My review of One Marina Gardens by the Kingsford Group

My review of One Marina Gardens by the Kingsford Group

[This article was first posted on daryllum.com on 26 Mar 2025]

 

You know what I find perplexing? If location is key when it comes to property investment, then why are properties in the core central region getting so little interest from developers and buyers alike? Little when comparing the interest in places like Tampines. Buyers do realise that projects like Parktown Residences are located in Tampines and Tampines is located at the east end of Singapore yup? Was the pricing so impressively attractive that buyers needed to flood the showrooms? Yes it is an integrated development but why do buyers not consider something in the core central region as well?

The highly restrictive Additional Buyers’ Stamp Duties (ABSD) levied on foreign buyers has put the brakes on almost all foreign purchases. I have always maintained that if a foreigner chooses to pay the 60% ABSD, there is something that should be scrutinised. Imagine this, a foreigner purchases an SGD$5 million property. He pays SGD$3 million as ABSD. His total acquisition cost, including the usual Buyers’ Stamp Duty and other fees amount more than SGD$8 million. As a foreigner with more than SGD$8 million, he would have choices galore. He has access to properties all around the globe. If that individual can purchase properties from all over the world, what is his motivation to pay more than SGD$8 million for something that is perhaps valued at around SGD$5 million? This means that the moment he purchases the property, the asset that he is holding is worth much less than what he paid for. This, in investing sense, is purely illogical. However, if that individual acquired his monies relatively easily, then he would not mind losing that value. Foreign buyers are almost non-existent. In fact, if I were the authorities, I would question and scrutinise the very few purchases by foreigners. I would want to understand the motivation and purpose for such a purchase. Well, if there were no clear motivation for the buyer to purchase Singapore properties then it would be prudent to scrutinise his source of funds for the property purchase.

So then, foreign property purchases have slowed to a trickle. This perverts the normal demand for Singapore properties. Foreigners would be less motivated by things like familiarity and proximity to other family members. For example, if my family members and I have been living in a certain part of Singapore, say Toa Payoh, then if there is a new property launch in Toa Payoh, I would be more likely to be enticed to make a purchase because I want to live near my family members and also to live in a part of Singapore that I am familiar with. This is why, to me, properties like Chuan Park are selling well as compared to a property like Aurea. There are fewer existing families living around Aurea as compared to Chuan Park. Hence there will be less “familiar” buyers for Aurea. Go to Chuan Park and the typical buyer will be someone who lives or lived around the area. Or has family members living in the area.

Location, despite what we have always focused on, may not weigh as much on current buyers’ consideration in today’s market. Familiarity with a particular location is high on buyers’ consideration. This is why many developers look at marketing their projects to HDB upgraders. This can be seen in the weak bids for land in areas with less HDB upgraders. Let me turn you back to end 2024 where the Marina Gardens Crescent site drew just one bid of SGD$770.5 million, or SGD$984 per square foot per plot ratio (psf per) This bid was too low and URA did not award this site to the bidder. This bid is nearly 30% lower than the neighbouring Marina Gardens Lane site. This is the site on which One Marina Gardens is located on. This one Marina Gardens Lane site was awarded to the Kingsford Group in July 2023 for SGD$1.03 billion or SGD$1,402 psf ppr. Look around this area. There are no residential properties around the area. It is inconceivable that someone will walk into the One Marina Gardens sales gallery and say, “I lived in this area for the past few decades and would like to purchase a unit in this development due to my familiarity with the location”.

 

Details about the development

One Marina Gardens is a 99-year leasehold development. The total site area is 12,245.10 square meters. The development consists of 937 units spread across two blocks. The two blocks are 30 and 44 storeys. It will also have commercial units like 2 restaurants, 2 shop units and a childcare centre. There will be 445 carpark lots. The expected completion is in 2029.

 

Where is the development located?

One Marina Gardens is located along Marina Boulevard.

One Marina Gardens Location Map

 

It is located right next to exit 4 of Marina South MRT Station. Marina South MRT Station is one of the stations on the Thomson East Coast Line. Marina South MRT Station is not yet opened. It is scheduled to open in tandem with developments in this area. I believe that this means that when One Marina Gardens is completed, Marina South MRT Station will be operational. For the purposes of this review, we will refer to TE22 Gardens by the Bay MRT Station rather than TE21 Marina South MRT Station.

Travelling from Gardens by the Bay MRT station to Orchard MRT station would take a total of 13 minutes over 6 stations. The cost is $1.59.

