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Marina Garden Crescent
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The Marina Gardens Crescent site is a significant development in the Singapore real estate market, particularly in the context of Government Land Sales (GLS).
- Location and Site Details: This site is located in the Marina Gardens area and spans approximately 1.73 hectares. It is designated as a white site, which allows for a mix of residential and commercial development.
- Development Potential: The site is estimated to yield around 775 residential units and 64,560 square feet of commercial space.
- Tender Process: In January 2024, the site drew a single bid from a consortium comprising GuocoLand, Hong Leong Holdings, and TID Residential Pte. Ltd., amounting to $770.46 million. However, this bid was assessed as too low, and the site was not awarded.
- Current Status: As of the latest updates, the site remains unawarded due to the sole bid being deemed insufficient.
- Development Potential: The site is estimated to yield around 775 residential units and 64,560 square feet of commercial space.
- Tender Process: In January 2024, the site drew a single bid from a consortium comprising GuocoLand, Hong Leong Holdings, and TID Residential Pte. Ltd., amounting to $770.46 million. However, this bid was assessed as too low, and the site was not awarded.
- Current Status: As of the latest updates, the site remains unawarded due to the sole bid being deemed insufficient.
This site is part of the broader development plans in the Marina Gardens area, which has seen other projects like Kingsford's One Marina Gardens, where recent launches have shown significant sales activity.
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