Marina Square is a mixed-use development that has three hotels, a shopping mall and an office. The development sits on 99-year leasehold land that started from Sept 9, 1980. The site area measures 92,197 sqm with a total gross floor area of 315,046 sqm.

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The application, which was seen in a proposed amendment to URA’s masterplan that was published on Aug 1, involved rezoning a portion of the site from “hotel” to “residential with commercial at first storey”. The application also stated the removal of the gross plot ratio of two plots occupied by the mixed-use development along Raffles Boulevard. Marina Square is currently zoned for hotel use with a plot ratio of 3.4. The plots may also be used for commercial or residential use as long as they don’t go over 40% of the total floor area.

See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='/news/property/yanlords-total-contracted-pre-sales-down-715-y-o-y-rmb11-bil-nov?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Yanlord's total contracted pre-sales down 71.5% y-o-y to RMB1.1 bil in Nov</a>

The proposed rezoning means that SingLand has already received in-principle approval from the authorities to build residential units on its property, says The Straits Times.

According to the paper, the proposed rezoning for residential use spans some 3,700 sqm and will include a part of the swimming pool at Parkroyal Collection Marina Bay and a part of the shopping mall.

Based on SingLand’s annual report for the FY2022 ended Dec 31, 2022, the mall has a committed occupancy of 98%.

See also: <a class='gtm_see_also_2_inread' style='text-decoration: underline;' href='/news/property/mapletree-gets-approval-build-interim-ferry-and-cruise-terminal-harbourfront-st?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Mapletree gets approval to build interim ferry and cruise terminal at Harbourfront: ST</a>

A spokesperson for SingLand said that it would reveal details upon any “material developments”.

As at 9.28am, shares in SingLand are trading flat at $2.01.

SingLand applies for Marina Square site to be rezoned: ST

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