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SG Marina Bay to get a lot livelier

Property Here - Friday, May 17, 2013

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By Romesh Navaratnarajah:

Following the grand opening of Marina Bay Financial Centre (MBFC) on Wednesday, the Marina Bay area is set to get more homes, offices and shops in the next few years, noted analysts. Several land parcels in the area have also not been developed yet.

MBFC has also established a new standard for green buildings and boosted the supply of prime office space in the CBD by three million sq ft. With its high-end apartments and restaurants, the integrated development also provides a unique environment for working, living and leisure, said Prime Minister Lee Hsien Loong.

Other upcoming projects include the 221-unit Marina Bay Suites condo (pictured) which is due to be completed this year and Marina One – a mixed development by Temasek Holdings and Khazanah Nasional that is expected to be ready by 2017. 

These and other projects will further liven up Marina Bay, said Moray Armstrong, Executive Director, Office Services at CBRE.  

“The future success of commercial development in Marina Bay looks assured with impressive upcoming developments such as Asia Square's Tower 2, which incorporates the Westin Hotel, V on Shenton scheduled to be completed in mid-2016 and Marina One.”

“At around 1.8 million sq ft, the latter project represents the largest office development currently being undertaken in the city,” he noted, adding that the new offices are not just big, but have also set a new benchmark in the market.  

However, “there is still a white site in the area that is available for development”, said Knight Frank’s Senior Manager, Consultancy and Research, Alice Tan. 

“All these new land plots will slowly morph the area, so that in the long term, the whole Central Business District can be further expanded, complementing the future Tanjong Pagar waterfront city.”  



Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg