SingLand advances Marina Square revamp with $99.1 mil land acquisition
Singapore Land Group (SingLand) has disclosed an inner rebuilding incorporating the sale of a 3,992 sqm (42,970 sq ft) land parcel at 6 Raffles Blvd inside the Marina Square facility to its secondary part, Marina Residential Property Development, for $99.1 million. This action combines possession in advance of a recommended partial redevelopment of Marina Square, that goes through regulating confirmation.
Back in 3Q2023, SingLand acquired Provisional Permission from URA for the part redevelopment of Marina Square, that includes rezoning a part of the site for non commercial usage. The plan gotten in-principle confirmation under URA’s Strategic Development Incentive (SDI) plan.
The project is accountable to regulative authorization, with SingLand anticipated to give further updates in 2026. Meanwhile, tasks at Marina Square and its resorts go on as typical. “The Project is going to add to the location’s change right into a dynamic waterside lifestyle centre,” SingLand specified, emphasizing its dedication to lasting and innovative metropolitan property.
SingLand’s revised proposition to URA, sent in 2H2025, intends to change Marina Square right into Singapore’s very first hyper-mixed property, with the inclusion of 3 structures: a residential tower, a serviced flat block, and a mixed-use structure with hospitality, workplace, and performing arts rooms. The project is going to also improve the existing green location over Stamford Canal along Raffles Avenue, transforming it right into a 6,500 sqm public park. Moreover, the venture will integrate sustainability components like alliance with the Marina Bay District Cooling Network.
The purchase is identified as an interested individual deal however does not need investor authorization, as its value is below the limit established by SGX-ST listing guidelines. The Audit & Risk Board has actually assessed the terms and discovered them to be fair and not biased to minority investors.
In a submission to the Singapore Exchange, SingLand mentions Marina Residential Property development has actually participated in 4 sale and investment arrangements with Marina Centre Holdings (MCHPL), Hotel Marina City, Aquamarina Hotel and Marina Bay Hotel to get the land plot. Marina Residential Property development is an entirely managed subsidiary of MCHPL, that is mutually managed by SingLand and UOL Group. SingLand holds 77.34% of the business, whilst UOL possesses the maintaining 22.66%.
The land plot belongs to 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.