Gardens by the Bay MRT to Orchard MRT

 

Travelling from Gardens by the Bay MRT station to Raffles Place MRT station would take a total of 5 minutes over 2 stations. The cost is $1.19.

Gardens by the Bay MRT to Raffles Place MRT

 

The drive from One Marina Gardens to Raffles Place would take approximately 7 minutes and the distance travelled is about 2.7 kilometres.

The drive from One Marina Gardens to Raffles Place

 

The drive from One Marina Gardens to Orchard Road would take approximately 18 minutes and the distance travelled is about 6.5 kilometres.

The drive from One Marina Gardens to Orchard Road

 

One Marina Gardens is located at the fringe of the Marina Bay Financial District. I do not think that residents would drive to Raffles Place. I believe the short train ride would be the most ideal option. As a point of reference, the Google Map query was done in the afternoon at about 4pm. Hence traffic is light. If you are driving during peak hours, do factor in additional travelling time.

 

Who is this development for?

I genuinely think that if you believe in the concept of catchment areas, then why are you not considering properties in and around the Marina Bay Financial District? Are your tenants not coming from people who work in offices in the area? If so, I do think that if you are looking to purchase for rent, then this is the ideal property for you. I am a person who always focuses on what is around the area. If the area is littered with offices with highly paid employees, then this is a huge plus.

One of the reasons I can offer as to why many Singaporeans do not think this way is because of the ABSD. On multiple properties, ABSD applies. Hence Singaporeans only have one property purchase which is not subject to ABSD. If so, that first property is likely to be a property in a location which they are familiar with. In certain cases where a married couple plans to have two private properties, one under the husband’s name and another one under the wife’s name, then this is an ideal second property.

Marina One Residences One Bedroom for rent

 

A simple search on PropertyGuru would show that a 1 bedroom condominium at Marina One Residences is going for about $4,800 a month.

According to a recent Business Times article, the 1 bedroom units at One Marina Gardens starts at SGD$1.16 million.

Working out the yield based on an assumed rent of $4,800 a month or $57,600 per annum,

$57,600 / $1,160,000 = 4.97% per annum

Of course there are a few assumptions when it comes to my calculation. I am making the assumption that the 1 bedroom unit at One Marina Gardens can be rented out for $4,800 in about four years time. I believe my assumption is reasonable because it is likely that rents are likely to increase in the next four years, albeit at a much slower pace. The $4,800 is based off the current rent in an older development. Secondly, the purchase price is based on the lowest priced unit. However, if you factor in a higher purchase price, you would still receive a yield of more than 4%.

Ever heard the notion that yields tend to be lower in the city centre? Well not necessarily so. Especially when current property prices in the Outside Central Region (OCR) are so close to the prices in the Core Central Region (CCR) and Rest of Central Region (RCR). Try going to Chuan Park and getting a 1 bedder for less than SGD$1 million. I do not think it is possible. Then look at the prices at developments in areas that are so much closer to Singapore’s Central Business District (CBD).

Hence I firmly believe that if I were looking for a property with good rentability, One Marina Gardens is something I would look at.

 

The selling points of the development

Rentability and closeness to the MRT station and Singapore’s CBD. If location is the prime determinant of how much one should pay for a certain property, is the market making a mistake in looking away from developments in the Marina Bay Area?

Oh yes, heard of the Marina Bay Development Plan? The Greater Southern Waterfront?

If you require more information about developments in this area, you can refer to the URA website on The Marina Bay Story.

If you need more confirmation that there will be developments in the area, this is the URA Master Plan. The reddish pink areas where One Marina Gardens sits on are zoned Residential with Commercial at 1st storey. Those in white are White sites. It is clear that this is an area slated for future development. There will be HDB flats built in this area as well. It was announced in 2023 that more homes are planned in central locations to let more people enjoy city living. Marina South is one of those areas stated. With HDB flats in the vicinity, the usual amenities that are associated with HDB neighbourhoods are likely to also follow suit. Hence, if you do not have a food centre or supermarkets in the vicinity currently, if HDB flats are built here, then all these conveniences should make their way to this neighbourhood.

URA Master Plan

 

Possible bad points of the development

There is another plot of land slated for development right next to One Marina Gardens. This would block, perhaps partially, the sea view of units facing the sea. However, it is likely that there will be many new developments in the area so having an unblocked view would not be a permanent thing.

 

One Marina Gardens

 

Pricing 4/5

Prices start from $1.15 million or about SGD$2,762 psf. Yes you can get a Marina One Residences unit for $1,993 psf but then for some reason there is also an outlier that transacted at $2,522 psf. The average psf for transactions within the last 1 year is $2,112. Assuming an average price of about $2,900 psf, One Marina Gardens is going for a 37% premium over Marina One Residences. Of course you are getting a new lease and this is in an area with a lot of new developments. Hence you will need to factor this into the premium that you are paying.

