Introduction
In-market, looking to invest in a new launch development and wonder if One Marina Garden is a worthy investment option ?
I will save you some research mileage, by giving you a helicopter view of what’s the general review narratives out there.
There exist two camps of content creators creating reviews for One Marina Gardens also known as OMG.
One camp swore against investing anything located within the CCR region, rightfully citing the sub-optimal performance of CCR properties that lagged behind that of OCR and RCR new launches.
The other camp points towards a pivotal change in tide for CCR new launches and urges you to take a leap into investing in One Marina Gardens.
Our stance
We fall into the first camp, we advocate that you tread with caution when reviewing CCR new launches like Aurea.
But, we also believe that you should not easily disregard One Marina Gardens. There could be lessons to be learnt and One Marina Gardens could really mark a change in tide for CCR new launches with specific attributes.
We are Decoupling Expertise
Before committing the next 5 mins reading this article, it helps to know who is behind the pen.
We are a team of specialist realtors that specialises in helping our readers research, shortlist and purchase investment properties.
We believe in delivering informational value upfront without obligations through practical, detailed and data backed long form articles.
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Quick Background on One Marina Gardens
Over at the Marina South area, there are currently 5 plots of undeveloped residential land and another 10 plots of vacant mixed used land awaiting development. Based on the latest URA media release, the government plans to transform Marina South into a new township within the city center.
One Marina Gardens will be the first development to break ground in Marina South.
| Address | Marina Garden Lane |
| Nearest MRT | Marina South MRT – 3 mins walk |
| Site Area | 131,805 sqft |
| No of Units | 937 Residential |
| Commercial | 3 Shops, 1 Restaurant, 1 Childcare |
| Completion Date | 30 April 2029 |
The tricky part about reviewing One Marina Gardens as an investment property
Unlike the typical analytical flow that you would apply on reviewing RCR and OCR new launch investment, where you would immediately dive into looking at the development’s pricing, layout and site plan.
Reviewing One Marina Gardens (OMG) requires us to take a step back and carefully examine whether a CCR property is even investable.
It is akin to investing in a China tech stock like Alibaba, after it has fallen 50% from its peak and betting on a change in trajectory moving into the future.
In our view the following pointers need to be accessed before we are confident in putting our own money on One Marina Gardens.
- What attributes cause CCR properties to be unprofitable ? – Is OMG any better ?
- What are the real tangible benefits of the Marina South masterplan on OMG property price ?
- Is it really true that One Marina Gardens is priced very close to RCR new launch ?
- What are the exit buyers for One Marina Gardens and is this a growing segment ?
- The key risk / blindspots that come with investing in One Marina Gardens and can it be addressed ?
- Alternative investment options – could there be a better risk reward option compared to OMG ?
No use talking about floor plans till we are addressed the 6 points above. Let’s go !
What attributes cause CCR properties to be unprofitable ? – Is OMG any better ?
There is no alpha / gain in dispelling all CCR properties as unprofitable. Instead, it would be more rewarding for us to examine the root attribute that resulted in the suboptimal demand for CCR properties, and mapping it back on One Marina Gardens to see if these root issues are being addressed.
Here’s a list of CCR properties located in the central business district that is often cited for being unprofitable.
| Project Name | Completion | No. of Units | Annualised Capital Gain (%) |
| MARINA ONE RESIDENCES | 2017 | 1,042 | -0.49 |
| MARINA BAY RESIDENCES | 2010 | 428 | 0.39 |
| MARINA BAY SUITES | 2013 | 221 | -0.79 |
| ONE SHENTON | 2011 | 341 | -0.07 |
| EON SHENTON | 2017 | 132 | 0.62 |
| ALTEZ | 2014 | 280 | 1 |
To give you a benchmark for reference, the average inflation in Singapore is 1.5%, the average annualised capital gain for residential property is around 3%.
So yes, these CCR properties are real laggards and they all share some common attributes. We will touch on them later.
Now here’s another list of “CCR” developments that performed very differently. Note both these developments are located in the harbourfront MRT area and strictly speaking they could be termed as RCR properties instead of CCR properties.
But I intentionally highlighted them because the attributes they possess greatly resemble the future state of the Marina South precinct and One Marina Gardens.
Common attributes include, located next to the sea, a new township undergoing major URA transformation.
| Project Name | Completion | No. of Units | Annualised Capital Gain (%) |
| THE REEF AT KING’S DOCK | 2024 | 429 | 3.69 |
| CARIBBEAN AT KEPPEL BAY | 2004 | 969 | 3.13 |
Notice the difference in annualised capital gains ? These CCR developments performed way better than those listed above.
Unravelling this in the course of our research points us to two factors.
- Not all CCR properties perform poorly, there are common attributes that resulted in the poor performance of CCR properties.
- If One Marina Gardens possess attributes similar to The Reef at King’s Dock there could be a chance that it may perform equally well.
