Marina House at 76 Shenton, in the Central Business District was sold at a cost of $148 million to a group headed by Melvin Poh, niche property developer and investor with Victor Soh of Fortune Development after a number of buyers competed to buy it.
The Hong Leong Holdings project included, in total, a 1,000 sq ft divided. This was sliced into  134 one-bedroom units from 592 sq ft to 624 sq ft, costing  $1,600 to $2,600 per sq ft  i.e., about $1.2 million, and 68 two-bedroom units of 968 sq ft to 975 sq ft priced  $1,600 and $2,300 per square feet that makes about $2 million.
Hong Leong said that the higher sales were a result of the prime location, the nominal pricing, pleasing designs and healthy pre-launch interest.
It is being suggested by analysts and experts that Hong Leong must have taken this decision to avoid involvement in putting in efforts for renewal of site’s lease from authorities.
Hong Leong Group also protected permission for redevelopment of one more of its office blocks into apartments which also has a lease renewal on the cards.