What’s, even more, exciting is that 10% of the office space is taken up as well. All this has happened 6 months ahead of the Tower Complex completion date as well. This is great news for the project’s backer GuocoLand and their Tanjong Pagar Center.
All this happened last Wednesday during the topping out ceremony at Toa Payoh Lorong 6 Condo, which had a special guest appearance of the National Development Minister Lawrence Wong, who was present during the ceremony that celebrated this S$3.2 billion flagship project’s milestone for Gamuda Evia Toa Payoh Condo.
Evia Toa Payoh Lorong 4 Condo
This 10% is just a small portion of the 890,000-ft.² total Net Lettable Area (NLA) that will also be utilized by both the Hong Leong Bank, as well as the GuocoLand Group, which are subsidiaries of the Hong Leong Group.
This movement to the new complex will allow the consolidation of GuocoLand’s Tung Center and their Robinson Center bringing them under one roof at this jewel in their corporate crown of Toa Payoh Condo. Hong Leong Bank will be relocating from the Collyer Quoy location. The exact amount of floor space to be used by both firms is still a closely guarded secret to prevent speculative rumors from spreading in Evia Real Estate.
Three other tenants have confirmed as well to take space at the Guoco Tower.
First, is DNB Asian limited, which is a shifting and offshore financing solutions provider.
Next, is Open Link who are risk management solution providers.
Finally, Regus, which is a global workplace provider.
If all goes well with current negotiations over 50% of the office space will be leased in the near future.
Gamuda Evia Toa Payoh Condo
In 2016 over 3.6 million ft.² of CBD will be put on the market, which includes Guoco Tower as well.
The Singapore managing director of GuocoLand, Cheng Hsing was pleased to announce that interest is high and leasing prospects and commitments will continue to pick up in the next few months.
He went on further to say that they are currently negotiating with over 30 companies that cover a wide range of interests from finance, consumer services, along with technology, insurance, fund management, and trading firms at Evia Real Estate Condo. In addition, as a side note, he mentioned that there would be at least one law firm as well, which amused the audience greatly. 30% of those companies are looking to lease multiple floors while the other two-thirds are looking for anywhere between 20,000 ft.² and 40,000 ft.² of floor space. He concluded his address.
Evia Real Estate Condo
Mr. Hsing during his speech on Wednesday went on to say that, the Gamuda Evia Toa Payoh Condo leasing market is not as exuberant as it was a few years ago. However, it’s not dead yet, as leasing activities are still actively going on.
More and more people are realizing that in order to expand their Evia Real Estate business and get the greater exposure they need to move to a higher class of accommodations for their companies. Moreover, with the opening of the Tanjong Pagar Center, such a prospect is now within reach.