Singapore, 30 Jun 2023 Two 99-year leasehold government land sites, in Marina Gardens Crescent – the second plot to kick-start development of the 45ha Marina South precinct – and Media Circle in one-north, have been released for sale via public tender.
As this is the first white site launched in the Marina South precinct, it will have first-mover advantage in providing amenities there, OrangeTee & Tie deputy chief executive Justin Quek said.
“The future supply of homes and amenities in the Marina South precinct will depend on how fast the Government aims to develop the area. No new plots were announced for sale in that precinct in the second half of 2023 GLS programme, meaning that it may be some time before the next plot is launched for tender,” he said.
But developers will also take into consideration supply from nearby upcoming new projects such as Newport Residences, Skywaters Residences and Marina View Residences, he added.
Expatriates with children enrolled in the nearby Tanglin Trust School may also contribute to rental demand, Mr Quek said.