The Building Agreement for the Marina View (Land Parcel B) sale site was signed on 18 March 2008 between the Singapore Government and MGP Kimi Pte Ltd during a ceremony held at The Fullerton Hotel. Ms Grace Fu, Minister of State for National Development was the Guest of Honour at the event.

MGP Kimi Pte Ltd was awarded the tender for the Marina View (Land Parcel B) sale site on 5 December 2007 with a successful bid of $0.95 billion. The developer had earlier clinched the bid for the Marina View (Land Parcel A) sale site at $2.02 billion and was awarded the tender for this site on 25 September 2007. The Urban Redevelopment Authority (URA) was the Government’s sales agent for both sites, which will be home to premium office developments. The project also marked the developer’s first successful participation in the Government Land Sales programme in Singapore.

Exciting growth of a global business hub

Both sites will be developed jointly, and will represent another important chapter in the Marina Bay growth story, along with the transformation of Singapore’s business and financial district. The sites, with strategic locations just next to the existing Central Business District at Raffles Place, along with other prime office developments such as One Marina Boulevard, One Raffles Quay and Marina Bay Financial Centre, will form the nucleus of a cluster of new Grade A office developments within Marina Bay. This corridor is poised to become the pulse of financial and business-related activities within the lively waterfront area.

The Marina View development will also put Singapore on track to realising the Government’s plans to double the size of our financial district. It is part of the new growth area set aside for the seamless extension of the existing financial district at Raffles Place/Shenton Way/Tanjong Pagar that will be more than twice the size of London’s Canary Wharf. With this new growth area and financial district in Marina Bay, Singapore will be well-positioned to attract even more financial institutions and business services to cement its reputation as an international financial hub.

Striking another first for the Bay

This new development will not be just another office block. It will be the first office complex in Marina Bay to be integrated with a luxury hotel consisting of at least 220 rooms. Together with the other retail and food and beverage (F&B) outlets in the office complex, the Marina View development will reinforce our vision to make our city centre a lively, pulsating 24/7 hub, not just for business but also for play.

This future development will see two towers with more than 40 floors on top of a 20-m tall podium. The North Tower will be located on Land Parcel A with a proposed GFA of about 130,000 sqm, comprising mainly Grade A office space. A good mix of retail and F&B uses will take up the first and second floors of the tower.

With a maximum floor area of 113,580 sqm, the South Tower on Land Parcel B will include prime office space and luxury hotel rooms. Both towers will adopt advanced technology to maximise environmental sustainability and minimise operating costs.

The project is expected to be completed around 2011 or 2012. Australian architectural firm Denton Corker Marshall has been appointed the project’s lead design consultant.