390 Units at Marina Bay + 110 Units at Orchard: Which Will Be the Next "Land King"?

Two Prime GLS Sites Launched in Marina Bay and Orchard Road, Adding Around 500 New Homes

Two prime residential sites in Singapore's core central areas have officially been placed on the market.

On 13 August, the Urban Redevelopment Authority (URA) released two residential government land sales (GLS) parcels for tender under the **2H2026 GLS Programme**.

One site is situated along Marina Gardens Lane, estimated to yield around 390 homes, while the other is located along Orchard Boulevard, expected to provide roughly 110 residential units.

The two sites sit in Marina South and the prestigious District 10 respectively. Although differing in scale and product positioning, both are prime core-region sites drawing intense market interest.

Following strong sales momentum at One Marina Gardens and UpperHouse at Orchard Boulevard, market watchers are keenly observing developer turnout and the resulting land bid prices for these two plots.

Marina Gardens Lane: The Third Residential Plot in Marina South

First, let us examine the Marina Gardens Lane site.

Zoned for residential with commercial on the first storey, the site covers an area of approximately 6,007 sq m (64,659 sq ft), with a maximum gross floor area (GFA) of 33,642 sq m, expected to generate around 390 units.

This represents the third residential parcel launched within the emerging Marina South precinct.

Marina South is master-planned as a vibrant, sustainable mixed-use urban precinct integrating residential living, commerce, and community spaces.

In terms of location, the development is located right next to Gardens by the Bay and close to the upcoming wellness attraction Therme Singapore.

As the precinct progressively takes shape, Marina South is fast emerging as one of Singapore's most anticipated downtown waterfront residential addresses.

One Marina Gardens Sales Bolster Developer Confidence

Mark Yip, Chief Executive Officer of Huttons Asia, pointed out that homebuyer demand for this brand-new residential enclave has already been validated.

As the pioneer private residential launch in the precinct, One Marina Gardens has moved over 70% of its units since its launch in April 2025.

The sales performance of One Marina Gardens provides a critical bellwether, as early buyers in a virgin estate typically take on the uncertainty of amenities still being built out.

With the pioneer development logging robust take-up, the market now has clearer visibility into genuine buyer appetite for Marina South, which should boost developers' bidding appetite for the new parcel.

Direct MRT Link and Ground-Floor Retail Bridge the Amenities Gap

The newly launched Marina Gardens Lane plot will feature ground-floor retail space along with a direct underground link to Marina South MRT station.

Residents will enjoy seamless connectivity along the Thomson-East Coast Line into the CBD and across Singapore. The development is also expected to offer around 150 sq m of commercial space, catering to convenience retail and daily services.

This convenience is especially critical for Marina South. As the precinct remains in its initial phases of development with limited mature neighbourhood amenities nearby, on-site commercial facilities will enhance day-to-day livability and significantly elevate buyer appeal.

Unblocked Views of Gardens by the Bay for Select Units

One of the site's standout selling points is its enviable location, with select future units poised to capture unblocked vistas across Gardens by the Bay.

At the same time, the plot enjoys close proximity to the Marina Bay Financial Centre, the CBD, and Marina Bay Sands—placing residents right next to Singapore’s prime commercial core as well as top-tier tourism, entertainment, and lifestyle destinations.

For PMEBs working in the CBD and Marina Bay, the commute advantage is second to none.

A potential drawback, however, is the dearth of primary schools in the immediate vicinity, which could temper interest among families prioritising proximity to established schools.

Previous Plot Transacted at $1,402 psf ppr: Where Will Bids Land This Time?

The market is naturally eager to see where bidding prices for this latest site will settle.

The adjacent pioneer plot along Marina Gardens Lane was awarded in July 2023 for S$1.034 billion, translating to: S$1,402 psf ppr.

That site was subsequently developed into the 937-unit One Marina Gardens.

With One Marina Gardens achieving a 70.5% take-up rate, developers now have a far more grounded read on actual demand, which could support confident bidding for this new plot.

Under the planning parameters, the development can be configured either as a single high-rise tower or as a taller residential tower paired with a lower block.

Under the latter configuration, units within the taller block—boasting prime waterfront frontage and superior view corridors—are expected to capture robust premium demand.

Market Estimates on Marina South Land Rates Vary Broadly

Property agencies hold varying forecasts regarding the eventual land rate. Market expectations generally range between S$1,350 and S$1,450 psf ppr, with top bids potentially reaching between S$1,550 and S$1,650 psf ppr.

Notably, tender documents stipulate that the successful bidder must also pay S$403,704 (subject to prevailing GST) as a capital contribution towards the construction of the Marina Bay electrical substation.

Will Developers Turn More Cautious?

Another variable worth watching is the widening array of future land replenishment avenues.

Previously, the nearby Marina Gardens Crescent site received only a solitary bid, which was rejected by URA for falling short of its assessed market value.

That plot was subsequently placed on the Reserve List, where it remains available for application by developers.

At the same time, following the recent extension of the Additional Buyer's Stamp Duty (ABSD) remission timeline for large en bloc sites, more collective sale projects may enter the market.

This suggests developers may have viable alternatives to the GLS programme to replenish their landbanks. With expanded options, developers could become more selective when bidding for land.