Marina One Residences Past Transactions

 

Location 4.5/5

I believe this area is going to be filled with amenities as private developments as well as HDB developments start to fill the area. One Marina Gardens is the closest you can get to the Marina South MRT Station. The thing about the URA is that once it has announced developments in the area, it is most certainly going to happen. I believe in time to come this area is going to develop into an extremely desirable area.

 

If there were no ABSD on purchases beyond a Singaporean’s first property, I would seriously consider a property like One Marina Gardens.

 

Yours sincerely,

Daryl Lum

 

My other recent Singapore property reviews:

My review of Aurea by Far East Organization and Perennial Holdings

My review of Parktown Residence by CapitaLand, UOL and Singapore Land

Is Arina East Residences worth buying?

Is Arina East Residences worth buying?

[This article was first posted on littlebigreddot.com on 14 May 2025]

Former La Ville Condominium was sold to Developer ZACD Group Limited through a collective sale on 1 December 2021.

Developed by ZACD Group Limited, a Singapore-based Developer – Arina East Residences will be having its public preview soon. A development located in the highly sought after District 15 of Singapore. Is this development worth buying? Let’s analyze and review this together!

To start off, Arina East Residences is a Freehold Development, so there is no lease start date. In the long run, as other big boys like Grand Dunman, Tembusu Grand go through their lease decay, Arina East Residences will stand tall as something that is timeless. Yes, that’s a plus point, but what’s its Price Point?

Be it for Home-stay or what most Singaporeans like to call, “investment”, the entry point to a project is extremely important. You would want to make sure that you are not purchasing the biggest asset in your life at a ridiculous price compared to your surrounding neighbors in the area. That being said, Freehold usually has a 10-20% premium as compared to its leasehold counterparts.

 

For this post, I will be splitting this analysis into a few categories and review it after each round using:

  1. Size and Facilities
  2. Distance to nearest MRT, is it within 15 minutes?
  3. Distance to nearest Hawker Center, is it within 15 minutes?
  4. Distance to nearest Shopping Centre, is it within 15 minutes?
  5. Any Primary/ Secondary schools within 1KM of development?
  6. Price Per Squarefoot – Premium over its Freehold Neighbors 

 

Category 1 – Size and Facilities of Arina East Residences

To begin, Arina East Residences will consist of 107 residential units, offering unit mix of 1 to 4 Bedroom types. It will be a fully facilitated development which ladies and gentlemen, includes a Tennis Court! As well as the other typical Condominium Facilities such as luxury pools, pavilions, gym etc. to suit your leisure and fitness needs.

Honestly, I was surprise to learn that Arina East Residences, a well located Freehold Development has full facilities. Normally, Freehold Developments are either not situated in a very convenient spot that’s further from the MRT, or a smaller development with lack of facilities, let alone having a Tennis Court in it. It’s a win win for me this round!

Verdict for Category 1: Pass.

 

Category 2 – Distance to the nearest MRT

The nearest MRT to Arina East Residences is Katong Park MRT Station. According to Google Maps, its a 500m distance which is about 7 minutes walk from the development to Katong Park MRT Station. Personally for Private Properties, the walk to nearest MRT Station should always be below 15 minutes for me to consider it as being decently located.

Arina East Residences to Katong Park MRT Station by foot

Verdict for Category 2: Pass.

 

Category 3 – Distance to the nearest Hawker Center

Location of Arina East Residences

The nearest Hawker centre from Arina East Residences will be Jalan Batu Market & Food Centre. It’s a good 1KM away from the development and is estimated to be a 14 minutes walk according to Google Maps.

Arina East Residences to Jalan Batu Market & Food Centre by foot

Verdict for Category 3: This was a close one, but within 15 minutes it is. Pass!

 

Category 4 – Distance to the nearest Shopping Centre

I’ve seen several sites stating that the nearest Shopping Centre – Leisure Park Kallang is 0.93KM, approximately a 12 minutes walk from Arina East Residences. However (and this is always the case), Google Maps stated that the walking distance is in fact 1.8KM, approximately a 24 minutes walk.

Arina East Residences to Leisure Park Kallang by foot.

