Singapore Land Group (SingLand) has entered into four sale and purchase agreements (SPA) to acquire a land parcel at 6 Raffles Boulevard for $99.1 million.
This land parcel is part of the Marina Square complex, which comprises Pan Pacific Singapore, Parkroyal Collection Marina Bay, Mandarin Oriental, and Marina Square Shopping Mall.
The company has entered into the SPAs with Marina Centre Holdings, Hotel Marina City, Aquamarina Hotel and Marina Bay Hotel, through its indirect subsidiary Marina Residential Development.
The acquisition of the land parcel is an internal restructuring to consolidate the holdings into a single wholly-owned subsidiary of Marina Residential Development, which is part of the group’s revised proposal to redevelop Marina Square.
In Sept 2023, SingLand obtained provisional permission from the URA for the partial redevelopment of Marina Square, which includes rezoning a portion of the existing site for residential use.
It received in-principle approval under URA’s Strategic Development Incentive (SDI) scheme which encourages the revitalisation of older buildings located in strategic areas into innovative and sustainable developments that generate positive and transformational, long-term impact for the surroundings.
See also: Tuan Sing Holdings receives approval to redevelop flagship property in City of Melbourne
In 2H2025, SingLand submitted a revised proposal to URA to transform Marina Square complex into Singapore’s first hyper-mixed development, with the addition of three buildings comprising a residential tower, a serviced apartment block and a mixed-use tower with hospitality, office and performing arts spaces.
One key enhancement is the transformation of the existing green area over Stamford Canal along Raffles Avenue into a 6,500 sqm public park with lush greenery, playscapes and event spaces.
SingLand says that the revised proposal is currently under review by the relevant authorities, with the timeline not yet determined. It expects to provide updates on this in the first half of 2026.
See also: Three-storey industrial facility at 5 Tampines Industrial Drive for sale at $13 mil
Upon the completion of the acquistiion, the land parcel will be transferred to Marina Residential Development, a wholly-owned subsidiary of MCHPL which is 77.34% held by the SingLand's subsidiary, Singland Properties Limited, and 22.66% held by UOL Group Limited (UOL).
The acquisition will be financed through internal resources, the group says.
Shares in SingLand closed 2 cents higher or 0.647% up at $3.11 on Dec 3.
