Marina Gardens Lane
AwardedResidential with commercial at 1st storey. URA sale site, built as One Marina Gardens.
S$1,034,480,000
S$15,085.82 psm GFA, about S$1,402 psf ppr (derived). Awarded 11 July 2023 to Kingsford Huray Development Pte. Ltd., parent: Kingsford Group, Obsidian Development Pte. Ltd. and Polarix Cultural & Science Park Investment Pte. Ltd.
| Location | Allowable development | Site area | Maximum permissible GFA | Successful tenderer | Tendered price (S$ psm of GFA) |
|---|---|---|---|---|---|
| Marina Gardens Lane | Residential with commercial at 1st storey | 12,245.1 m² | 68,573 m² | Kingsford Huray Development Pte. Ltd., parent: Kingsford Group, Obsidian Development Pte. Ltd. and Polarix Cultural & Science Park Investment Pte. Ltd. | S$1,034,480,000(S$15,085.82) |
As listed at the close of 27 June 2023 (ura-pr23-20), with the outcome the award of 11 July 2023 gave each.
| Rank | Tenderer | Tendered price | S$ psm GFA | S$ psf ppr (derived) | Outcome |
|---|---|---|---|---|---|
| 1 | Kingsford Huray Development Pte. Ltd., parent: Kingsford Group, Obsidian Development Pte. Ltd. and Polarix Cultural & Science Park Investment Pte. Ltd. | S$1,034,480,000 | S$15,085.82 | S$1,402 | Awarded |
| 2 | GuocoLand (Singapore) Pte. Ltd., parent: GuocoLand Limited, GuocoLand Assets Pte. Ltd. and Intrepid Investments Pte. Ltd., parent: Hong Leong Holdings Limited | S$727,041,200 | S$10,602.44 | S$985 | Unsuccessful |
| 3 | Providence Properties Pte. Ltd. and CDL Constellation Pte. Ltd., parent: City Developments Limited | S$703,333,000 | S$10,256.70 | S$953 | Unsuccessful |
| 4 | Japura Development Pte. Ltd. | S$148,000,000 | S$2,158.28 | S$201 | Unsuccessful |
Press releases, latest first
Each card is one release on its own date, with its text folded beneath. The latest is first and open.
11 July 2023
AwardedAward of tender for URA sale site at Marina Gardens Lane
Awarded to
Kingsford Huray Development Pte. Ltd., parent: Kingsford Group, Obsidian Development Pte. Ltd. and Polarix Cultural & Science Park Investment Pte. Ltd., S$1,034,480,000 (S$15,085.82 psm GFA, about S$1,402 psf ppr).
Read the press releaseHide the press releaseura-pr23-26
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The Urban Redevelopment Authority (URA) has awarded the tender for the site at Marina Gardens Lane to the highest tenderer, Kingsford Huray Development Pte. Ltd., Obsidian Development Pte. Ltd. and Polarix Cultural & Science Park Investment Private Limited.
The site at Marina Gardens Lane was launched for tender on 5 December 2022. The tender for the site closed on 27 June 2023. The site was offered for sale on a 99-year lease term.
Details of the awarded site and the successful tenderer are provided below:
Table caption
| LOCATION | ALLOWABLE DEVELOPMENT | SITE AREA | MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA) | SUCCESSFUL TENDERER | TENDERED PRICE ($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) |
27 June 2023
Tender closedTender closing for URA sale site at Marina Gardens Lane
4 bids disclosed
Highest S$1,034,480,000 (S$15,085.82 psm GFA) from Kingsford Huray Development Pte. Ltd., parent: Kingsford Group, Obsidian Development Pte. Ltd. and Polarix Cultural & Science Park Investment Pte. Ltd.
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The Urban Redevelopment Authority (URA) closed the tender for the site at Marina Gardens Lane today.
The site at Marina Gardens Lane was launched for public tender on 5 December 2022.
Please see Annex A for details of the site and tender bids received.
This is not an announcement of tender award. A decision on the award of the tender will be made after the bids have been evaluated. This will be publicised at a later date.
