[SINGAPORE] Kingsford Group will start previews for its Marina South mega project One Marina Gardens on Saturday (Mar 29), with prices starting at S$1.16 million for one-bedroom units.

The large development comprises 937 units across two blocks, and a commercial space including two restaurant units, two shop units and a childcare centre on the ground floor. The two residential blocks will have 30 and 44 floors, respectively.

The smallest units, one-bedders at 420 square feet (sq ft), are priced from S$1.16 million or about S$2,761 per square foot (psf).

Two-bedroom apartments of 646 sq ft are priced from S$1.8 million or about S$2,786 psf.

Three-bedders of 904 sq ft start at S$2.45 million or about S$2,710 psf.

Four-bedroom units of 1,647 sq ft are priced from S$4.45 million or S$2,701 psf.

The indicative average price of the units in the development is between S$2,850 and S$2,900 psf.

Kingsford Group, helmed by Cui Zhengfeng, acquired the plot along Marina Gardens Lane for S$1.03 billion in a state tender in June 2023. Its bid, at about S$1,402 per square foot per plot ratio (psf ppr), was some 40 per cent higher than the next-highest offer.

Located in District 1, the 99-year leasehold development is close to the upcoming Marina South MRT station of the Thomson-East Coast Line. It will also have an underground link connecting it to Gardens by the Bay and Marina South MRT stations.

The project, which is expected to obtain temporary occupation permit around the third quarter of 2028, will also be close to a pedestrian mall, and an elevated landscaped bridge that connects Gardens by the Bay and Marina Coastal Park.

Within the vicinity, four projects, with nearly 1,500 homes, are under construction: Skywaters Residences, W Residences Singapore – Marina View, One Bernam and Newport Residences.

Skywaters Residences was launched last May. The 190-unit project in Shenton Way houses large apartments in three-bedroom and four-bedroom layouts, starting from about 2,300 sq ft in size.

Expected to be completed in 2028, the project, on a 118,230 sq ft site, will also house retail space, offices and a hotel.

An apartment spanning 7,761 sq ft on the 57th floor of Skywaters Residences sold for S$47.34 million or S$6,100 psf – marking a record price for a 99-year leasehold property in psf terms.

W Residences Singapore – Marina View by IOI Properties Group comprises 683 units, and Newport Residences by City Developments houses 246 units. Both projects have not been launched.

Sales booking for One Marina Gardens is expected to start on Apr 12.

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Credit: The Business Times