EdgeProp reported that the Marina Gardens Lane government land sales tender closed on 15 October 2026 with a single bid, from EL Development. For anyone who owns or lets out a home and watches how new supply is absorbed, a one-bid result is a useful data point, though it describes a tender and says nothing about the value of any existing home.
The result fell well short of the three to six bids that analysts had expected, according to EdgeProp. The site is a 99-year leasehold plot of 64,659 sq ft with a maximum gross floor area of 362,122 sq ft, planned for about 390 homes with commercial space on the first storey.
Tender Terms Owners Can Read Beside The Arcady at Boon Keng
The tender opened on 13 August 2026 and is the third site released in the Marina South precinct. Its conditions limit the first-storey commercial space to 150 sq m (1,615 sq ft) for future residents, and the management corporation takes over running the development once it is complete. EdgeProp reported that the bidder's managing director said government land sales sites released before this tender have fetched very high pricing, and that the company hopes its land price gives buyers a compelling reason to consider the area, pointing to views, proximity to Gardens by the Bay and Marina South MRT on the Thomson-East Coast Line.
Two outside views were carried by EdgeProp. One agency chief executive described the subdued participation as a recurring trend for central-area sites, and a second analyst said the response reflects a larger supply of residential sites that gives developers a wider choice of opportunities.
Place the bid against its neighbours and the picture is one of variation. EdgeProp reported that EL Development's bid is 11.3% lower than the Kingsford-led consortium's bid for the adjacent Marina Gardens Lane plot in 2023, and 26.3% higher than the offer for Marina Gardens Crescent that was rejected in 2024.
Bidder Counts Landlords Can Compare Around The Arcady at Boon Keng
EdgeProp listed the central-area history by number of bidders, and the Kingsford-led consortium launched the 937-unit One Marina Gardens in April 2025, which was 38.5% sold over its first weekend and about 72% sold per caveats lodged at the time of the report. EdgeProp also noted that the Marina Gardens Crescent white site could yield about 775 homes. For owners and landlords, the entries below describe how often a central-area tender draws competition, which is a different matter from how any individual home or rental performs.
2026, Marina Gardens Lane: 1 bidder, EL Development.
2024, Marina Gardens Crescent: 1 bidder, a consortium of three companies; URA rejected the offer as too low and the site was not awarded.
2023, Marina Gardens Lane (adjacent plot): 4 bidders, won by a Kingsford-led consortium.
2021, Marina View: 1 bidder.
The Arcady at Boon Keng is a freehold condominium at 2 Saint Barnabas Lane, off Serangoon Road, in District 12. One 24-storey tower holds 172 homes above four landscaped communal levels with 47 facilities; every home faces north or south, and the lowest homes begin on the third storey. Boon Keng MRT is about six minutes on foot, and Bendemeer Market and Food Centre and Bendemeer Mall are about six minutes' walk. KSH Ultra Unity Pte. Ltd., a joint venture of KSH Holdings, SLB Development and H10 Holdings, is the developer. Expected vacant possession is 31 December 2028. See the location page for the walking routes.
Questions about the balance units chart or the price list can go to the Sales Concierge via the contact page. Showflat viewings are arranged by appointment through the Sales Concierge.
Source: EdgeProp, 15 October 2026.
General information only, not financial or legal advice.
Source: EdgeProp. This article is independent commentary; The Arcady at Boon Keng is not affiliated with the parties mentioned.
The Arcady at Boon Keng follows the normal progressive payment scheme. See each stage, the 5% cash booking fee, LTV tiers and how a loan is drawn down.
The Sales Concierge sends the e-brochure, the full set of floor plans and the current price list to registered parties, and arranges a private viewing by appointment. There is no charge to register and no commitment attached.
