Since its launch in February 2006 as part of the Quayside Collection—a waterfront lifestyle precinct alongside W Singapore hotel and The Residences at W Sentosa Cove—Quayside Isle has served as the only dining and retail offering within luxury Sentosa Cove.
Nearly two decades later, owner City Developments Limited (CDL) has placed the asset on the market. The sale comes as part of CDL’s ongoing capital recycling strategy, following earlier divestments of non-core assets.
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Sale details
The waterfront retail asset at 31 Ocean Way is presented with a guide price of S$111 million (~S$2,515 psf) and is open to both local and foreign buyers. The sale is being run as an Expression of Interest (EOI), which concludes on 15 October 2025 at 3 p.m.
Site features
| Detail | Description |
|---|---|
| Asking price | S$111 million (approx. S$2,515 psf) |
| Site size | 89,683 sq ft |
| Net lettable area | 44,121 sq ft |
| Parking | 78 basement spaces |
| Zoning & duties | Commercial zoning; no ABSD or SSD |
Quayside Isle spans a site area of about 89,683 sqft with an estimated 44,121 sqft of net lettable area, and over 200 metres of uninterrupted marina frontage. The development comprises two blocks: one single-storey and one double-storey. It includes a basement car park with 78 lots.
Quayside Isle occupies a 99-year leasehold site with about 80 years remaining. The property is more than 90% leased, reflecting healthy demand.
Tenants include long-time F&B operators such as Greenwood Fish Market, Mykonos, Sole Pomodoro Trattoria Pizzeria, and Blue Lotus Chinese Eating House. Other restaurants include Miska (Mediterranean), Gin Khao (Thai), Two Chefs Bar (Mexican and Italian), and Sabio by the Sea (Spanish grill and tapas). Newer additions like Common Man Coffee Roasters and Rock Bar Burger and Steakhouse add to its appeal, alongside lifestyle tenants such as The Culinary Academy, a dance studio, and a martial arts school.
Non-F&B tenants have also played a role in building the enclave’s character, with long-standing operators including Hera Beauty hair salon, Jason’s Deli, Quayside Isle Preparatory School, and Straits Wine Company.
As a commercial asset, the property is available to local and foreign purchasers with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) payable.
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Market commentary
Quayside Isle’s value is closely tied to its catchment of well-heeled residents and the island’s steady flow of visitors. That base is growing stronger again as tourism recovers.
Singapore welcomed 16.5 million international visitors in 2024, a 21% jump from the year before. Singapore Tourism Board stats show that receipts hit S$22.4 billion last year, setting a new record. This backdrop makes lifestyle retail assets tied to tourism more attractive to investors.
At the same time, URA’s latest figures suggest that the retail market is steady but selective. In Q2 2025, rents for retail space rose 0.9%, reversing a small dip in Q1, while prices barely moved up just 0.1%. The islandwide vacancy rate edged up to 7.1%, as more space came onto the market than was taken up. In plain terms, demand hasn’t disappeared, but it is concentrating in the most distinctive and well-located assets.
The timing for the sale also aligns with CDL’s wider capital divestments. CDL’s most recent move was the sale of a 50.1% stake in South Beach mixed-use development, to IOI Properties for an estimated S$834 million.
This divestment is one of the largest in its recent portfolio and highlights CDL’s intent to “crystallise exceptional value” and redeploy capital toward higher-yielding opportunities. Selling Quayside Isle now makes sense given the improving tourism backdrop and steady rent environment.
Michael Tay, deputy managing director and head of capital markets at CBRE Singapore, notes that Quayside Isle’s strong occupancy and steady rental stream make it attractive for investors looking for immediate income stability. The asset also offers room for growth through “rental reversion, repositioning of tenants, and optimisation of its gross floor area”, subject to the necessary approvals.
Sentosa’s growth trajectory
Sentosa has long been one of Singapore’s top leisure and tourism destinations, attracting both locals and international visitors year-round. Its appeal is further strengthened by high-profile events such as the Singapore Yacht Show, international regattas, and golf tournaments at Sentosa Golf Club.
The island’s entertainment and hospitality offerings continue to expand, with Resorts World Sentosa’s $6.8 billion RWS 2.0 expansion introducing over 700 hotel rooms, the upcoming luxury Laurus hotel, and new dining and lifestyle concepts like the Weave complex.
Attractions such as the Singapore Oceanarium, Minion Land at Universal Studios Singapore, and the soon-to-open Super Nintendo World, alongside the 30,000 sqm Sensoryscape experiential attraction, reinforce Sentosa’s position as a premier leisure hub.
Quayside Isle’s waterfront location and position as the only waterfront retail hub in the enclave, is also tied to Sentosa’s broader transformation. Ongoing initiatives such as Resorts World Sentosa’s RWS 2.0 expansion and the Sentosa–Brani Master Plan are expected to boost tourism and events traffic, supporting long-term rental and capital appreciation for the mall.
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