Marina Gardens Lane – Government Land Sale (GLS) Site Analysis

In August, URA launched the tender for the Government Land Sale (GLS) site along Marina Gardens Lane. The site is zoned as a residential site with commercial at first storey. The plot has a maximum gross floor area (GFA) of 33,642 sqm and is expected to yield about 390 residential units and 150 sqm of commercial space. 

The tender closed on 15 October 2026 with one bid. EL Development Pte Ltd submitted the lone bid of $450.1 million ($1,243 psf ppr).

Location Analysis 

Overview

The Marina Gardens Lane GLS site is located in District 1 and the Marina South Planning Area. Under the latest Master Plan, the area is envisioned as a self-contained neighbourhood, with residents having access to a wide range of amenities within a 10-minute walk. Homes in Marina South will be integrated with malls, community facilities and green spaces, all connected by an extensive network of pedestrian-friendly walkways.

Notably, the site is near Gardens by the Bay and the Central Business District (CBD). This proximity presents potential  buyers with an opportunity to live near the financial district and still have nature right at their doorstep. This rare combination is expected to appeal to owner-occupiers and investors. 

Given its small plot size, a high GPR of 5.6, and an estimated capacity of 390 units, the site could be developed as a single high-rise tower or as a tandem of a taller tower and a shorter block. The units on the higher floors could be very appealing because these units offer potential views of either Gardens by the Bay or Marina Bay. 

Map of Marina Gardens Lane GLS site

Lifestyle and Recreation

The site is a short walk to renowned Gardens by the Bay which serves as a green sanctuary for nearby residents. The site is also a short drive to Marina Bay Sands and the Esplanade.  

Transport links

Another key feature of the site is its close proximity to Marina South MRT Station on the Thomson-East Coast Line (TEL). At the time of writing, the MRT station is not operating but the Land Transport Authority announced that the station will open when the surrounding residential developments are completed. 

The Marina South MRT Station is only one stop from the Marina Bay MRT Station on the TEL. Apart from the TEL, the Marina Bay Station also serves the Circle and North-South Lines, giving nearby residents easy access to all parts of the island. This easy connectivity is highly desired by most homebuyers.

At the same time, the site is also a short drive to Marina Coastal Expressway which will be appreciated by drivers.

Potential Buyer Profile

The subject site is the second residential site in Marina South to be placed for GLS tender. One Marina Gardens sits on the first GLS site. When the tender for the One Marina Gardens site closed, it attracted four bids and was awarded in July 2023 for $1,402 psf ppr ($1.034 billion) higher than the lone bid of $1,243 psf ppr ($450.1 million) for the Marina Gardens Lane site.

 Since its launch in April 2025, 937-unit One Marina Gardens has achieved a take-up rate of 72.6%, indicating healthy demand for condominiums in the Marina South precinct.

Thus far, One Marina Gardens is the only condominium within a 500m radius of the site. Additionally, the subject site is the only GLS site in the Confirmed List for 2H 2026 that is in District 1. The lack of condominiums in this neighbourhood could borne well for the successful bidder who will face limited competition for the future development. Potential buyers could include owner-occupiers who wish to live near the CBD as well as investors who anticipate rental demand from expatriate professionals working in the nearby financial district. 

Supply and Outlook

There are three 99-year leasehold condominiums within a 1km radius of the site, namely Marina Bay Residences, one Marina Gardens and W Residences Marina View – Singapore. Among the three, only Marina Bay Residences is completed while the remaining two are still under construction. 

At the time of writing, One Marina Gardens has 257 available units while W Residences Marina View – Singapore has 666 available units.

Conclusion 

Sites in central locations with unique locational attributes and strong transport links are still expected to attract interest from developers, which is fuelled by the resilient Singapore economy, strong household balance sheet and a low interest rate environment.

In August, the Ministry of Trade and Industry (MTI) upgraded Singapore’s 2026 GDP growth forecast to 4.5%–5.5% y-o-y, up from its earlier estimate of 2%–4%. Additionally, MTI just announced that Singapore’s economy grew by 5.4% y-o-y in 3Q 2026, higher than the 4.5% y-o-y increase in 3Q 2025.