Venture Linked to Mah Bow Tan and Allen Law Entity Competes for Marina South Wellness Project
A venture linked to former Singapore Land Authority chairman Mah Bow Tan and an entity owned by Allen Law’s Allen & Gledhill are reportedly vying for a prime wellness project site in Marina South. The tender for the 4.7-hectare site, located at Marina South Parcel 1, is set to close on June 25.
The consortium comprises Perennial (Singapore) Investments, a company previously associated with Mah Bow Tan, and Marina Bay Sands’ (MBS) parent company, Las Vegas Sands. Another contender is Sunway International Holdings, which is reportedly controlled by Allen Law’s Allen & Gledhill, a prominent law firm in Singapore.
The Marina South site has garnered significant interest due to its strategic location and potential for development as a prominent wellness hub. The Urban Redevelopment Authority (URA) has stipulated that the project must focus on wellness, with a minimum of 60 per cent of the gross floor area dedicated to wellness-related uses. This includes spaces for health and medical services, fitness and sports facilities, and complementary amenities such as retail, F&B, and other supporting services.
The developer is also required to integrate the project with the surrounding environment, featuring extensive green spaces and public access. The goal is to create a vibrant, mixed-use development that contributes to Singapore’s urban landscape and enhances the well-being of its residents and visitors.
The outcome of the tender, which is expected to be announced after the closing date, will determine the successful developer for this significant project in Marina South. The competitive interest highlights the attractiveness of the site and the potential for a large-scale wellness development in a prime urban location.
The government has been actively promoting Singapore as a hub for wellness tourism and services, and this project is seen as a key component in achieving that objective. The successful bidder will have the opportunity to shape a substantial area in Marina South into a leading destination for health and well-being.
Key Points
- Tender closing date for Marina South Parcel 1: June 25
- Minimum 60% of gross floor area dedicated to wellness-related uses
- Site area: 4.7 hectares
Read the Complete Article.
