Huttons Asia’s CEO, Mark Yip, has shared insights on the Marina Gardens Lane Government Land Sales (GLS) site, the third in the Marina South precinct to be offered for sale. This area is being developed as a mixed-use, sustainable, and community-centric district, strategically located next to Gardens by the Bay and near the upcoming Therme Singapore wellness attraction, set to open in 2030.
The first site in Marina Gardens Lane was sold for $1,402 per square foot per plot ratio (psf ppr), whilst a bid for Marina Gardens Crescent was rejected for being too low. Demand in this new precinct has been robust, with One Marina Gardens selling over 70% of its units since its launch in April 2025.
The new site will feature retail amenities on the ground floor and an underground link to Marina South MRT station, enhancing connectivity to the Central Business District and other parts of Singapore via the Thomson-East Coast Line (TEL).
Yip noted that the recent relaxation of the Additional Buyer’s Stamp Duty (ABSD) timeline for large enbloc sites could lead to more collective sale launches. This, combined with the GLS programme, offers developers a wider range of choices, potentially making them more selective in their acquisitions. The site is expected to attract a top bid between $1,350 and $1,450 psf ppr from no more than three developers.
