An indirect wholly-owned subsidiary of Genting Singapore has been granted provisional approval by the Urban Redevelopment Authority (URA) to develop 21,243 square meters of gross floor area (GFA) for retail space and 700 hotel rooms at Resorts World Sentosa (RWS). The retail space equates to 228,658 square feet.
This development is part of Genting Singapore’s commitment, made in 2019, to invest $4.5 billion in expanding its RWS integrated resort with new non-gaming attractions. Currently, RWS features five hotels, offering a total of approximately 1,600 rooms.
In the third quarter of this year, several property development proposals were granted provisional approval (PP) by URA, including a landed housing development by Bukit Sembawang Estates’ subsidiary, Singapore United Estates, in the Luxus Hill Heights-Seletar Green Walk area, comprising two bungalows, 18 semi-detached homes, and 136 terraced houses.
Another subsidiary of Bukit Sembawang obtained URA’s provisional approval for a 155-unit condominium project on a 99-year leasehold plot in Bukit Timah Link, acquired through a state tender in 2022.
A joint venture involving Perennial Holdings, Sino Land, and Far East Organization, which acquired the Golden Mile Complex in Beach Road through a collective sale in 2022, received PP for its plans to develop 37,600 square meters of offices, 14,163 square meters of retail space, and 186 apartments, incorporating both conserved and new-build elements.
In the third quarter, a Singtel unit was granted PP for 101,707 square meters of office space and 3,860 square meters of retail space for the redevelopment of its Comcentre headquarters in Exeter Road, near Somerset MRT station, where it partnered with Lendlease for the project.
Additional details have emerged regarding the PP granted to Hotel Properties (HPL) in August for the comprehensive redevelopment of the Voco Orchard Singapore hotel, Forum, and HPL House in the Orchard-Cuscaden area. This development includes 26,810 square meters of retail space, 14,153 square meters of offices, 360 hotel rooms, and 304 apartments. The project consists of two tower buildings, one with 64 storeys and the other with 43 storeys, atop a six-storey podium featuring a rooftop garden, a performance theatre, and a basement car park. Another 29-storey tower will be constructed over the contiguous basement car park, and the total approved GFA for the mixed development is nearly 8.14 times the total land area of 14,027 square meters.
Redevelopment Plans for Marina Square
Further insights into the preliminary plans of UOL Group and its listed subsidiary Singapore Land Group (SingLand) have been provided in URA’s data. They plan to undertake a partial redevelopment of Marina Square in Raffles Boulevard. The proposed development includes 702 residential apartments and serviced apartments, 87,529 square meters of retail space, and 18,891 square meters of office space, based on the PP granted in August to Marina Centre Holdings (MCH) and SingLand. MCH is jointly owned by UOL Group and SingLand.
Marina Square encompasses a mall, Pan Pacific Singapore, Parkroyal Collection Marina Bay, and Mandarin Oriental Singapore. The site spans a total area of 92,197 square meters across two land parcels with a 99-year leasehold tenure that began in 1980. Market observers anticipate the site will be redeveloped in phases over eight to ten years.
A spokesperson for SingLand stated, “The proposed partial redevelopment of Marina Square is in its preliminary stages, and the endeavor aims to diversify the use-mix within the site and capitalize on surrounding new developments.” This redevelopment will not affect the operations of the mall and the three hotels, and it will continue business as usual.
MCH fully owns Marina Square mall and the Pan Pacific Singapore, while the Parkroyal Collection Marina Bay is jointly owned by MCH and UOL Group. Mandarin Oriental Singapore is equally owned by MCH and the Jardine Matheson Group’s Mandarin Oriental International. The hotel recently underwent a $135 million renovation and reopened at the end of September.
SingLand previously announced its proposal for the partial redevelopment of Marina Square in a filing with the Singapore Exchange (SGX) on September 29, and it was already known that this would include a residential component. This followed a proposed amendment to URA’s Master Plan on August 1, which rezoned a relatively small part of the site from “hotel” use to “residential with commercial at the first storey.”