Award of tender for URA sale site at Marina Gardens Lane

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Award of tender for URA sale site at Marina Gardens Lane

Published: 11 July 2023

The Urban Redevelopment Authority (URA) has awarded the tender for the site at Marina Gardens Lane to the highest tenderer, Kingsford Huray Development Pte. Ltd., Obsidian Development Pte. Ltd. and Polarix Cultural & Science Park Investment Private Limited.

The site at Marina Gardens Lane was launched for tender on 5 December 2022. The tender for the site closed on 27 June 2023. The site was offered for sale on a 99-year lease term.

Details of the awarded site and the successful tenderer are provided below:

LOCATION	ALLOWABLE DEVELOPMENT	SITE AREA	MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA)	SUCCESSFUL TENDERER	TENDERED PRICE ($PSM of GFA)
Marina Gardens Lane	Residential with Commercial at 1st Storey	12,245.1 m²	68,573 m²	Kingsford Huray Development Pte. Ltd., Obsidian Development Pte. Ltd. and Polarix Cultural & Science Park Investment Private Limited.	$1,034,480,000.00 ($15,085.82)