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The Urban Redevelopment Authority (URA) has awarded the tender for the site at Marina Gardens Lane to the highest tenderer, Kingsford Huray Development Pte. Ltd., Obsidian Development Pte. Ltd. and Polarix Cultural & Science Park Investment Private Limited.
The site at Marina Gardens Lane was launched for tender on 5 December 2022. The tender for the site closed on 27 June 2023. The site was offered for sale on a 99-year lease term.
Details of the awarded site and the successful tenderer are provided below:
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| LOCATION | ALLOWABLE DEVELOPMENT | SITE AREA | MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA) | SUCCESSFUL TENDERER | TENDERED PRICE ($PSM of GFA) |
|---|---|---|---|---|---|
| Marina Gardens Lane | Residential with Commercial at 1st Storey | 12,245.1 m2 | 68,573 m² | Kingsford Huray Development Pte. Ltd., Obsidian Development Pte. Ltd. and Polarix Cultural & Science Park Investment Private Limited. | $1,034,480,000.00 ($15,085.82) |