CCR Properties – Problematic Attribute #1 – Oversized units with inflated purchase quantum
For every unit type, be it 1 bedroom or 2 bedroom, buyers will always have a budget in mind when purchasing this unit. The budget range becomes even more sensitive if you are looking to resell the unit to single buyers, investors or couples without children. These buyers have no obligation to buy a unit within a specific location, they are free to explore alternatives that fits into their budget.
Have a look at the size and resultant purchase quantum for these underperforming CCR properties and compare it to the performing CCR developer listed in the second table.
From a resale buyer perspective, you can purchase a 2 bedroom unit in The Reef at King’s Dock which is significantly younger at a lower price than any of these developments in the first table. Putting yourself in the shoe of a resale buyer, which will you purchase ?
Underperforming CCR properties have oversized units with inflated purchase quantum
| Project Name | Average Size of 2 Bedroom Unit (sqft) | Avg PSF ($) | Average Quantum of 2 Bedroom Unit |
| MARINA ONE RESIDENCES | 1033 – 1119 | 2055 – 2226 | 2,300,000 |
| MARINA BAY RESIDENCES | 1055 – 1130 | 2000 – 2057 | 2,260,000 – 2,325,000 |
| ONE SHENTON | 1098 – 1141 | 1774 – 1823 | 1,948,000 – 2,080,000 |
| ALTEZ | 990 – 1184 | 1900 – 2224 | 2,050,000 – 2,250,000 |
Performing CCR developments have got smaller sized units with lower purchase quantum
| Project Name | Average Size of 2 Bedroom Unit (sqft) | Avg PSF ($) | Average Quantum of 2 Bedroom Unit |
| THE REEF AT KING’S DOCK | 689 – 743 | 2446 – 2834 | 1,685,000 – 2,074,000 |
| CARIBBEAN AT KEPPEL BAY | 840 – 1270 | 1935 – 2168 | 1,728,880 – 2,000,000 |
Did One Marina Gardens address this size to quantum problem ?
Reframing this back to One Marina Garden, let’s examine if it has addressed this issue. Referring to the table below, it is validated that One Marina Garden’s developer has effectively sized its unit down to achieve a palatable purchase quantum.
| Project Name | Average Size of Unit (sqft) | Avg PSF ($) | Average Quantum of 1 Bedroom Unit |
| 1 Bedroom | 419 – 452 | 2768 – 2900 | 1,160,000 – 1,265,000 |
| 2 Bedroom | 657 – 710 | 2739 – 2900 | 1,800,000 – 2,000,000 |
CCR Properties – Problematic Attribute #2 – The lack of residential vibe
Imagine getting ticked off by an oppressive boss at work and returning home to a building that greatly resembles your office, that is two streets away. Not exactly what we envision as a peaceful reprieve.
One key issue with the existing CCR developments in Raffles Place, Shenton Way area is that it lacks the residential vibe.
To further tangibilize this, we seek to reverse engineer what constitutes a residential vibe by looking at developments in the harbourfront area.
- Plot density – development provides sufficient open and green space within the compound
- Coastal development – Ideal if it is next to the sea
- Neighbourhood – surrounding build up provides some semblance to a residential neighbourhood as compared to a concrete jungle
Plot Density Comparison
First off here’s a table comparing the plot density of different CCR developments.
Point noted that OMG may not have the most favorable plot density.
| Project Name | Land Size (sqft) | No of Units | Land Size per Unit (sqft / unit) |
| MARINA ONE RESIDENCES | 494,074 | 1,042 | 474 |
| MARINA BAY RESIDENCES | 56,554 | 428 | 132 |
| ONE SHENTON | 41,710 | 341 | 122 |
| ALTEZ | 32,679 | 280 | 117 |
| Project Name | Land Size (sqft) | No of Units | Land Size per Unit (sqft / unit) |
| THE REEF AT KING’S DOCK | 290,120 | 429 | 676 |
| CARIBBEAN AT KEPPEL BAY | 1,049,449 | 969 | 1083 |
| Project Name | Land Size (sqft) | No of Units | Land Size per Unit (sqft / unit) |
| ONE MARINA GARDEN | 131,805 | 937 | 141 |
Residential neighbourhood vibe
Addressing the other 2 points on Coastal development and neighbourhood vibe.
One Marina Gardens, being located next to Gardens by the bay and proximate to the Marina South coastline, provides some compelling foundational attributes for OMG to differentiate itself from its CBD counterparts.
To truly dive into the certainty of OMG achieving this we must look deeper into the URA transformation plan in the section that follows.
What are the real tangible benefits of the Marina South masterplan on OMG property price ?
Riding on the narrative of a URA transformation plan is a common affair for new launch marketing nowadays.
