URA releases White site at Marina View / Union Street on the Reserve List

The Urban Redevelopment Authority (URA) has released the detailed sales conditions for a White site at Marina View / Union Street today. The subject land parcel is made available for application under the Reserve List of the second half 2011 Government Land Sales Programme. Developers interested in purchasing the site can now apply to URA for it to be put up for tender.

With direct frontage to the planned Central Linear Park linking Marina Boulevard to Straits Boulevard, the land parcel is the third sale site to be made available for sale at Marina View. The first two White sites at Marina View were sold in 2007. The development on the first sale site (i.e. Asia Square Tower 1) was completed earlier this year. The development on the second sale site (i.e. Asia Square Tower 2) is currently under construction, and is scheduled for completion in 2013.

The development on the White site at Marina View / Union Street will contribute to building up the critical mass of office space in the Marina Bay area and developing the precinct as an international business and financial district.

The land parcel is ideally located within the Marina Bay area, a vibrant and exciting location to work, live and play in, and adjacent to the existing Central Business District (CBD) at Shenton Way.

With a site area of 0.78 ha, the land parcel will have a maximum permissible gross floor area (GFA) of 101,628 m2 and offers a unique opportunity for a distinctive landmark office development in a prime downtown location. A minimum of 71,140 m2 (about 70% of the maximum permissible GFA) will be stipulated for office use to continue with our momentum to grow Marina Bay into an international business and financial hub. The remaining GFA can be developed for additional office use or other complementary uses such as residential and other commercial uses, such as retail, hotel and entertainment uses.

The site also enjoys direct frontage onto the future Central Linear Park linking Marina Boulevard to Straits Boulevard and has panoramic views of the city skyline and Marina Bay. Well served by the Common Services Tunnel – a comprehensive system of underground tunnels which house and distribute utility service lines, the future office tenants will have access to uninterrupted supply of major utilities, emergency back-up services and the capacity for expansion to meet changing utility needs.

The Marina Bay area, Singapore’s downtown district, is located within the heart of the city. It comprises the existing CBD at Raffles Places, Shenton Way and Marina Centre, together with the new development area around the Bay. The district will be an international business and financial hub and is envisaged to be a dynamic, 24/7, Garden City by the Bay.

Marina Bay is shaping up well with a number of key developments that have been completed such as One Raffles Quay, One Marina Boulevard, The Sail @ Marina Bay, Marina Bay Financial Centre, Marina Bay Sands Integrated Resort, Fullerton Heritage and Asia Square Tower 1.

Other exciting attractions that have been added to the loop of existing attractions around the bay, include The Singapore Flyer – one of the tallest observation wheels in the world, a 3.5 km long promenade and a new iconic pedestrian bridge featuring the world’s first double helix design construction. In addition, the Gardens by the Bay (totalling 100 ha) which comprises three unique new waterfront gardens, each with its own distinctive character, will be completed in phases starting from end 2011.

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