URA closed the Marina Gardens Lane tender on 15 Oct 2026 with one bid, from EL Development Pte Ltd at $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). URA says the notice is not an announcement of tender award and will publicise the award later.
What happened
| Tenderer (as named by URA) | Bid | $ per sq m of GFA | psf ppr (our conversion) |
|---|---|---|---|
| EL Development Pte Ltd | $450,100,000 | $13,379.11 | About $1,243 |
- URA launched the site for public tender on 13 Aug 2026 and the tender closed at 12 noon on 15 Oct 2026.
- The site allows residential use with commercial at the 1st storey. It covers 6,007.4 sq m, with a maximum permissible gross floor area of 33,642 sq m, on a 99-year lease.
- URA estimated about 390 homes when it launched the site.
- URA's notice says it is not an announcement of tender award. The award decision will be publicised later, so the site has not been awarded yet.
- URA publishes bids in dollars per square metre of floor area. We converted to psf ppr by dividing by 10.764.
"Psf ppr" is the land price divided by the floor area the site is allowed to build. It is a land cost, not what a buyer pays.
What it means for buyers
No project name, launch date or selling price has been announced. Our reading: one bid means there is no second price on the table to compare it with, and the award is URA's decision, not made yet. For earlier results, see the Lorong Puntong and New Upper Changi Road awards, the other tenders still open in our GLS tenders summary, and the launch tracker.
Tender closing notice: URA
Frequently asked questions
How many bids did the Marina Gardens Lane site get?
One. URA's tender-closing notice of 15 Oct 2026 lists EL Development Pte Ltd at $450,100,000 in its Annex A.
Has the Marina Gardens Lane site been awarded?
Not as at 15 Oct 2026. URA's notice says it is not an announcement of tender award, and the award decision will be publicised later.
What is the bid per square foot per plot ratio?
URA gives $13,379.11 per square metre of gross floor area. Dividing by 10.764, we get about $1,243 psf ppr. That is a land cost, not the price a buyer pays.
When could homes at Marina Gardens Lane launch, and at what price?
Not announced. No government source has released a launch date or selling price for the site.