The key to understanding if the transformation is accretive to the property price, is to understand if the transformation has any real tangible impact on building up amenities, infrastructure for the existing condo development.
To summarize there are 2 factors to examine
- Tangible infrastructure, amenities upside
- Time to realisation, soon better
Based on the Marina South transformation plan, here’s a summary of the tangible outcomes.
| Tangible Infrastructural Transformation | Potential Outcome | Time to realization |
| Vision – 10mins Neighbourhood | Mixed residential neigbourhood, amenities, public transport, office all within 10mins walk | Progressive development from 2028 |
| Pedestrian Mall running underground between Marina South MRT and Gardens By The Bay MRT | Direct linkage to Gardens by The Bay and Marina South TEL MRT station | Progressive development from 2028 |
| Neighbourhood street – all daily necessities, childcare, cafe | Supermarket, Cafe, Childcare at the doorstep of residential development | Progressive development from 2028 |
| Plaza and Courtyard | Playgrounds, Communal Space, Dog Walking | Progressive development from 2028 |
| Elevated landscape bridge connecting gardens by the bay to Marina south coastal park | Direct linkage with Gardnes by the Bay and Marina South Coastal Park | Progressive development from 2028 |
Looking at the list of developments above assuming all these developments were to be realised, coupled with the presence of Gardens By The Bay and Marina South coastline. There is a chance that Marina South can transform itself into a decent residential enclave.
The key challenges lies in the certainty of this developments being realised and the time frame in which it will be realised.
For investors looking for a quick 4 year flip, you won’t be able to capitalise on these URA developments till 2030 onwards.
Is it really true that One Marina Gardens is priced very close to RCR’s new launch ?
Moving on to pricing advantage. A major proposition on the ground is that OMG as a CCR development is priced very close to the recent RCR new launch.
Let’s dive deeper to see if this is valid, using a 2 bedroom unit as a benchmark to review..
Referencing the comparison table below, It is valid that from both a psf and purchase quantum perspective. OMG, located in a much more centralised location, is priced very close to a RCR new launch like Orie and Elta, located in Toa Payoh and Clementi.
This may have less impact on swaying the purchase decision of buyers that are families with children, as they are obligated to purchase property close to their child’s school located in the heartland.
But for affluent singles, couples without children, retirees and 2nd property investors. It makes a lot of sense for them to start taking CCR properties like One Marina Gardens seriously.
Price Gap – 2 Bedroom – One Marina Garden vs RCR New Launches
| Project Name | Location | Size | PSF ($) | Quantum ($) |
| ONE MARINA GARDEN | CCR | 657 – 710 | 2739 – 2900 | 1,800,000 – 2,000,000 |
| THE ORIE | RCR | 659 | 2815 – 2900 | 1,853,391 – 2,013,000 |
| ELTA | RCR | 677 | 2583 – 2,810 | 1,747,754 – 1,916,000 |
This brings us to the next question, how sizable is this exit audience and will this segment of exit audience be growing in size in the future ?
We will be addressing this in the section that follows.
Who are the exit buyers for One Marina Gardens and is this a growing segment ?
From an exit buyer standpoint, we must acknowledge that the exit buyers for a CCR development like One Marina Gardens will differ greatly from that of a RCR or OCR development in the heartland.
For CCR developments we are looking at affluent singles, couples without child and retirees with an empty nest.
The first port of call is to make sure you get the right product type. Do the opposite from what you would prioritise for a RCR and OCR property. Avoid the larger sized 3 and 4 bedroom units and go for the 1 and 2 bedroom units.
The next thing to consider is if this segment of exit buyers is a sizable and growing segment.
To do that we look into the demographic trend for Singapore and this is what we got.
| Demographic Group | 2015 | 2024 | Trend (2015→2024) |
| Singles (Never-married) – % of residents (15+ yrs) | 31.00% | 29.10% | Slight Decrease |
| Married Couples without Children – % of resident households | 15.30% | 17.90% | Increase |
| Married Couples with Children – % of resident households | 54.30% | 46.50% | Decrease |
Source
Singstats 2015
Singstats 2024
From the stats above it seems that Married couples without children is a growing segment, which is a positive sign for OMG in terms of exit strategy.
But do note that these exit buyers tend to be a lot more flexible in terms of location, unlike families with kids that are entrenched into buying within a particular location.
To truly attract these buyers your unit must possess both compelling location, aesthetics and price point.
The key risk / blindspots that come with investing in One Marina Gardens and can it be addressed ?
- From a risk management perspective, these are the risk that you must be aware of before buying into One Marina Gardens.
Risk #1 – Developer pricing risk, dropping price if demand is lacklustre
The risk of a developer dropping its selling price after launch day when demand is suboptimal, is a risk that is applicable for all new launches.
But the risk of a price drop for CCR new launch is heightened as the demand is less predictable as compared to its RCR and OCR new launch counterparts.
