Over the years, GuocoLand has adapted in each lane too. In the Singapore residential segment, it used to develop mass-market homes before moving to high-end products that targeted both local and foreign buyers. That has repositioned GuocoLand into a recognised premium brand for residential developments.
When real estate company GuocoLand (SGX:F17
) purchased a site in Singapore’s Tanjong Pagar in 2010 to create its first integrated mixed-use development Guoco Tower, the move was a significant shift in strategy. Until then, the company was primarily a residential developer. Since then, it has broadened its portfolio to span various asset classes for sale and for lease in Singapore, China and Malaysia.
For group CEO Cheng Hsing Yao, switching to these “twin engines of development and investment” was crucial to kick the company’s growth into a higher gear. “Now, we have the best of both worlds: investment assets that provide us with a stable income base while we develop and sell residential properties that bring in higher profit.”
