URA announced on 26 Oct 2026 that the Marina Gardens Lane site was awarded to EL Development Pte Ltd for $450,100,000, or $13,379.11 per square metre of gross floor area. That is about $1,243 per square foot per plot ratio (our conversion). The tender closed on 15 Oct 2026 and the site allows a maximum 33,642 sq m of GFA.
The award
| Item | URA's figure |
|---|---|
| Successful tenderer | EL Development Pte Ltd |
| Tendered price | $450,100,000 |
| Price per sq m of GFA | $13,379.11 |
| Site area | 6,007.4 sq m |
| Maximum permissible GFA | 33,642 sq m |
| Use | Residential with commercial at the 1st storey |
| Lease | 99 years |
| Tender launched / closed | 13 Aug 2026 / 15 Oct 2026 |
- This is the same bid recorded in URA's tender-closing notice of 15 Oct 2026, which listed one bid.
- We convert to psf ppr by dividing the psm figure by 10.764. URA publishes psm only.
- URA estimated about 390 homes when it launched the site. The award notice does not give a unit count.
What it means for buyers
No project name, launch date or selling price has been announced. Our reading: the award sets the developer's land cost, which is not what a buyer pays. See the tender close, the GLS tenders summary and the launch tracker.
Tender award notice: URA
Frequently asked questions
Who won the Marina Gardens Lane site?
EL Development Pte Ltd, at $450,100,000, according to URA's tender award notice of 26 Oct 2026.
What is the price per square foot per plot ratio?
URA gives $13,379.11 per square metre of GFA. Dividing by 10.764 gives about $1,243 psf ppr. That is a land cost, not the price a buyer pays.
When will homes at the site launch, and at what price?
Not announced. No government source has released a launch date or selling price.