White site at Marina View launched for sale
The White ground at Marina View has actually been launched to sell, and a property developer has already executed to propose at minimum $1.508 bil for the site, declared the URA on Mon 28June.
With a size of 7,817.6 sq meter, the ground appears under the Reserve List of the first half 2021 Government Land Sales program also is purposed for combined usage project with hotel, residential, commercial and/or serviced apartment.
The ground is predicted to offer 905 home flats, Five hundred Forty resort rooms and 2,000 square metre in GFA of commercial area.
Found inside of the Marina Bay location, the spot is close to the Marina Bay plus Downtown MRT stations, as well as the prospective Shenton Way Thomson-East Coast Line MRT station. It is additionally around the convention plus hotel hub at Marina Centre plus the integrated holiday spot at Marina Bay Sands.
The offer for the spot are going to conclude on 21September2K21.
“Every tender listed below the minimal tender figure of $1.508 billion will certainly not be signed,” said URA.
Huttons Asia predicts the spot to “entice no greater than five offerors made up of companies due to the sizable quantum also much higher uncertainties included”.
It observed the fact that at this time there is no new produce of homes inside Area One, aside from V on Shenton and Marina One Residences.
“With inoculations going on around the world plus international traveling recommencing quickly, this location offers a first mover advantage to developers that desire to introduce brand new hospitality conceptualization to travelers,” it claimed.
Huttons presumes the final price for the ground to settle from $One thousand Seven hundred to $2K psf and the prospective asking price at greater than $3,000 psf.