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by OrangeTee & Tie Pte Ltd.

Thin home supply in Downtown area may stir more interest for Marina View site, triggered at S$1.51b

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Singapore, 28 Jun 2021

The white site at Marina View that was said to be triggered by IOI Properties at S$1.508 billion may be well-received by developers given the limited supply of new homes in the Core Central Region (CCR), analysts said. Given the large financial commitment required for the site, developers are expected to set up joint ventures to parcel out the risk.

The tender was launched for sale by public tender on Monday, and will close at noon on Sep 21, 2021, the Urban Redevelopment Authority (URA) on Monday said.

URA released the white site in Marina View for sale by public tender following a successful application from a developer - not named by URA - that committed to bid at least S$1.508 billion or S$1,379 per square foot per plot ratio (psf ppr) at tender. 

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