19 September 2007 - Macquarie Global Property Advisors (MGPA), a private equity real estate fund management company, has been announced as the highest bidder for Land Parcel A at Marina View in Singapore, which was today offered for sale by the Urban Redevelopment Authority (URA), Singapore’s national land use planning authority. 

The site, which measures 110,400 sq ft with a maximum permissible gross floor area (GFA) of 1,432,890 sq ft is 99 year leasehold land and is ideally located within the Marina Bay Business and Financial Centre and is surrounded by two existing and two planned MRT stations.

Simon Treacy, Managing Director MGPA, said, “The site presents a rare opportunity to develop a Grade A+ office building in the prime business district of Singapore where strong demand coupled with limited supply makes now an ideal time for high quality office development.

“The sites proximity to landmark developments such as One Raffles Quay, Marina Business Financial Centre, The Sail and Marina Bay Sands Integrated Resort makes it a highly sought-after location for corporates.”

Michael Wilkinson Managing Director, Development, MGPA said “MGPA plans to create a world class office development to capture the site’s full potential and make a positive contribution to the exciting built environment developing in the Marina Bay area”.

In Asia, MGPA’s funds have also made acquisitions in Japan, Hong Kong, South Korea, China and Malaysia.