This could often be the case because Google Maps may recommend a longer route that avoids certain roads or areas, possibly due to pedestrian access restrictions or safety concerns, therefore the suggested routes might incorporate pedestrian paths that are not the most direct but are considered safer or more accessible. Google Maps may also adjust routes based on real-time data, such as traffic conditions or construction, leading to longer suggested paths.

I will take Google Map’s distance to generate the result for this category.

Verdict for Category 4: Fail.

 

Category 5 – Schools within 1KM of Development

For this category, I will be using Elite.com.sg as always.

Schools within 1KM from Arina East Residences via Elite.com.sg

According to Elite.com.sg, it seems there’s no schools within 1KM of Arina East Residences. However upon further research and confirmation using Google Maps, Dunman High School is a mere 400m, just 6 minutes walk from the development.

Arina East Residences to Dunman High School by foot.

For additional information, here are some other schools that are located within 2KM of Arina East Residences:

Chung Cheng High School – 1.6KM, approximately 22 minutes walk

Broadrick Secondary School – 1.7KM. approximately 23 minutes walk

which would bring about more convenience if you are travelling by car, unless you enjoy some morning exercises.

Verdict for Category 5: Pass!

 

Category 6 – Price per Squarefoot

For this category, we will be looking at Arina East Residence’s PSF in comparison to the recent New Launches, as well as its Freehold Resale neighbors in the area.

According to EdgeProp, ZACD Group is set to preview Arina East Residences at prices starting from 3,000 PSF (Source: https://www.edgeprop.sg/property-news/zacd-group-preview-freehold-arina-east-residences-prices-3000-psf) That will amount to around $1.485 mil starting from a 1 Bedroom – 495 Sqft. A similar price range to Meyer Blue when it previewed last year.

As all may know, the starting from prices are usually for units with lower floors or facings that are not the best. To be safe in selecting a better unit, let’s take $3,250 PSF for this comparison!

I will take Meyer Blue for the recent New Launch comparison. Meyer Blue is a fully facilitated, freehold Development housing 226 units. This development was launched last year October and is similarly located in District 15.

 

Prices of Meyer Blue from Dec’24 to May’25

The average PSF taken from Meyer Blue’s transactions over the last 6 months is $3,162. If we take Arina East Residence’s estimated PSF of $3,250, that will amount to a 2.78% premium over Meyer Blue.

What are your thoughts on these? Taking into account both developments are Freehold luxury properties, we definitely have to look into more details of these projects for a better comparison! Let’s leave this to next week’s episode: “Property Showdown on Little Big Red Dot: Meyer Blue Vs. Arina East Residences“. Stay tuned! (:

Next, let’s have a look at Arina East Residence’s Resale comparison.

Arina East Residences and its comparing property

Let’s use The Line @ Tanjong Rhu for this comparison. The Line @ Tanjong Rhu is a freehold, fully facilitated development housing 130 residential units. It was   completed in 2016 and just a 300m away from Arina East Residences. However, despite being fully facilitated with similar amount of units as Arina East Residences, this development does not have a Tennis Court.

Prices of The Line @ Tanjung Rhu from Dec’24 to May’25

There wasn’t much transactions at The Line @ Tanjong Rhu over the past year. Based on most recent past 6 months, these was only one transaction during December 2024 with the PSF of $2,295. This would calculate to Arina East Residences having a premium of 41.61% over The Line @ Tanjung Rhu.

 

Instead of a verdict for this category. Maybe we can have a thought on this to end today’s topic – Arina East Residences will be entering the market with a modern offering and full suite of condo facilities, but its estimated 41% price premium over The Line @ Tanjong Rhu – a relatively new freehold development just 300 metres away raises valid questions.

While Arina East appeals with brand-new fittings, potential for better common facilities, and proximity to the upcoming Katong Park MRT, buyers must also weigh the smaller unit sizes and whether the premium reflects real long-term value or simply developer pricing strategies in today’s market.

Ultimately, it’s not just about what you’re paying—but what you’re getting in return. For some of you, the freshness and launch momentum may be worth it. While for others, resale options like The Line @ Tanjong Rhu could represent better value without sacrificing location or tenure.

So in conclusion, what matters more to you? – Newness and perceived potential, or space and value in a still-modern development? (:

 

Love,

Lin Xuan

Disclaimer: I am in the Real Estate Field under the company ERA. The above are my sincere and friendly analysis. If you are looking to move into the next phase of life and is looking to upgrade or downsize your home to cash out – but is in a dilemma on what is the best option, I’m always available on WhatsApp at +65 8222 2556 to have a good chat! You may reach out to me for all Official Project Details such as Floor Plans, e-Brochures & Factsheets as well.

Wishing you a great week!

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