Marina Gardens Lane site draws mixed forecasts despite prime location

Top-bid forecasts range from $1,350 to $1,650 psf ppr.

Property consultants offered differing forecasts for the newly launched Marina Gardens Lane government land sales site, reflecting both its attractive location and the growing range of land options available to developers.

Huttons Asia expects the mixed-use plot to attract no more than three developers, with a top bid ranging from $1,350 to $1,450 per square foot per plot ratio.

PropNex projected stronger participation of four to six bids and estimated that the highest offer could reach between $1,550 and $1,650 psf ppr.

The Urban Redevelopment Authority released the site for tender on 13 August under the second-half 2026 GLS Confirmed List. The tender will close at noon on 15 October.

The plot could yield approximately 390 private homes and 150 square metres of commercial space on the ground floor.

It is the third and smallest site to be offered in the upcoming Marina South precinct.

PropNex said the site’s more manageable development size could widen participation to include mid-sized developers seeking exposure to the area.

Huttons, however, said developers may become more selective following the relaxation of the additional buyer’s stamp duty timeline for large collective-sale sites. These opportunities, together with the GLS pipeline, provide developers with more land-acquisition options.

The earlier Marina Gardens Lane site was awarded for $1,402 psf ppr in July 2023 and is being developed as One Marina Gardens.

Meanwhile, the sole bid of $984 psf ppr for the nearby Marina Gardens Crescent white site was rejected by URA in 2024 after it was assessed to be too low.

Consultants said the sales performance of One Marina Gardens could provide developers with greater confidence in demand for the new precinct.

The project sold 38% of its 937 units during its April 2025 launch weekend at an average price of $2,953 psf.

Take-up subsequently reached 70.5%, or 661 units, as of 4 August 2026. Its overall average selling price stood at $2,969 psf.

The new Marina Gardens Lane site is near the upcoming Marina South MRT station on the Thomson-East Coast Line and will have underground access to the station.

It is also close to Gardens by the Bay, Marina Bay Financial Centre, the CBD and Marina Bay Sands. Some homes could offer unobstructed views of Gardens by the Bay, whilst the ground-floor commercial space will provide additional amenities.

However, PropNex said the limited availability of schools in the area could constrain demand from families.

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