SingLand advances Marina Square revamp with $99.1 mil land acquisition
In a submission to the Singapore Exchange, SingLand specifies Marina Residential Property development has actually participated in 4 sale and acquisition 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 managed 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 incorporating 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 action settles control in advance of a suggested partial redevelopment of Marina Square, that undergoes regulating confirmation.
The project is liable to regulative authorization, with SingLand assumed to present 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 change right into a lively waterside lifestyle centre,” SingLand specified, emphasizing its dedication to lasting and innovative city property development.
Union Square Residences condominium
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.
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 add-on of 3 establishments: a residential tower, a serviced flat block, and a mixed-use establishment with hospitality, business office, and performing arts rooms. 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. Moreover, the venture will include sustainability components including alliance with the Marina Bay District Cooling Network.
The procurement is categorized as an interested individual purchase however 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.
Back in 3Q2023, SingLand got Provisional Permission from URA for the sectional redevelopment of Marina Square, that includes rezoning a section of the site for housing usage. The plan gotten in-principle consent under URA’s Strategic Development Incentive (SDI) plan.
