One Marina Gardens Draws 5000 Preview Weekend
The opening weekend of the One Marina Gardens sales gallery by Kingsford Group was a resounding success, with a reported 5,000 visitors in attendance from March 29 to 30. The highly anticipated launch of this 937-unit development in Marina Gardens Lane, situated in the Rest of Central Region (RCR) District 1, created a buzz in the market. Sales for the project are set to begin on April 12, two weeks after the gallery opening.
One Marina Gardens is a distinct residential project in the Marina South area, spanning across two towers: a 30-storey block and a 44-storey block. The development also features a commercial podium with two restaurants, two shops, and a childcare centre on its first level. One of the joint marketing agencies for the project, SRI, notes that the units facing the adjacent Gardens by the Bay will offer breathtaking views of the city and Marina Bay.
Interested buyers can find out more about the available units and their prices for One Marina Gardens, and they will not be disappointed. This project is one of the few in Marina South that is situated next to the entrance of the Marina South MRT Station on the Thomson-East Coast Line (TEL), according to Ken Low, the managing partner of SRI.
The upcoming residential neighbourhood, aptly touted as a “10-minute neighbourhood,” will offer a range of amenities, including shops, parks, an MRT Station, a pedestrian mall, and an elevated landscaped bridge linking Gardens by the Bay to the Marina Coastal Park. According to Low, this development will bring a refreshing change to the once “cold and hard downtown area,” making it more livable.
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One Marina Gardens is slated to obtain its Temporary Occupation Permit in the third quarter of 2028, and it will offer a mix of one- to four-bedroom apartments, with the option of dual-key units for three-bedroom apartments. The indicative average unit price is expected to fall between $2,850 psf and $2,900 psf, with absolute prices starting from $1.16 million for a one-bedroom unit, 1.8 million for a two-bedroom unit, 2.45 million for a three-bedroom unit, and $4.45 million for a four-bedroom unit.
According to Low, potential buyers are drawn to One Marina Gardens due to its attractive entry prices, both in terms of psf and quantum, for a prime location in the downtown area. The potential rental yields for investors are also a major pull factor, according to Ismail Gafoor, the CEO of PropNex. Gafoor notes that for similar units of 700 to 800 sq ft at Marina Bay Residences on Marina Boulevard, rentals can range from $5,800 to $6,800 per month for one-bedroom units and $7,500 to $9,000 for two-bedroom units based on caveats lodged with URA Realis from January to February 2021. This proves the strong rental demand in the area.
According to Marcus Chu, the CEO of ERA, One Marina Gardens marks the beginning of the development of the first land parcel in Marina South, which will eventually boast over 10,000 dwelling units. Chu believes that high-net-worth individuals are particularly interested in this project, making it a prime investment opportunity. He adds that the establishment of Single-Family Offices has seen a year-on-year growth of 42.9%, further emphasizing Singapore’s status as an attractive destination for property investment. For those interested in owning a property in One Marina Gardens, visit the project’s page to compare prices and trends and check out the latest listings.