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Government Land Sale (GLS) 2024

Marina Gardens Crescent Site Not Awarded To Sole Bidder

  • A Guocoland-led consortium put in a land bid of $770.5 million or ($984 psf ppr) for the Marina Gardens Crescent white site.

  • The bid was deemed too low and was not awarded by URA.

  • The bid price was nearly 30 per cent lower than the S$1,402 psf ppr that Kingsford Group paid for plot in Marina Gardens Lane in June 2023.

  • The bid is even lower than the $1,191 psf ppr bid closed for the Media Circle site, a residential with commercial at 1st storey site. The Media Circle site was awarded to CNQC Realty (Clementi) Pte. Ltd. and Forsea Residence Pte. Ltd. on 18 Jan 2024.

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