SINGAPORE – Come New Year’s Eve, as part of the One Countdown series of celebratory events islandwide, the Marina Bay Singapore Countdown will mark the year’s end with a flurry of activities.
Visitors can look forward to a light projection showcase at The Fullerton Hotel Singapore, themed Brightening Lives; Sharing Joy, Celebrating with our Communities at UOB Plaza 1; and a spectacular 30-minute fireworks display choreographed to a curated hour-long music score.
The event, an annual highlight presented by the Urban Redevelopment Authority (URA), will usher in 2026 while also wrapping up a milestone year of SG60 celebrations.
One landmark development for Singapore’s built environment was URA’s Master Plan 2025, the statutory land use plan that guides the country’s development over the next 10 to 15 years.
The year 2025 is also the 20th anniversary of the launch of the Marina Bay brand. Back in 2005, then Minister for National Development Mah Bow Tan outlined plans to promote the area as a new focal point for the city. Urban planning strategy centred on the concept of “work, live and play” would create a vibrant, 24/7 integrated precinct with residences, businesses and leisure facilities.
Plans for Marina Bay were first conceptualised in the 1970s as an extension of the Central Business District (CBD). Today, Marina Bay is a new nexus with a mixture of offices, residences, hotels and event facilities, and is expected to continue to grow in prominence.
How did the district grow and evolve, and what other new developments can be expected in the years to come?
Initial plans were for the area to be a state-of-the-art business and financial district, alive with business opportunities and conference venues.
Since the completion of One Marina Boulevard in 2004 as the first office development, the Marina Bay office sub-market now boasts seven mixed developments with 12 office towers, amounting to approximately 10.6 million sq ft of net lettable area.
Developed by major Singapore players and partners from Hong Kong, Qatar and Malaysia, the precinct is today a highly sought-after address among multinational corporate occupiers.
Marina Bay is now home to a plethora of international occupiers from various industries – from banks to wealth management firms, professional services and legal firms, technology companies as well as occupiers from the commodities, energy and shipping industries.
International players recently taking up office space in the precinct include Zoom and Jane Street at IOI Central Boulevard Towers and Robeco Singapore at Marina One East Tower.
Rents for the Grade A offices lead the office markets, supported mainly by low vacancies at sub-5 per cent rates. This is despite right-sizing decisions from some major occupiers and decentralisation options made available over the past few years.
The lure of a prestigious, internationally renowned address remains vital for occupiers with a hub-and-spoke occupier strategy, as well as for talent attraction.
Cities around the world are evolving and placing greater emphasis on becoming multi-experiential places. Likewise, URA has been working to transform the Marina Bay area into a place of work, live and play.
