Image source: https://brandinsider.businesstimes.com.sg/marinaone/marina-bay-worth-investing-now/

Case Study: Marina One Residences (Future Demand Assessment in Practice)

Here we look at how the URA Master Plan (Our Downtown & Greater Southern Waterfront) works with other buying factors to project the future demand of Marina One Residences.

Indefinite Prime Location

https://www.marinabaysands.com/expo-events-and-convention-centre/game-changer/mbs-expansion.html

With Marina Bay Sands (MBS) and the Financial Hub just a stroll away, Marina One Residences is indefinitely situated in a prime location. There has already been public plans to further develop a 4th MBS Tower, which is just one of the many developments which will shape the Greater Southern Waterfront.

*MBS 4th Tower, sourced from: https://www.marinabaysands.com/expo-events-and-convention-centre/game-changer/mbs-expansion.html

Future Transformation of Our Downtown

https://www.ura.gov.sg/Corporate/Planning/Master-Plan/Regional-Highlights/Central-Area/Downtown

“Large tracts of available land in Marina Bay provide ample opportunity to test-bed innovative ideas on shorter leases. These can offer unique lifestyle concepts and generous public spaces, while providing for flexibility and responsiveness to evolving needs.”

Quote from: https://www.ura.gov.sg/Corporate/Planning/Master-Plan/Regional-Highlights/Central-Area/Downtown

It is clear that the overarching plan for the Marina Bay area is set to be a prime lifestyle and public space right next to the financial district. But what exactly is the plan? For that, we will have to look at Business Improvement Districts (BIDs). BIDs are a way to focus and allows stakeholders to take responsibility for the developments of each district. A clearly defined vision attached to each BID allows us to predict the quality of the developments in the area. This is what the area around Marina One Residences will look like:

Vision of the Precinct
Best integrated business, employment, lifestyle and recreational destination of choice.

Key Initiatives
• Design a unique Marina Bay experience for community and visitors through heritage trails, arts, and fitness activities.
• Organise regular pop-up stalls and activities to enhance the vibrancy and attract evening crowds to the precinct.
• Curate different events at public spaces around the precinct such as The Promontory, and The Lawn, to showcase the rich heritage, bay and architecture of the precinct.
• Improve and enhance connectivity among the developments, such as wayfinding.
• Implement joint marketing platforms among stakeholders.

*Read more from source link: https://www.ura.gov.sg/Corporate/Get-Involved/Enliven-Public-Spaces/Business-Improvement-District

Future Transformation of Greater Southern Waterfront (GSW)

Spanning from Pasir Panjang to Marina East, the GSW developments will take place in the next 5 to 10 years. GSW will not directly affect the Marina One Residences plot of land. But the GSW future transformation may have a greater impact on the property value than the plans for ‘Our Downtown’ itself.

As land is developed in the surrounding area, Marina One Residences—which now sits on the southern tip of the financial district and of the main island—will be ‘displaced’ toward a more central setting. And as the Marina One Residences property ‘shifts’ into the centre of the island, it naturally becomes a central work and living district as well; just like Orchard Road today. This is a prime example of how future demand metrics work when applied onto land development.

Read more from source link: https://www.ura.gov.sg/Corporate/Planning/Master-Plan/Urban-Transformations/Greater-Southern-Waterfront

Well-connected & Developing Transport Network

https://www.ura.gov.sg/Corporate/Planning/Master-Plan/Regional-Highlights/Central-Area/Downtown

With 3 MRT lines adjacent* and one more on the way*, Marina One Residences is extremely connected to city centres, outskirts and practically anywhere you wish to go. If you choose to drive, the residences is also linked to the MCE and to the CTE via one road junction.

Good PSF Entry Price

This is just the icing on the cake. It’s not like Marina One Residences needs this, but the PSF entry price is extremely low when compared to its surrounding neighbours.

Wallich Residence average PSF of ~S$3,300
Marina One Residences average PSF of ~S$2,500
South Beach Residences average PSF of ~S$3,300

Developers understand land planning deeply and are not afraid to price low today; in 2020. They also know that, once the surrounding amenities are opened up, the mainstream wave of demand will follow suit—and that is when prices will go up swiftly.

Future Demand Summary: Marina One Residences

‍Marina One Residences will remain in a prime location in any foreseeable future, with its property PSF-value further positively insured by adjacent residences. Multiple public transport access routes make it suitable for residents of all lifestyles. And as the GSW is developed, the entire Marina Bay land will be appreciated.

Written in December 2020

“The Downtown area will be even more connected than ever with upcoming Maxwell and Shenton Way stations on the Thomson-East Coast Line, and Prince Edward and Cantonment stations on Circle Line 6. With these additions, all developments in Downtown will be within a 10-minute walk of an MRT station.”

Quote from: https://www.ura.gov.sg/Corporate/Planning/Master-Plan/Regional-Highlights/Central-Area/Downtown

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