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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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