The site, which is currently zoned for hotel use, has been proposed for rezoning to residential use “with commercial at first storey”. The application also asked for the gross plot ratio of two plots occupied by the mixed-use development along Raffles Boulevard to be removed.
The proposed rezoning of Marina Square by Singapore Land Group (SingLand) (SGX:U06
) and UOL Group (SGX:U14) has come as a “positive surprise”, says the team at DBS Group Research.
SingLand, a listed subsidiary of UOL, had submitted an application to the Urban Redevelopment Authority (URA) to rezone its Marina Square site.