Here’s a summarised view of Kingsford Group’s pricing strategy based on its launches overtime.
| Projects by Kingsford | Launch Day Demand | Price Increase / Price Decrease |
| Chuan Park | 76% | Increase |
| The Hill @ One North | 31% | Decrease |
| Normanton Park | 33% | Increase |
| Kingsford Waterbay | 44% | Increase |
| Kingsford Hillview Peak | 9% | Decrease |
Referencing the table above, there are indeed cases whereby Kingsford drops its price when demand is lacklustre.
But the key factor to note for One Marina Gardens is to assess its initial launch prices and check if its developer is pricing in a premium or are they adopting a more value based pricing strategy.
Based on the table below, Kingsford group seems to be adopting a more prudent pricing strategy, pricing it close to RCR launches.
One Marina Gardens Estimated Launch Price
| Unit Type | Area (sqft) | Indicative Price |
| 1 Bedroom | 420 | from $1.16x,xxx |
| 2 Bedroom | 646 | from $1,80x,xxx |
| 3 Bedroom | 904 | from $2,45x,xxx |
| 4 Bedroom | 1,647 | from $4,45x,xxx |
Catalyst / Risk #2 – Risk of neighbouring plots being secured at a lower land cost and launching at a lower price or Launching at a higher price and serving as a price catalyst.
As mentioned earlier, aside from OMG, there are another 4 more plots of residential land beside OMG awaiting tender.
We remain divided on this point. As the launch of future developments on these 4 other plots can serve as both a price catalyst or a risk to One Marina Gardens.
From a risk perspective, if the other plots could be acquired at a lower land cost and potentially allowing developers to launch at a lower price than One Marina Gardens. Then this becomes a potential threat to OMG’s resale price in the future.
But to be fair, amongst the residential sides in Marina South, OMG is situated the closest to Marina Bay MRT station.
URA has also proven that it will defend the land price for the area by rejecting a low ball bid by Gucco Land in 2024.
On the flipside, if the upcoming residential developments are launched at a higher price, then OMG will enjoy its first mover advantage, allowing these new developments to prop its price up.
Alternative investment options – could there be a better risk reward option compared to OMG ?
When investing in a new launch, it’s always wise to develop contingent options and be ready to walk away when the risk reward ratio is not optimal, the price is not right or simply because you got a lousy ballot number.
We will use this section to provide you with a quick round down on the upcoming new launches in 2025.
If you need further consideration on how these other launches are matched against OMG in terms of risk reward, feel free to drop us a text.
OCR New Launch
| Development / GLS Parcel | Location | No of Units | Estimated Launch Date |
| Upper Thomson Road | Springleaf MRT | 940 | Q2 2025 |
| Tampines West, mixed development | Tampines West MRT | 585 | Q4 2025 |
| Canberra Crescent | Sembawang Canberra | 412 | Q3 2025 |
RCR New Launch
| Development / GLS Parcel | Location | No of Units | Estimated Launch Date |
| Margaret Drive | Queenstown MRT | 505 | Q3 2025 |
| Bloomsbury Residences | One North MRT | 358 | May 2025 |
CCR New Launch
| Development / GLS Parcel | Location | No of Units | Estimated Launch Date |
| Upper House, Very Plum site | Orchard Boulevard MRT | 270 | Q2 2025 |
| Zion Road Parcel A | Havelock MRT | 1170 | Q2 2025 |
| Holland Drive, beside one holland village | Holland Village MRT | 680 | Q3 2025 |
| Rivergreen | Great World MRT | 410 | Q2 2025 |
| Zion Road Parcel B | Great World MRT | 610 | Q3 2025 |
Will I place my own money on One Marina Gardens ?
I would say yes based on the following factors
- If I am bent on getting a new launch over a resale property
- And I am restricted to a budget between 1.2 mil to 1.9 mil
This put me out of the market for most 3 bedroom units for RCR and OCR new launches. With that in mind, I believe a well priced 2 bedroom unit in a strategic CCR location with the right size, layout, location and neighbourhood could put me in a better position than getting a 1 or 2 bedroom unit in the heartland.
Essentially better product market fit.
Looking to invest in a new launch ?
Deploying your capital into an optimal new launch project is crucial at this point.
It helps to have a detailed comparison of all the pros and cons across all new launch opportunities available.
Drop as a whatsapp text and we will revert with a 5 factor comparison table of the best new launch opportunities available at the moment.
More relevant reads regarding new launch investment
- New Launch Purchase Process
- How to own 2 properties in Singapore ? – Practical Methods
- Springleaf Residence New Launch Review – Is this “ulu” condo worth buying ?
- River Green New Launch Condo Review – Is This CCR Project Worth Buying ?
- LyndenWoods New Launch Condo Review: 2 Bedder Sweet Spot
- Canberra Crescent Residences New Launch Condo Review
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