Marina Square mall to close after March 2027 for major revamp

[SINGAPORE] Marina Square shopping mall will close on Mar 31, 2027, as property developer Singapore Land (SingLand) embarks on a large-scale overhaul to transform the 9.2-hectare downtown complex into a multi-use development by 2031.

The timeline for the project comes after SingLand announced on Tuesday (Sep 1) that it had received written permission from the Urban Redevelopment Authority under the Strategic Development Incentive scheme for the partial redevelopment of the complex.

The complex currently comprises Marina Square shopping mall, as well as three hotels – Pan Pacific Singapore, Parkroyal Collection Marina Bay and Mandarin Oriental. Taken together, the complex occupies a site area of 92,197 square metres (sq m).

With the redevelopment, the site will expand its overall gross floor area to about 362,493 sq m, said SingLand.

The developer will integrate three new towers onto the footprint, adding a 49-storey luxury residential skyscraper, a 24-storey serviced apartment block and a 19-storey mixed-use tower containing premium Grade A office space and a new hotel.

The existing four-storey retail mall will be transformed into a central platform connecting the broader precinct with an emphasis on lifestyle, dining, sports and wellness offerings, said the property group.

The site’s three established hotels will remain fully operational throughout the construction period.

Public infrastructure upgrades will accompany the build, including a 6,500 sq m public park built above the Stamford Canal, an elevated botanical loop and continuous sheltered walkways connecting the complex to Suntec City, Millenia Walk and the upcoming NS Square waterfront area.

Construction will be funded through a mix of internal cash, credit facilities and shareholder funding alongside financing from parent company UOL, which holds an effective stake in the project entity.

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SingLand noted that while its net gearing is expected to rise as capital expenditure picks up, the redevelopment project will have no material impact on its operating results for the 2026 financial year.

Updates to the changes were slated to arrive in the first half of 2026, according to an initial announcement in December last year.

Shares of SingLand rose 0.3 per cent to close S$0.01 higher at S$3.28 on Monday.