PROJECT DETAILS
The Urban Redevelopment Authority (URA) Singapore has sold a mixed development site in Marina View as part of Government Land Sales (GLS) in 4th quarter 2021. This land parcel is set in the Core Central Region, bounded by Union Street and Shenton Way. It is listed under the reserved lists of sites and is allocated to be developed into high rise mixed commercial retail units, hotel, office cum luxurious residential development. will yield approximately 905 residential apartments. The Marina View site comprises two plots - the 7,817.6 sq m land parcel, and a subterranean stratum 18 sq m in size. In all, the site has a maximum GFA of 101,629 sq m. A minimum 51,000 sq m is slated for residential use, with 26,000 sq m for hotel rooms and hotel-related uses. There is a maximum 2,000 sq m allowable for optional office use and another maximum 2,000 sq m for commercial use.
IOI Properties, the sold bidder, won the land site at S$1.508 billion or S$1,379 per square foot per plot ratio (psf ppr).
New and upcoming mixed development in Marina View is nearby to Shenton Way MRT Station serving the Thomson East-Coast Line (TEL). New Condo in Marina View is directly and seamlessly connected to Downtown MRT Station which serves the Downtown Line (DTL) and is linked to Raffles Place MRT Station which act as an Interchange for the East-West Line and North-South Line where residents can transit to more destination of options. Alternatively, future residents can access easily to Shenton Way MRT Station, which serves the Thomson East- Coast Line (TEL) and is scheduled to start its operation in 2021. The Marina Bay MRT Station which serves as the interchange for the North South Line (NSL), the Circle Line (CRL) and the upcoming Thomson East- Coast Line (TEL). These make commuting to all parts of Singapore as simple as it is, providing all weather connections to the public transport nodes.
For drivers, Orchard is just approximately 5 to 10 minutes’ drive away. It is close to the East Coast Parkway (ECP), the Ayer Rajah Expressway (AYE), the Central Expressway (CTE) and the Marina Coastal Expressway (MCE). All these expressways provide conduits of conveniences and make driving a breeze to any part of Singapore.
When it comes to retail, dining, leisure and entertainment facilities, future residents in Marina View can go to several malls within the vicinity. it is closeby to the integrated resort of Marina Bay Sands, the convention and hotel hub. Other malls nearby include Esplanade Mall, Marina Square, China Square, Chinatown Point, People’s Park Centre, People’s Park Comple, The Central, Funan DigitaLife Mall, Peninsula Shopping Centre, Raffles City Shopping Centre and Liang Court. For local food, future residents may experience the 6 main food centres nearby, i.e. Telok Ayer Market (Lau Pa Sat), Amoy Street Food Centre, Maxwell Market, Tanjong Pagar Plaza Block 6 Market and Food Centre, Hong Lim Market & Food Centre, Chinatown Complex Market & Food Centre and People’s Park Complex Food Centre.
There are many recreation clubs near to Marina View which offer both leisure facilities and activities such as Singapore Cricket Club, Home TeamNS Club and Singapore Recreation Club. The nearby parks such as Esplanade Park, Pearl’s Hill City Park and Fort Canning Park also offer residents in Central Boulevard serenity and also lush greenery.
With a superior location in the heart of Marina Financial District and closeness to so many amenities, demand for rental is high. Marina Bay Financial District is still not at its full potential and with the upcoming nearby Waterfront City in place, there will be huge potential for capital appreciation in Marina View. It will bring a whole new experience to the city living- a vibrant and exciting location to Work, Live and Play in.
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| Project | Mixed Development in Marina View |
| Developer | IOI Properties |
| Location | Marina View |
| District | 01 |
| Tenure | 99 years lease |
| Site Area | 7,817 square metres/ 84,142 square feet and a 194 square feet underground pedestrain link |
| GFA: | 1.1 million square feet (548,959 square feet for residential use, 279,861 square feet for hotel use and 43,055 square feet for commecial and office use) |
| Plot Ratio | |
| Expected TOP: | |
| Total Units | Approximately 905 residential apartments, 540 hotel rooms and retail with F&B outlets |
| Total Carpark | |
| Development | A mixed development comprising of hotel-rooms, office and commercial spaces and residential apartments |
| Unit Type: | |
| Architect | |
| Eligibility | SC, SPR and Foreigner can buy |
| New Mixed Development in Marina View Unit Mix Distribution | |||
|---|---|---|---|
| Unit Type | Type | Area (Square Feet) | Total No. of Units |
| 1 Bedroom | TBA | TBA | TBA |
| 2 Bedroom | TBA | TBA | TBA |
| 3 Bedroom | TBA | TBA | TBA |
| 4 Bedroom | TBA | TBA | TBA |
| 5 Bedroom | TBA | TBA | TBA |
| Penthouse | TBA | TBA | TBA |
| New Mixed Development in Marina View Facilities | |||
TBA
|
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| New Mixed Development in Marina View Price List | |||
|---|---|---|---|
| Unit Type | Area (Square Feet) | Pricing | PSF |
| 1 Bedroom | TBA | TBA | TBA |
| 2 Bedroom | TBA | TBA | TBA |
| 3 Bedroom | TBA | TBA | TBA |
| 4 Bedroom | TBA | TBA | TBA |
| 5 Bedroom | TBA | TBA | TBA |
| Penthouse | TBA | TBA | TBA |
GARDEN CITY BY THE BAY
LOCATED IN HEART OF KEY GROWTH AREA
Marina View- City Central Region
Singapore Urban Redevelopment Authority URA Master Plan 2014 envisions some exciting developments for the whole of Singapore's central area including Tanjong Pagar, The Greater Southern Waterfront District, City Hall, Marina Bay, Suntec and Bugis-Rochor area. The new prime City Central area will be a place for the people to engage community and arts, showcase Singapore's creative and artistic expression and links to Singapore's past and future aspirations. There will be more pedestrian- friendly precincts, public spaces and parks, night lightings and trees.
City Centre at Marina Bay is a unique and dynamic waterfront district, Garden City by the Bay, extending seamlessly from the CBD and it is zoned to be
- the next CBD, focusing on financial and business related activities
- More Commercial, residential buildings, hotel and entertainment spots are to be built.
- It will be a lifesytle destination for variety of water-based activities and events.
- Exensive road and rail network in the pipeline and
- Padestrain bridges that loops attractions and open spaces around the Bay.
Marina South will have
- a new population catchment as it will have a residential district of 9,000 new homes, with mix-development plan of hotels, offices and entertainment
- elevated landscape walkway that links the Bay South Garden to Marina South seafront
- 800 metres padestrain walkway beween the upcoming Marina South and Gardens by the Bay MRT Station
- underground carpark that allows motorists to drive between buildings that reduce ground level traffic
- feaures that can collect rain water and harness wind energy
- continuous waterfront promenade will be creaed from Marina South to Labrador for joggers and cyclists.
Beach Road/ Ophir- Rochor will have abundant conveniences being in the heart of City.
- It will be further of the CBD with extension of convention, offices and hotel hub of Marina Centre
- There will be more developments of office cluster for financial business institutions.
- It will be turned into an exciting Commercial hub, blending with entertainment, cultural and lifestyle.
- It will be turned into a strategic transport hub, the area will be well connected by rail and road network to many parts of Singapore.
Capitalising on Bugis and Bras Basah rich architectural and cultural heritage, URA is embarking on urban renewal efforts to transform it dramatically into Singapore's art, culture. learning and entertainment district.
From the cultural enclave of Kampong Glam to National Arts Gallery in the Civic and Cultural District to high skyscappers in Marina Bay, this growth area promises residents a 24/7 city lifestyle. New major landmark developments will transform the city skyline, offering prestigious address locations and spectacular views out across the city. Strategic developments with conservation buildings will continue to inject vibracy, turning it into a lively art and education place, as an emerging commercial hub that will complement Singapore financial district.
Government Land Sales GLS
IOI PROPERTIES WON GLS MIXED DEVELOPMENT LAND SITE IN MARINA VIEW
Malaysian developer IOI Properties Group emerged as the sole bidder and winner for a development site near Singapore’s Marina Bay at a government land sale tender.
For the Marina View “white site”, which can serve a range of uses including commercial, retail residential and hospitality, IOI entered a bid of S$1.508 billion ($1.1 billion) — matching the reserve price — and no competing offers came forth. The site just south of the Asia Square Complex, which is set to combine residential and hotel space with retail and office elements, comes despite demand for luxury housing having hit new highs in recent weeks.
The land parcel at Shenton Lane and Union Street measures 0.78 hectares (1.9 acres) and can yield 1,093,925 square feet (101,264 square metres) of gross floor area,
Under the CBD Incentive Scheme, which is part of Singapore’s Master Plan 2019, city planners seek to transform the central business district from a primarily office-centric area into vibrant mixed-use neighbourhoods, Tang noted at the time, with IOI’s new plot sitting amongst some of the region’s priciest office properties.
The site also fronts a planned linear green space that is set to become part of what city leaders foresee as a “green spine” connecting to the Marina Bay waterfront.
Home and Hotel
The terms of the land tender require that at least 51,000 square metres of the property be developed for residential use, not counting any serviced apartment elements. Another 26,000 square metres must be dedicated to hotel rooms or other hotel-related use.
The commercial element can only comprise a small percentage of the building, with the tender allowing for up to 2,000 square metres each of office and retail space.
“We see the opportunity to look at mixed-use development, a blend of two or more land uses such as residential, office, ancillary retail (supporting the community) or hospitality within a single, master-planned development,” Colliers’ Tang said.
In addition to connecting to the future Shenton Way MRT, the site is also close to the Downtown and Marina Bay Interchange transit nodes.
Best known for developing suburban townships in Malaysia, IOI established a presence in Singapore in 2007. Its projects in the city-state include the Seascape and Cape Royale luxury condos in Sentosa Cove and the downtown South Beach mixed-use complex, a joint venture with local builder City Developments Ltd.
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