- Marina View Residences Property Fact Sheet
- Why Invest in Marina View Residences?
- Who is the Developer of Marina View Residences?
- What Are the Prices for Marina View Residences?
- Where Is Marina View Residences Located?
- Shopping Centres and Amenities Nearby
- Proximity to Singapore’s Civic, Historic, And Art Districts
- Greater Southern Waterfront – A Short Walk from Marina View Residences
- Sentosa is Three MRT Stations Away
- Schools And Educational Institutions Near Marina View Residences
- URA Master Plan And Vision for Marina South
- Conclusion: Investment Potential & Rental Yields
Marina View Residences is a luxurious mixed-use development within the Central Business District (CBD) in Singapore’s District 1. Located at Marina View just off Shenton Way in the Marina Bay area, the 7,817.6 sq m (84.147.9 sq ft) site is expected to yield about 905 residences, 2,000 sq m (21,528 sq ft) in gross floor area of commercial & retail spaces, and a hotel with approximately 540 rooms.
Marina Bay is home to a number of multinational corporations and is a thriving business district. The development is also close to a number of tourist attractions.
The development of Marina View Residences is part of the Urban Redevelopment Authority’s (URA) plan to transform the CBD into a thriving place to ‘live, work, play’.
The 99-year leasehold land parcel was awarded to Boulevard View, an entity linked to IOI Properties Group, on 21 September 2021 via a government land tender. It submitted a sole bid of $1,508,000,101, which translates to a land rate of 1,379 per sq ft per plot ratio (psf ppr).
This review of Marina View Residences seeks to offer an unbiased evaluation of the following:
Marina View Residences Property Fact Sheet
|Marina View Residences
|Type of Development
|A mixed-use development with residential, hotel, and commercial spaces
|Boulevard View, an entity linked to IOI Properties Group
|7,817.6 sq m (84,147.9 sq ft)
|Gross Floor Area
|101,629 sq m (1,093,923 sq ft)
|Number of Units
|Approximately 905 residential units
Why Invest in Marina View Residences?
Marina View Residences offers a range of unique selling points that make it an attractive option for those looking for a luxurious residential property in Singapore. These include the following:
- Prime location in the heart of Singapore's Central Business District (CBD).
- High rental demand with an existing catchment of ready tenants.
- Stunning views of Marina Bay and the city skyline.
- Excellent transport network – within a 3 to 7 minutes walk to three MRT stations. They are Shenton Way (Thomson-East Coast Line), Tanjong Pagar (East-West Line), and Prince Edwards (Circle Line).
- Seamless connectivity via major expressways such as Marina Coastal Expressway (MCE), Ayer Rajah Expressway (AYE), Central Expressway (CTE), and the East Coast Expressway (ECP).
- Close proximity to shopping centres, restaurants, and entertainment spots.
- A short commute to Singapore’s Historical, Civic, and Art districts.
- A stone’s throw from the Greater Southern Waterfront.
- Convenient access to schools and higher education institutions, as well as international schools.
- Marina South's master plan offers an exciting work, live, and play environment.
Who is the Developer of Marina View Residences?
The developer of Marina View Residences is Boulevard View, an entity linked to IOI Properties Group, which is an award-winning conglomerate in Malaysia founded in 1976. The Group's three core business segments are property development, property investments, and hospitality and leisure.
IOI Properties has a strong track record of delivering high-quality, award-winning projects across Malaysia, Singapore, and China. The Group is committed to sustainability and its investment properties are designed to meet the Green Building Index or are Green Mark-certified.
Some of the residential projects it has developed in Singapore are Cape Royal and Seascape at Sentosa Cove, South Beach, Cityscape, and The Trilinq.
What Are the Prices for Marina View Residences?
The prices for Marina View Residences are not available yet.
Nevertheless, at the government land sale (GLS) on 21 September 2021 for the 7,817.6 sq m (84.147.9 sq ft) site, it was awarded to Boulevard View, an entity linked to IOI Properties Group, which submitted a sole bid of $1,508,000,101.
This translates to a land rate of 1,379 per sq ft per plot ratio (psf ppr) and hence, Marina view Residences is estimated to be launched at an average price of $2,600 psf.
Marina View Residences is located at Marina View and is sandwiched between the Singapore Conference Hall and Asia Square Tower. It overlooks Marina Bay and is a short drive to many popular destinations such as Gardens By The Bay, Sentosa, Chinatown, Boat Quay, and more.
It is well-connected to Singapore's transportation network, with easy access to major roads and public transportation options. The development is located within walking distance (3-7 minutes) of three MRT stations – Shenton Way (Thomson-East Coast Line), Tanjong Pagar (East-West Line), and Prince Edwards (Circle Line).
There are also several bus stops located near it, providing easy access to other parts of the city.
Those who drive will enjoy convenient access to major expressways that include Marina Coastal Expressway (MCE), Ayer Rajah Expressway (AYE), Central Expressway (CTE), and the East Coast Expressway (ECP).