5 December 2022
Launched for tenderURA launches tender for residential with commercial at 1st storey site at Marina Gardens Lane
Read the press releaseHide the press releaseura-pr22-46
The Urban Redevelopment Authority (URA) has launched a residential with commercial at first storey site at Marina Gardens Lane for sale by public tender today under the Confirmed List of the second half 2022 (2H2022) Government Land Sales (GLS) Programme.
Located in the Marina South precinct, this site can potentially yield about 790 residential units. Details of the land parcel can be found in Annex 1 and the location plan is in Annex 2.
A new community-centric residential precinct at Marina South Situated next to Gardens by the Bay and Marina Barrage, and overlooking Marina Reservoir and the Straits of Singapore, the 45-ha Marina South precinct has been planned as a mixed-use residential neighbourhood comprising a mix of residential, hotel, retail and some office uses.
Envisioned as a sustainable, car-lite and community-centric residential precinct, Marina South will be characterised by pedestrian-friendly streets, a comprehensive cycling network, a pedestrian mall and an underground pedestrian network connecting the two Thomson East Coast Line stations at Gardens by the Bay and Marina South. A series of planned elevated pedestrian connections will seamlessly connect the precinct to Gardens by the Bay and to the coast. The subject site is located next to the upcoming Marina South MRT station.
When fully developed, Marina South can potentially have more than 10,000 dwelling units, enjoying good access to amenities such as parks, public spaces, recreational options, shops and F&B outlets, as well as community facilities such as childcare centres. Future residents of Marina South will enjoy the benefits of a more sustainable precinct as developments in the area are required to attain BCA’s Green Mark Platinum Super Low Energy certification. To build a vibrant residential neighbourhood, the Government is studying various possible housing options to be introduced to realise the long-term planning vision for the precinct. The launch of the first land parcel at Marina Gardens Lane will kickstart the development of this new Marina South neighbourhood.
More information on the planning and urban design aspirations for Marina South can be found here.
Other details The tender for the Marina Gardens Lane site will close at 12 noon on 27 June 2023.
The tender closing for this site will be batched with an Executive Condominium site at Tengah Plantation Loop and a Commercial & Residential site at Tampines Avenue 11, both of which will be launched in the later part of December 2022 under the Confirmed List of the 2H2022 GLS Programme.
Site facts
- Selling authority
- URA
- Allowable development
- Residential with commercial at 1st storey
- Tenure
- 99 years
- Programme list
- Confirmed List, launched for tender[ura-pr22-46/pr22-46a.pdf]
- Site area
- 12,245.1 sqm[ura-pr22-46/pr22-46a.pdf]
- Maximum GFA
- 68,573 sqm[ura-pr22-46/pr22-46a.pdf]
- Estimated housing units
- 790[ura-pr22-46/pr22-46a.pdf]
- Height control
- Low-rise 15/10/4 storeys; mid-rise 30 storeys; high-rise up to 163m SHD[ura-pr22-46/pr22-46a.pdf]
- Facts as stated on
- 5 December 2022
Planning claims in the release
What the release said was planned for the precinct. Claims about the area at a date, not controls on this parcel.
- precinct: Marina SouthMarina South is planned as a 45-hectare mixed-use residential neighbourhood.
- precinct: Marina SouthThe precinct may ultimately accommodate more than 10,000 dwelling units.
- precinct: Marina SouthPlanned character: sustainable, car-lite and community-centric.
- precinct: Marina SouthPlanned networks include pedestrian-friendly streets, cycling routes, a pedestrian mall, underground links between Gardens by the Bay and Marina South MRT stations, and elevated links to Gardens by the Bay and the coast.
- precinct: Marina SouthDevelopments in the precinct are required to attain BCA Green Mark Platinum Super Low Energy certification.
- site: Marina Gardens LaneMarina Gardens Lane is described as the first parcel intended to kick-start the precinct.
