due to share option expenses written back for lapsed options and lower general expenses.

Meanwhile, GuocoLand also unveiled details of its first integrated mixed-use development in Singapore at the white site above Tanjong Pagar MRT station. Named Tanjong Pagar Centre, the 290-metre development will be Singapore’s tallest building.

Slated for completion in 2016, the centre will be anchored by a soaring tower housing premium office, retail and residential homes, linked to a luxury business hotel. With floor space totalling 1.7 million square feet, the integrated development will include:

  • Guoco Tower, a 38-storey, Grade A office block.
  • TP180, offering prestigious and limited collection homes above Guoco Tower, offering sea and city views.
  • Six levels of premium retail and F&B space integrated with Tanjong Pagar MRT station.
  • A luxury business hotel linked to the main tower.
  • A City Room integrated with the Tanjong Pagar City Park will be a vibrant community space for recreation and events.

Source : TheEdge – 2 May 2013

Tanjong Pagar Centre

The new condo at Tanjong Pagar is a landmark development from Guocoland which sits right above Tanjong Pagar MRT at Peck Seah street/Choon Guan street.

It is a SGD3 billion mixed development with residential, 5-star hotel, office and retail outlets rolled in one. The space spans about 500,000 square feet and the development will tower over the neighbourhood buildings with its 64 storeys, making it the tallest residences in Singapore at 280m when completed. Its 181 units of very exclusive and prestigious sky homes will offer unobstructed, panoramic views of the city.

The residential tower will be oriented in the North-South direction, minimizing solar heat gain and optimizing shade. At the very top will be a 3-storey super penthouse, with sweeping views to the north, east, and south of Singapore. The residents will enjoy the benefit of 2 amenities floor that will include a pool deck, 50 meter lap pool, sky gym, function rooms and BBQ area on Level 39. The second amenity floor at Level 52 will include a dining lounge, wine room, business centre and mini- theatre.

The centrepiece of the project will be a re-imagined Tanjong Pagar Park and a City Room, which will create unique public spaces that provide activity and open space to visitors. The City Room will include public art and outdoor performance areas, thus creating a vibrant public environment and extending the activity hours of the Tanjong Pagar Park well beyond business hours and provide weekend attractions.

The units will comprise 1 to 4 bedrooms, junior penthouses and a super-penthouse located right at the top of the tower. Industry sources view this development as a way for Tanjong Pagar to regain some of its lustre which has been affected by nearby Marina Bay.

The development is designed by Skidmore, Owings and Merrill LLP (SOM) which are famous for designing the Burj Khalifa, currently the tallest building in the world, and One World Trade Centre in New York, the first office tower to rise on the previous World Trade Centre site. In fact, SOM has designed 6 of the world’s 12 tallest buildings.
Developer Guocoland is recognized as a developer of eco-friendly projects which won it the Building and Construction Authority (BCA) Green Mark Awards for projects such as Goodwood Residence, Sophia Residence, Leedon Residence, The Waterline, Elliot and The Quartz.