The Urban Redevelopment Authority (URA) awarded the 7,817.6 sq m white site of Marina View to Boulevard View Pte Ltd on 29 September 2021 within three months of its launch on 28 June 2021.
Tender for the 99-year Marina View site closed with just one bid, at $1.508 billion — just $101 greater than the original price Boulevard View Pte Ltd initially secured when it applied for Marina View to be released from government land reserves.
What is a white site?
White sites such as Marina View are versatile plots of land that can be used for commercial, hospitality, residential and recreational purposes, or a mixture of two or more. For example:
- Serviced apartments
- Recreation club
- Convention/ Exhibition Centre
The Marina View site is intended for a mixed-use development and is expected to yield 905 private home units, 540 hotel rooms and an assortment of recreational and entertainment options (within 2,000 sq m of gross commercial space) by 2028. The URA has stipulated a seven-year project completion period for the site, longer than the usual five years for a typical residential development site.
Long-term investment prospects high for new launch condo at Marina View
A property analyst pointed out that the bid price for Marina View fell short compared with other recent Government Land Sales residential sites in the Central Business District (CBD). However, it could be a blessing in disguise.
From April 26 this year, companies were allowed to recall 100% of staff members back to the office, effectively bringing CBD activity back to its pre-pandemic levels. This return to normal could boost prices of centrally located property, including the upcoming condo launch on the Marina View site.
Expectations are still high for the upcoming condo launch at the white site. A wholly-owned subsidiary of the Malaysian IOI Properties Group, Boulevard View Pte Ltd is no stranger to the Marina View area. In late 2016, it secured the white site of Central Boulevard for a price of $2.57 billion or $1,689 psf ppr, to be developed into a Grade A office space with lifestyle amenities which will no doubt help them develop a residential facility that facilitates work-life balance once again.
What new residents can expect from living at Marina View
Future residents at the Marina View site can expect to enjoy an entire slew of new amenities sprouting from URA’s transformation plans for the CBD as well as the highly anticipated Greater Southern Waterfront. According to the URA Master Plan 2019, the CBD of the future will not just be a mere business hub, but a dynamic neighbourhood that offers plenty of recreational and lifestyle options even after office hours.
Dive Deeper: URA Reveals Housing Plans for the Next 50 Years
As the white site is located prominently along Marina View and next to Shenton Way, two key roads within Marina Bay and the CBD, it enjoys easy access to amenities such as Singapore Conference Hall, Singapore Chinese Cultural Centre and Lau Pa Sat for a myriad of cultural, recreational and entertainment options at Marina Bay.
Transport to Singapore’s major business districts
Living at Marina View is an obvious choice if you’re working in the CBD. As a district that is largely dominated by office skyscrapers and commercial buildings, residential units in the area are hard to come by. Marina View presents a not-so-common opportunity for business professionals to live directly next to their office now that daily commutes are becoming a norm once again.
We may not be able to enjoy working from home all the time, but what could be better than popping back home within five minutes to whip up a quick lunch or to get office supplies that you forgot during the day? Even for households with family members working in different locations, Marina View’s plethora of transport options makes it a versatile choice no matter your working arrangements.
- Take a leisurely stroll to the upcoming Shenton Way MRT in about 3 minutes, and to Tanjong Pagar MRT in 7 minutes, which also happens to be directly below office spaces within International Plaza.
- Get to Raffles Place MRT in two short stops from Tanjong Pagar MRT.
- Ride buses 106, 133 and 97 directly to the Marina Bay area in 20 minutes.
- Get to Orchard Road in less than 30 minutes via a direct route from Marina Bay Interchange MRT. Alternatively, buses 162 and 167 also offer direct routes to your destination.
Marina Bay is also well served by major expressways including the Marina Coastal Expressway, Ayer Rajah Expressway and the Central Expressway. The area has also been planned with an extensive netweork of shaded walkways and both underground and second-storey pedestrian links for a pedestrian-friendly district.
Though situated in a cosmopolitan business hub, Marina View has no shortage of affordable local delights in the area. Whether you’re looking for a quick bite to start the day, or something to stave off hunger pangs in the evening, you’ll be spoilt for choice at Maxwell Food Centre located just 9 minutes away. Indulge in the nostalgic flavours of fuzhou oyster cake, handmade ngoh hiang and the classic hainanese chicken rice for prices that are light on the wallet for a guilt-free experience.
But if you don’t fancy travelling, you can still treat yourself to a breakfast of classic kaya toast bread or scrumptious suppers of prawn mee and teochew fishball noodles by walking 7 minutes to Amoy Street Food Centre. Our Muslim friends will also be delighted to know that 100% halal Mentaiko Salmon and Szechaun Black Bean Salmon bowls can be found at the Big Bowls Project here if they are looking for some Chinese-Japanese fusion dishes.
If you know the CBD, you will know that there are simply too many delicious options to be realistically listed in a single blog post. But to give you an idea of the variety that exists in the region, honourable mentions go to Tanjong Pagar Plaza Block 6 Market and Food Centre, Tao Seafood Asia and Jewel Coffee Shenton Way.
It wouldn’t be a complete Marina View review without mention of the IOI Central Boulevard Towers. Located just down the street next to Asia Square Tower 2, you will be able to walk over to the office in just 7 minutes if you’re lucky enough to snag a residential unit at Marina View and work at Central Boulevard Towers. Imagine the privilege of enjoying a cleaner, greener and smarter office environment right at your doorstep. Link bridges connecting IOI Central Boulevard Towers to One Raffles Quay and Asia Square Towers mean that you can enjoy retail and restaurant therapy after a long day at work!
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