URA has awarded the Marina Gardens Lane site to EL Development for S$450.1 million. The 26 October 2026 announcement moves the parcel beyond tender evaluation, giving buyers a confirmed developer to follow. It does not yet give them an apartment to book, a selling price or a move-in date.
For a household considering Marina South, the useful next step is to keep this future development beside actual homes already on the shortlist, with their different payment and occupation dates clearly separated.
What changed on 26 October?
URA’s award announcement names EL Development Pte Ltd as the successful tenderer for a 99-year leasehold site. The parcel permits residential development with commercial use at the first storey. It has a site area of 6,007.4 square metres and maximum permissible gross floor area of 33,642 square metres.
The site entered the tender process on 13 August and the tender closed on 15 October. The earlier tender-closing notice expressly left the award for later evaluation. That earlier stage has now been superseded by the confirmed award; it should no longer be described as still awaiting an award decision.
Why the land figure is not a condo price
Dividing S$450,100,000 by 33,642 gives approximately S$13,379.11 per square metre of permissible GFA, matching URA’s published figure. GFA is the development denominator used here. It is not the area of a particular apartment and the calculation is not a residential price list.
A buyer comparing a future unit will need its total purchase price, saleable area, layout and terms. Construction, financing and other development costs do not disappear, while the eventual product and pricing are commercial decisions. Adding a guessed margin to the land figure would create a forecast, not a quotation.
The same caution applies to rent. A land award provides no signed tenancy or evidence of what an eventual unit will collect. An investor should leave rental income uncommitted in the funding plan until there is relevant evidence for the actual product, rather than use a hoped-for yield to justify a larger purchase budget.
Compare three different stages of choice
A completed resale home allows an inspection of the actual unit and existing surroundings. An already marketed uncompleted project offers sale documents and a specific unit quotation, although occupation is later. The newly awarded parcel adds future choice, with its eventual unit details and sale timetable still to follow.
Our One Marina Gardens review concerns a different development in the wider area. Do not transfer its unit mix, prices or completion expectations to this land parcel because the names share Marina Gardens.
For each option, record the home you would actually buy, the amount payable before occupation, the earliest usable accommodation date supported by the documents and the alternative if that date slips. A station or district name alone does not make two homes substitutes for a household needing particular bedrooms, storage or routes.
What does waiting cost your household?
Hypothetical planning example: a household comparing a purchase now with an additional 18 months in temporary accommodation assumes S$3,500 monthly rent and S$6,000 for additional moving and storage. Those assumptions total S$69,000: S$63,000 rent plus S$6,000. They are neither current rental evidence nor a forecast of this site’s timetable.
Change the example to 24 months at the same assumptions and the total becomes S$90,000. The extra six months adds S$21,000. A household that can remain in its existing home has a different comparison: include its actual ongoing costs rather than insert the same temporary-rent allowance.
Waiting can still be sensible when the current choices do not suit and the existing housing arrangement is sustainable. Buying sooner can be sensible when a suitable alternative meets a firm household deadline. Neither decision needs a prediction that the future launch must be cheaper or more expensive.
Use the new-launch versus resale comparison and the payment calendar to put those choices on the same funding timeline. Ask Lin Xuan or Ade for the actual project documents and unit information when available, while keeping an alternative home within the household’s confirmed budget.
Photograph: Singapore River at Robertson Quay, 14 August 2022, Wzhkevin, CC BY-SA 4.0. Source: commons.wikimedia.org/wiki/File:Singapore_River_at_Robertson_Quay_-_2022-08-14.jpg. Licence: creativecommons.org/licenses/by-sa/4.0/. Resized for web and displayed cropped. Neighbourhood context, not the awarded Marina Gardens Lane site or an assessed home.
Need a brochure, price list or professional introduction?
Contact Lin Xuan at 82222556 or Ade at 81888871 for the full project brochure, latest available price list, a viewing, or introductions to bankers who can help you compare home-loan rates and packages to find the best available option for your needs. If you need legal advice on a property purchase, sale or tenancy, we can also put you in touch with property lawyers.
WhatsApp Lin Xuan | WhatsApp Ade. Let us know the project or property question you would like help with. Prices and availability are subject to developer confirmation, while loan terms and approval are determined by the bank.
Lin Xuan: ONG LIN XUAN, CEA registration R069812H. Ade: CHUA MUAY MUAY (ADE CHUA), CEA registration R014252F. ERA REALTY NETWORK PTE LTD, estate agent licence L3002382K.