Shopping Centres and Amenities Nearby
Marina View Residences, being a mixed-use development, will enjoy direct access to a wide range of shops, restaurants, and essential amenities, making it an attractive place to work, live, and play.
Surrounding it are several shopping centres that will offer easy access to an array of retail, dining, and entertainment options. These include Marina One, Marina Bay Link Mall, Guoco Tower, Altez, and Icon Village.
Marina View Residences is also located close to popular food centres such as Amoy Street Food Centre and Maxwell Food Centre. Being just an 8-9 minutes walk away, residents will have plenty of food choices available to them.
But for those who prefer home-cooked meals, fret not! Several supermarkets such as Cold Storage, NTUC FairPrice, and Little Farms Market are nearby.
Proximity to Singapore’s Civic, Historic, And Art Districts
Marina View Residences is located near many popular attractions such as the Marina Bay Sands, Merlion Park, Gardens by the Bay, and Singapore Flyer.
It is also near a number of museums and cultural institutions, as well as landmarks. These include the National Gallery Singapore, Asian Civilisations Museum, City Hall, and The Padang, all within Singapore’s Civic and Art Districts.
Moreover, historical districts such as Chinatown and Boat Quay are a stone’s throw away.
Chinatown provides insights into the city-state's cultural heritage, Chinese traditions, vibrant architecture, and bustling streets and markets.
On the other hand, Boat Quay offers a great dining experience beside the picturesque Singapore River. The area is well known for its diverse array of restaurants serving delicious local and international cuisines. It is also a popular place to hang out due to the presence of an assortment of pubs and bars.
Greater Southern Waterfront – A Short Walk from Marina View Residences
The Greater Southern Waterfront area has been earmarked by the government to transform the southern coastline of Singapore into a new place for urban living. It may subsequently become an extension of the current Central Business District (CBD).
This is unsurprising given its proximity to key business districts like Raffles Place and Marina Bay Financial Centre. Hence, Marina View Residences will attract professionals working in these areas, potentially leading to high rental demand.
Sentosa is Three MRT Stations Away
As Sentosa is Singapore’s premier lifestyle and entertainment destination and is home to Universal Studios and other world-class attractions, this can benefit a property like Marina View Residences in several ways.
Sentosa will just be three stops from Marina View Residences once the remaining loop of the Circle Line is completed by 2026, which will consist of the Prince Edward, Cantonment, and Keppel MRT stations.
The proximity to Sentosa will enhance the prestige and desirability of the development. This can potentially attract buyers who desire a luxury lifestyle and are attracted to the exclusivity associated with the area.
With access to a variety of lifestyle and entertainment amenities, including world-class restaurants, golf courses, and theme parks, residents of Marina View Residences can look forward to a more vibrant and dynamic neighbourhood, thereby increasing the development's investment potential.
Schools And Educational Institutions Near Marina View Residences
Marina View Residences is located near several schools and tertiary educational institutions, making it an ideal location for families with children. Some of the primary schools close to it include Cantonment Primary School, Stamford Primary School, and ZhangDe Primary School.
For secondary schools, they include the School of the Arts, Gan Eng Seng Secondary School, and Outram Secondary School.
Meanwhile, the Singapore Management University (SMU) is just three MRT stations from Marina View Residences, while the National University of Singapore is eight stops away.
Marina View Residences has strong investment potential, thanks to its prime location in the heart of Singapore's Central Business District (CBD) where many expatriates work. Hence, there will be no lack of rental demand, especially now that the Singapore government has imposed a hefty additional buyer’s stamp duty on the purchase of properties by foreigners, driving them into the rental market.
Some of the international schools nearby are:
- Shelton College
- Ascensia International School
- ISS International School
- Middleton International School
- Insworld Institute
URA Master Plan And Vision for Marina South
Under the URA master plan and vision for Marina South, the 45-ha district is envisioned to be a mixed-use neighbourhood with residential, retail, office and hotel uses. Upon completion, Marina South is expected to have 10,000 homes. The following are some of the key features of Marina South, making it an ideal place to work, live, and play:
A sustainable 10-minute district: The concept is based on the idea that people should be able to access the essentials of daily life, such as housing, work, education, healthcare, and recreation, within a 10-minute walk or cycle. This will help to reduce car dependency and promote a more sustainable lifestyle.
More green spaces: The district will feature a variety of lush green spaces such as parks, gardens, and waterfront areas. These green spaces will provide residents with a place to relax, exercise, and connect with nature.
Transport connectivity: The district will be well-connected and served by a variety of public transport options, which include the MRT, bus, and ferry. This will make it easy for residents to get around the district and the wider city.
A lively public realm: Create a lively and inclusive public realm where people can gather, interact, and enjoy a variety of activities. This could include events, festivals, markets, and simply people-watching.
Attractions & recreation: Marina South will provide residents and visitors with a variety of things to see and do. Besides Gardens by the Bay and Marina Barrage, the future Marina South Coastal Park will offer visitors the opportunity to immerse in nature, hear, hear birds chirping and enjoy beautiful views of the sea.