The market when bids closed
When bids closed on 27 June 2023, URA's latest quarterly figures were for 1Q2023, published 28 April 2023, 60 days earlier. The next release, 2Q2023, came on 28 July 2023. The table carries on through four releases after it.
| Private residential | 3Q2022Oct 2022 | 4Q2022Jan 2023 | On the day1Q2023Apr 2023 | 2Q2023Jul 2023 | 3Q2023Oct 2023 | 4Q2023Jan 2024 | 1Q2024Apr 2024 | Trend | Change1Q2023 to 1Q2024 |
|---|---|---|---|---|---|---|---|---|---|
| Prices | |||||||||
| Private home price index | 187.8 | 188.6 | 194.8 | 194.4 | 196.0 | 201.5 | 204.3 | +4.9% | |
| Non-landed, core central region | 144.4 | 145.4 | 146.6 | 146.5 | 142.5 | 148.1 | 153.1 | +4.4% | |
| Private rental index | 137.9 | 148.1 | 158.8 | 163.2 | 164.5 | 161.0 | 157.9 | −0.6% | |
| Sales | |||||||||
| New homes sold by developers | 2,187 | 690 | 1,256 | 2,127 | 1,946 | 1,092 | 1,164 | −7.3% | |
| Resales | 3,719 | 2,694 | 2,622 | 2,976 | 2,900 | 2,831 | 2,689 | +2.6% | |
| Sub-sales | 242 | 204 | 243 | 285 | 355 | 411 | 377 | +55.1% | |
| Units launched | 1,455 | 504 | 1,312 | 2,374 | 2,805 | 1,060 | 1,304 | −0.6% | |
| Supply | |||||||||
| Unsold, uncompleted, with planning approval | 15,677 | 16,024 | 16,252 | 17,484 | 16,747 | 16,929 | 19,936 | +22.7% | |
| Pipeline with planning approval | 49,384 | 46,041 | 44,846 | 44,157 | 36,949 | 34,251 | 38,167 | −14.9% | |
| Vacancy rate | 5.7% | 5.5% | 6.0% | 6.3% | 8.4% | 8.1% | 6.8% | +0.8 pts | |
Each figure is the quarter's own value as URA printed it in that quarter's release, not as later revised. Select a figure to see the annex and page it comes from.
Held back: URA prints the number in more than one place and the table's labels do not settle which one it is, so the archive stores it but does not show it.
Sources
- Press releasePublished 5 December 2022
URA launches tender for residential with commercial at 1st storey site at Marina Gardens Lane
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- bc115f40ed6bf31bb789e7dc61cf147ad1ff2fdafde99358322328bacee96cce
- Size
- 440,998 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 12:12:40 UTC
- Prevo reference
- ura-pr22-46
- AnnexPublished 5 December 2022
Annex 1 to URA launches tender for residential with commercial at 1st storey site at Marina Gardens Lane
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 88b061974de674b53716d7fcee118bffce2bcc04fca8a77b0aaf718622705bfe
- Size
- 14,077 bytes
- Format
- application/pdf
- Retrieved at
- 2026-09-18 12:12:40 UTC
- Prevo reference
- ura-pr22-46/pr22-46a.pdf
- AnnexPublished 5 December 2022
Annex 2 to URA launches tender for residential with commercial at 1st storey site at Marina Gardens Lane
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 2de2811a3eeccb79bd67313888a581036587b1b74904bcff39f99c2054be109e
- Size
- 177,707 bytes
- Format
- application/pdf
- Retrieved at
- 2026-09-18 12:12:40 UTC
- Prevo reference
- ura-pr22-46/pr22-46b.pdf
- Press releasePublished 27 June 2023
Tender closing for URA sale site at Marina Gardens Lane
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 4f44005580c63d95e943217b2d49698a12bfe80975d0d7fdd75db4cb51a88cd1
- Size
- 424,497 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 14:52:11 UTC
- Prevo reference
- ura-pr23-20
- AnnexPublished 27 June 2023
Annex A to Tender closing for URA sale site at Marina Gardens Lane
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- 27b5233862b4cd59f659211491d1e25413832f75f3de5606e4086c3db1fbc0cb
- Size
- 10,437 bytes
- Format
- application/pdf
- Retrieved at
- 2026-09-18 14:52:11 UTC
- Prevo reference
- ura-pr23-20/pr23-20a.pdf
- Press releasePublished 11 July 2023
Award of tender for URA sale site at Marina Gardens Lane
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- b37583c00bfde6254537e73a58b0630b0af004ca05cbd7d55589e8c6270c8a5e
- Size
- 449,537 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 14:52:11 UTC
- Prevo reference
- ura-pr23-26