SingLand advances Marina Square revamp with $99.1 mil land acquisition
Back in 3Q2023, SingLand acquired Provisional Permission from URA for the part redevelopment of Marina Square, that includes rezoning a section of the site for home usage. The plan obtained in-principle consent under URA’s Strategic Development Incentive (SDI) plan.
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.
SingLand’s revised proposition to URA, sent in 2H2025, intends to change Marina Square right into Singapore’s initial hyper-mixed project, with the add-on of 3 structures: a residential tower, a serviced flat block, and a mixed-use structure with hospitality, workplace, and performing arts areas. The project will definitely 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 integrate sustainability attributes including alliance with the Marina Bay District Cooling Network.
In a submission to the Singapore Exchange, SingLand specifies Marina Residential Property development has actually become part of 4 sale and acquisition 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 acquired 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 project is liable to regulating authorization, with SingLand projected to give further updates in 2026. Meanwhile, tasks at Marina Square and its resorts carry on as typical. “The Project is going to add to the location’s change right into a dynamic waterside lifestyle center,” SingLand specified, emphasizing its dedication to lasting and innovative metropolitan property development.
The procurement is identified as an interested individual purchase yet does not need investor authorization, as its value is below the limit established by SGX-ST listing policies. The Audit & Risk Board has actually assessed the terms and discovered them to be fair and not biased to minority investors.
Singapore Land Group (SingLand) has released an inner rebuilding associating 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 Project, for $99.1 million. This step combines control in advance of a suggested partial redevelopment of Marina Square, that undergoes regulating confirmation.