Recycling and composting facilities: To help to reduce waste and promote a more sustainable lifestyle, plans are afoot to create a clean and green living environment. This will benefit the environment and the community in the process.
Marina View Residences offers a host of appealing features. Besides being situated in the prime Central Business District (CBD), it also boasts stunning sea views, convenient access to amenities, shopping, and entertainment, as well as a sustainable and eco-friendly living environment.
For those looking for a quality place to live, Marina View Residences ticks many boxes. But in terms of property investment and capital appreciation, what will its prospect be?
To answer this question, let’s examine how two nearby properties have performed – Wallich Residences and Marina One Residences. Both are also mixed-used 99-year leasehold developments and were launched in December 2013 and October 2014 respectively.
As can be seen from the chart above, since their launch, Wallich Residences and Marina One Residences have appreciated by 7.70% and 3.88% respectively. These gains were not particularly impressive when compared to some other properties in prime Districts 9 and 10 such as Martin Modern (+23.13%) and Gramercy Park (+40.45%).
Meanwhile, the rather tepid capital gains by Wallich Residences and Marina One Residences can be attributed to a slew of new property launches in Districts 1 and 2 since early 2000. This can be seen from the list below (Note: this is not an exhaustive list).
|Name of Development
|No. of Units
|Average Rental Yield
|Onze @ Tanjong Pagar
|V On Shenton
|Skysuites @ Anson
|Marina Bay Suites
|The Sail @ Marina Bay
It is important to take note that several new property launches in Districts 1 and 2 are in the works. These include the following:
- Newport Residences (former Fuji Xerox Towers) - 246 units.
- TMW Maxwell (former Maxwell House) ~ 324 units (launching 29 July 2023).
- Skywaters Residences - 215 units
- Former Realty Centre (located at Enggor Street and next to One Bernam) ~ 100 units.
- Marina Gardens Crescent ~ 775 units.
- Marina Gardens Lane ~ 790 units.
The Marina Gardens Lane GLS site was recently clinched by a consortium made up of Kingsford Huray Development (a unit of Chinese developer Kingsford Group), Obsidian Development and Polarix Cultural & Science Park Investment on 27 June 2023.
They submitted a winning bid of $1.034 billion, translating to a land rate of $1,402 psf per plot ratio (psf ppr). Hence, the estimated average launch price is expected to be around $2,650 psf, which will help set the benchmark for the area.
This is slightly higher than the estimated average launch price of $2,600 psf for Marina View Residences, which has a slightly lower land cost of $1,379 psf ppr.
Although the performance of properties in Districts 1 and 2 has been less than stellar, the exciting development of Marina South can offer promising investment potential longer term.
URA Downtown Master Plan
Currently, living in the Central Business District may not be the most appealing as it is very buildup. In fact, it is a concrete jungle where office buildings and skyscrapers dominate the area. But this is set to change after the Singapore government introduced the CBD Incentive Scheme that encourages existing owners of commercial properties to redevelop them into mixed uses.
In addition, under the URA Downtown master plan, it aims to rejuvenate the CBD into a vibrant 24/7 mixed-use district.
Besides encouraging the conversion of older office developments into mixed-use developments, it also seeks to enhance connectivity and create a more people-friendly environment accompanied by lush greenery.
For property investors, this presents exciting opportunities as the plan could potentially increase the value of properties in the area, offer new investment opportunities, and attract a wider range of tenants due to the diversity of uses and improved amenities.
Hence, Marina View Residences is expected to have no issues in terms of rentability. As can be seen from the above table, rental yields in Districts 1 and 2 are quite appealing, primarily ranging from 4.0% to 4.5%.
However, achieving significant capital appreciation may necessitate a longer-term investment approach due to the time required for the URA to fully implement its various master plans.
Meanwhile, below are other reviews of new property launches:
- The Continuum, a freehold condo in District 15.
- Tembusu Grand, a 99-year leasehold condo in District 15 at Jalan Tembusu.
- Grand Dunman, a mega condo development by SingHaiyi Group.
- The Arcady, a freehold condominium in District 12 near Boon Keng MRT station.
- The Hill @ One-North, a mixed-use development by Kingsford Property Development.
- Pinetree Hill, a condominium located off Ulu Pandan in District 21.
- The Reserve Residences, a mixed-use development next to Bukit Timah Reserve.
- Sora, a District 22 condo at Jurong Lake District.
- Lumina Grand, an executive condo at Bukit Batok in Singapore's District 23.
- The Arden, a 105-unit condominium at Bukit Panjang.
- Botany At Dairy Farm, a condo development near Hillview MRT.
- Lentor Hills Residences, a condo development near Lentor MRT.
- J’Den, a mixed-use development by Capitaland at Jurong East.
- Altura EC, an executive condo at Bukit Batok by Qingjian Realty.
- The Myst, a condominium by CDL near Cashew and Bukit Panjang MRT stations.
- Hillock Green, a 99-year condo near Lentor MRT station.
- Hillhaven, a condo development located near Hillview MRT station in District 23.
- Lentoria, a condominium at Lentor Hills Road in District 26.
For more details please refer to our project information.