GuocoLand Ltd is one of the most prolific developers in the real estate market in Singapore, as well as other Asian nations.
Boasting a market capitalization level of S$8.8b (as of Dec 31st, 2015), it has assets and integrated developments in various Asian countries; namely Singapore, China, Malaysia, and even Vietnam.
Particularly in Singapore, it has been listed for a relatively long time since 1978, and is helmed by the Malaysian banking and property tycoon, Quek Leng Chan. The company itself, is part of a larger conglomerate of companies, as the real estate flagship of the Hong Leong Group.
The corporate structure of the group comes from from the Hong Leong group, which is the parent company of the Guoco Group, which is listed on the Hong Kong stock exchange. Guoco Group owns a controlling stake in Guocoland Ltd, which controls the four arms of the Guoco group’s various interests in Singapore, China, Malaysia and Vietnam.
Apart from Singapore, Guocoland Ltd possesses a vast residential and commercial property portfolio, having invested and developed in several key high profile projects in Malaysia as well as China and Vietnam.
In Singapore alone, the Group has successfully developed and sold 33 residential projects yielding more than 9,000 apartments and homes over the last 25 years.
These include, namely, the 2.3 million sq ft Damansara City project in the affluent Bukit Damansara neighbourhood, and various projects in China, including the massive Changfeng Residences in Shanghai. In Singapore, it owns a premium piece of commercial real estate in the form of the office tower at 20 Collyer Quay.
In 2015, Guocoland received a major influx to its accounts from the development of the humongous 1.7 million sq ft Tanjong Pagar Centre integrated complex.
The complex consists of commercial, hotel and residential properties and sits atop the Tanjong Pagar MRT station on a prime site just a few hundred meters or so away from the next major city waterfront project where the current port sits.
It was predicted by analysts that even at conservative estimates of a market valuation of S$2,500 PSF at that point of time, the project would have been worth some S$4.2 billion.
Most recently, the company shelled out S$595.1 million for a 99-year leasehold 1.6-hectare site at Martin Place, to develop a condominium called the Martin Modern, right smack in the heart of District 9.
Doing the math – Guocoland shelled out S$1,239 per square feet per plot ratio. It’s believed then, at such a price, Guocoland has broken the price record for a government residential site outside of Sentosa.
In doing so, Guocoland beat off 12 other developers to secure the hotly contested site, a sign of its massive war chest and industry experience. No surprise then, that the group collects armfuls of awards every year, such as the Winner of the Residential Category(2015) from World Architecture News Asia Awards 2015, and even the Winner of the Residential Category from the FIABCI Prix D’Excellence Awards 2015 & Singapore Property Awards 2015.
Guocoland will continue to remain and grow as a major player in the Asian commercial and residential markets for years to come, so it seems.