Artist’s impression. Illustrative only, not the development.EL Development stood alone at Marina Gardens Lane, where the residential site drew a single bidder when its tender closed on 15 October 2026, according to EdgeProp. Analysts had expected three to six bids, so the turnout sat well below that range. The dates and counts below place the result on a line that starts in 2021.
2021 to 2023: Bidder Counts on the Timeline Near The Island Residence
In 2021, the Marina View site drew one bidder, IOI Properties Group. In 2023, the adjacent plot on Marina Gardens Lane drew four bidders and went to a consortium led by Kingsford Group. Those two entries show how far participation can differ from one central-area tender to the next, even within the same precinct. Each tender on the line also carried its own site size, home count and conditions, which is why the 2026 specifications are set out further down.
2024 and 2025: Two Turning Points Beside The Island Residence Timeline
The 2024 tender for Marina Gardens Crescent also drew one bidder, a group of GuocoLand, Hong Leong Holdings and TID, and the Urban Redevelopment Authority rejected the offer as too low, so the site was not awarded. That white site could yield about 775 homes. In April 2025, the Kingsford-led consortium launched One Marina Gardens, a 937-unit project on the 2023 plot, and 38.5% of its units were sold over the first weekend. Caveats lodged at the time of the EdgeProp report put the project at about 72% sold.
13 August to 15 October 2026: The Tender Window and The Island Residence Calendar
The 2026 tender was launched on 13 August 2026 as the third site released in the Marina South precinct. It covers 64,659 sq ft on a 99-year lease, with a maximum gross floor area of 362,122 sq ft and about 390 homes plus first-storey commercial space. The tender conditions cap that commercial space at 150 sq m (1,615 sq ft) on the first storey, intended for future residents, and the management corporation takes over once the project is complete. When it closed on 15 October 2026, EL Development's bid was 11.3% lower than the 2023 consortium bid and 26.3% higher than the rejected 2024 offer for Marina Gardens Crescent.
Reasons Given: The Closing Entry for The Island Residence Readers
One analyst described subdued participation as a recurring trend for central-area sites, while another pointed to the larger supply of residential sites, which gives developers a wider range of opportunities. EL Development's managing director named the views, the closeness to Gardens by the Bay and Marina South MRT on the Thomson-East Coast Line, and the developments planned nearby as the area's draws. The tender launched on 13 August 2026 and closed on 15 October 2026, a span of two months and two days, and any award announcement will add the next entry to this timeline. The sole-bid result is the fourth bidder-count entry from 2021 onwards, after counts of one, four and one.
On a different shoreline, The Island Residence is a private residential development planned on Keppel Island, an island of about 5.0 hectares in Keppel Bay that also holds Marina at Keppel Bay. Keppel Bay Bridge, a 245 m cable-stayed bridge, joins the island to the mainland in District 4. HarbourFront MRT (NE1/CC29) is about 1.2 km away in a straight line, Telok Blangah MRT (CC28) about 790 m across the bay, and VivoCity about 1.2 km. Area dates include the opening of Circle Line Stage 6 on 12 July 2026. Project details will be published as the developer releases them, with location notes to start.
The preview list is open, and the Sales Concierge can be reached through the contact page to register.
Source: EdgeProp, 15 October 2026.
General information only, not financial or legal advice.
Source: EdgeProp. This article is independent commentary; The Island Residence is not affiliated with the parties mentioned.
Talk to the Sales Concierge About The Island Residence
The Sales Concierge sends the official name, the e-brochure, the floor plans and the price list for The Island Residence on release, and arranges a private preview appointment.