The site was sold as a "white" site, which means the developer is free to use the site for commerical and/or residential use.
The 99-year leasehold site was launched for public tender on the 14th of March, 2002.
After the sale, the developer indicated their intention to use it predominantly for residential use with the first level or two for shop units. Their plan was approved by the government.
When completed, it will include the first residential development in the Marina Bay and will be the tallest predominantly residential development in the city.
The site area is 9,090.9 square metres with a maximum permissible gross floor area of 118,182 square metres.
The number of storeys was revised upwards from 69 to 70 storeys for Block 1, and from 58 to 61 for Block 2 after the finalisation of designs by NBBJ in March 2004.
The complex was designed by Norwegian-American architect Peter Pran. He gave the buildings a glass facade, sculpted Tower 1 to look like a sail, and configured the complex representative of a huge canyon, reflecting his utilisation of inspirations by the sun, the wind, and the water respectively.
It will offer about 1,100 99-year leasehold residential units in one to four room configurations, as well as 4 penthouses, with the largest almost 9,000 square feet in size.
It has 29,000 square feet of retail space, and an underground link to the Raffles Place MRT Station.