URA awards Marina Gardens Lane site to EL Development for $450.1m

The site was offered for sale on a 99-year lease term.

The Urban Redevelopment Authority (URA) has awarded the tender for the Marina Gardens Lane site to EL Development Pte Ltd for $450.1m.

The site, which was launched for tender on 13 August and closed on 15 October, was offered for sale on a 99-year lease term, URA said.

The site is designated for residential development with commercial use on the first storey. It has a land area of 6,007.4 square metres (sq m) and a gross floor area of 33,642 sq m.

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Urban Redevelopment Authority

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