Binhai Plaza transforms into a super-large mixed-use development project Analysis: Helps to unleash regional development potential | Lianhe Zaobao

Marina Square will be transformed into Singapore's first ultra-large mixed-use development project, encompassing housing, hotels, retail, office, and cultural spaces. Interviewed analysts expect this will inject vibrant energy into the Marina Square area, thereby unlocking the development potential of the region. They also believe that the high-end private residential project at Marina Square, with its proximity to the subway station and shopping mall amenities, is expected to attract buyers and become another best-selling high-end private residential project. Singapore Land Group announced on Wednesday (December 3) that Marina Square will be transformed into Singapore's first ultra-large mixed-use development (hyper-mixed development), with the addition of three buildings: residential, serviced apartments, and a mixed-use building. The mixed-use building will include a hotel, office space, and arts performance space. In addition, the company will transform the existing green space along Raffles Avenue on Stamford Canal into a public park covering 6,500 square meters, featuring a playground and activity space. Besides the shopping mall, Marina Square also includes the Pan Pacific Singapore, Parkroyal Collection Marina Bay, and Mandarin Oriental, Singapore. Singapore Land stated that the transformation plan for Marina Square will help turn the Marina Centre into a vibrant waterfront lifestyle hub. This large-scale project will also enhance the appeal of the Marina Square area in conjunction with the upcoming NS Square. The company pointed out that the relevant authorities are currently reviewing the plan, while the company and its professional advisory team are developing more detailed proposals. Although the specific timeline for the project has not been finalized, the company expects to announce the latest developments in the first half of 2026. The increase in residential population can unlock the development potential of the region Professor Cheng Tianfu, Dean of the Real Estate Department at the National University of Singapore Business School, said in an interview with Lianhe Zaobao that Marina Square is adjacent to the Central Business District and close to the subway station, making it a prime location. "Moreover, Marina Square will connect to NS Square, and it may even link to the Singapore Flyer, Marina Bay Sands area, and the future southern waterfront area, giving the entire region significant development potential." Further Reading Marina Square to add three buildings and transform into an ultra-large mixed-use development project He believes that the development of private residences and serviced apartments at Marina Square could increase the residential population and vibrancy of the area, helping to unlock its development potential. However, he pointed out that the current connection between Marina Square and the subway station needs improvement. Additionally, it is located next to the Formula 1 Singapore Grand Prix circuit, and if private residential projects are built, the relevant authorities need to improve the road planning in the area. Li Sid, Senior Director of Data Analytics at Huttons, stated that the addition of high-end private residential projects at Marina Square is likely to be favored by many buyers, especially office workers in the central business district. He said, "Several private residential projects in this area, such as South Beach Residences, Midtown Bay, and Midtown Modern, have performed quite well in sales. Therefore, if Marina Square launches a private residential project, it should be very popular." MOGUL.sg Chief Research Officer Mai Junrong believes that an increase in the residential population in the Marina Square area could stimulate consumer demand for nearby retail, services, and dining facilities. This is good news for retailers at Marina Square. He also said, "As a shopping center built nearly 40 years ago, Marina Square is indeed due for a major renovation and reconstruction; otherwise, it risks being eliminated in the fierce competition with Suntec City and Marina Bay Sands shopping mall." Marina Square was completed and opened in 1986 and was once one of the largest shopping malls in the area, being the most popular mall in the 1980s and 1990s. However, with the opening of Suntec City and Millenia Walk in the late 1990s, foot traffic at Marina Square has gradually decreased in recent years