SingLand advances Marina Square revamp with $99.1 mil land acquisition
Back in 3Q2023, SingLand got Provisional Permission from URA for the part redevelopment of Marina Square, that includes rezoning a section of the site for non commercial usage. The plan gotten in-principle consent under URA’s Strategic Development Incentive (SDI) system.
The land plot becomes part of the Marina Square facility, which consists of Pan Pacific Singapore, Parkroyal Collection Marina Bay, Singapore, Mandarin Oriental, Singapore, and Marina Square Shopping Center. The complex is located on a spot location of 92,197.3 sqm.
In a submission to the Singapore Exchange, SingLand specifies Marina Residential Property development has actually become part of 4 sale and investment contracts with Marina Centre Holdings (MCHPL), Hotel Marina City, Aquamarina Hotel and Marina Bay Hotel to obtain the land plot. Marina Residential Property development is a completely acquired subsidiary of MCHPL, that is mutually operated by SingLand and UOL Group. SingLand holds 77.34% of the business, whilst UOL possesses the maintaining 22.66%.
Singapore Land Group (SingLand) has publicized an inside rebuilding associating the sale of a 3,992 sqm (42,970 sq ft) land parcel at 6 Raffles Blvd inside of the Marina Square facility to its secondary branch, Marina Residential Project, for $99.1 million. This step combines control in advance of a suggested partial redevelopment of Marina Square, that undergoes regulating authorization.
The project is liable to regulative authorization, with SingLand anticipated to give further updates in 2026. Meanwhile, tasks at Marina Square and its resorts go on as normal. “The Project is going to add to the location’s makeover right into a vivid waterside lifestyle center,” SingLand mentioned, emphasizing its dedication to lasting and innovative city property.
SingLand’s revised proposition to URA, sent in 2H2025, intends to change Marina Square right into Singapore’s very first hyper-mixed project, with the add-on of 3 structures: a residential tower, a serviced flat block, and a mixed-use facility with hospitality, business office, and performing arts areas. The project is going to also boost the existing green location over Stamford Canal along Raffles Avenue, transforming it right into a 6,500 sqm public park. Additionally, the venture will include sustainability elements including alliance with the Marina Bay District Cooling Network.
The purchase is categorized as an interested individual purchase yet does not call for investor authorization, as its value is below the limit established by SGX-ST listing regulations. The Audit & Risk Board has actually evaluated the terms and located them to be fair and not biased to minority investors.