The tender for the Marina Gardens Lane site closes at 12 noon on 15 October 2026.

Orchard Boulevard: A Boutique Prime Parcel Yielding Just 110 Homes

The second parcel is located on Orchard Boulevard. Compared to the Marina South site, this plot is considerably more boutique in scale.

Situated in prestigious District 10 and zoned for pure residential use, the site spans roughly 3,438 sq m, with a maximum GFA of around 9,627 sq m, estimated to yield merely: 110 residential units.

Precisely due to its manageable scale, this site could prove to be one of the most keenly contested core-region plots in the current GLS exercise.

UpperHouse Achieves 82.1% Sales, Underlining Orchard Boulevard Demand

A key catalyst driving developer interest in this plot is the solid demand track record established by neighbouring new launches.

Just down the road, UpperHouse at Orchard Boulevard has moved over 80% of its units within roughly a year of launch.

For Core Central Region (CCR) developments, which typically face longer absorption periods, such a sales pace is particularly impressive. It underscores resilient, deep-pocketed appetite for prime Orchard Boulevard addresses.

The healthy sales momentum logged across several recent CCR launches similarly reaffirms persistent underlying demand for prime core homes.

CCR Unsold Inventory Hits Multi-Year Lows

Another noteworthy metric is the steady drawdown of unsold private housing inventory in the CCR.

URA data shows that unsold CCR units stood at 8,419 in 1Q 2025.

By 2Q 2026, this figure had dropped to 5,504 units—marking the lowest inventory level since peaking in 1Q 2025.

As existing stock is steadily absorbed, developers face growing urgency to replenish prime luxury landbanks.

Likely One of the Final Residential Plots on Orchard Boulevard

This plot represents one of the few remaining residential GLS sites along Orchard Boulevard. Nestled within the prestigious Cuscaden luxury enclave, it is surrounded by ultra-luxury private residences.

Consequently, it offers two standout attributes: prime district scarcity and a boutique, manageable development quantum.

A smaller site quantum limits overall land capital outlay, opening the doors for mid-sized or boutique developers looking to secure a foothold in the CCR luxury segment.

Previous Orchard Boulevard Plot Awarded at $1,617 psf ppr

When the previous Orchard Boulevard GLS tender closed in February 2024, it drew 4 bids and was awarded for S$428.3 million, or S$1,617 psf ppr.

Beyond its proximity to the Orchard Road shopping belt, the latest plot is surrounded by flagship international luxury labels, premier dining, and Grade A commercial offices.

For affluent buyers seeking high-convenience cosmopolitan living, the appeal is unmistakable.

The concentration of multinational corporations and Grade A office developments nearby will also drive healthy expatriate tenant demand, adding clear investment merit.

Could the Land Rate Cross $2,000 psf ppr?

Given the acute scarcity of government residential land within the Orchard Planning Area, market analysts broadly anticipate robust developer interest.

Consensus land rate projections fall between S$1,650 and S$1,700 psf ppr, with top bids potentially testing S$1,950 to S$2,050 psf ppr. This translates to an overall land quantum of approximately S$202.1 million to S$212.4 million.

Should the price fall within this range, the overall land quantum would remain among the lowest for prime CCR GLS sites awarded in recent years.

By way of comparison, the Handy Road site—now Haus on Handy—was awarded in 2018 for around S$212.2 million.

Manageable Quantum May Spark Competitive Bidding

While Orchard Boulevard represents an ultra-prime enclave, its compact yield of around 110 units keeps total development capital manageable.

This bite-sized quantum makes it exceptionally attractive to mid-tier and boutique developers looking to anchor a marquee CCR luxury project in their portfolio without taking on excessive balance-sheet exposure.

Nonetheless, developers face additional construction overheads. Under the tender stipulations, all vehicular parking spaces must be located underground. Basement carparks entail higher civil construction costs than surface or podium parking, a factor developers will carefully factor into their bidding spreadsheets.

The tender for the Orchard Boulevard site closes at 12 noon on 29 October 2026.

Conclusion: Two Sites, Two Distinct Prime District Opportunities

URA's dual launch of Marina Gardens Lane and Orchard Boulevard presents two markedly distinct development propositions.

Marina Gardens Lane will deliver approximately 390 homes within a master-planned, brand-new waterfront enclave. Its investment thesis rests on the long-term growth of Marina South, direct MRT connectivity, unblocked waterfront views, and access to CBD employment hubs.

Orchard Boulevard, offering roughly 110 units, draws its appeal from prestigious District 10 heritage, the exclusive Cuscaden address, extreme land scarcity, and the mature luxury ecosystem of Orchard Road.

One represents the upside potential of a transformative new downtown waterfront district, while the other embodies timeless, blue-chip prime scarcity.

With One Marina Gardens surpassing 70% sales and UpperHouse at Orchard Boulevard clearing 82.1% within a year, both micro-markets have demonstrated solid homebuyer appetite.

The true focal point now lies in the prices developers are willing to table.

In particular, will the top bid for Orchard Boulevard hold near S$1,700 psf ppr, or breach the S$2,000 psf ppr threshold?

The outcome will not only set the cost basis for these future launches, but also establish critical pricing benchmarks for upcoming new launches across Marina South and Orchard.