TWO major international investors have, for the first time, tied up with a Singapore company to develop a Government land sale site here.
City Developments Limited, along with Istithmar and Elad Group, signed a building agreement on Tuesday to build up the South Beach area in Beach Road.
The site is one of the most prestigious sites that have been offered for sale in recent years.
It occupies a prime and highly strategic location in downtown Singapore, surrounded by two distinctive districts - Marina Centre and the Civic district.
The Marina Centre is Singapore's key convention and hotel hub while the Civic district is home to many of the island's historic buildings and places.
Speaking at the signing ceremony, Minister of State for National Development, Grace Fu said this landmark development of South Beach will be a first glimpse into the exciting plans ahead for the Ophir Road/Rochor Road corridor.
She added that the area will be remade and developed as a mixed-use corridor featuring offices, hotels and other supporting uses.
It will also connect the established commercial node at Marina Centre to the Bugis area, injecting vibrancy and activities into the city area.
Giving a sneak peek into the upcoming South Beach architecture, Ms Fu said the design featured distinctive tower forms with sun-shading louvres, glass facade treatments and extensive sky gardens.
The winning concept proposal also provides an attractive and functional layout that served to integrate the pedestrian flow with the surrounding areas in Seah Street and Purvis Street.
Ms Fu pointed out that the sunken courtyards and tiered gardens lined with shops and cafes provided a seamless connection between the building forms of the past, the present and the future.
Building on this momentum, she added that the Government intends to build up the land parcels along Beach Road and at the Ophir Road/Rochor Road corridor.
These sites offer opportunities for the development of office buildings with large floor plate.
More details on this will be released early next year.
