Singapore Land's (SGX:U06) indirect subsidiary, Marina Residential Development, signed four agreements to acquire a land parcel for around SG$99.1 million, according to a Wednesday filing with the Singapore Exchange.

Shares of the property developer were up nearly 4% in Thursday trading.

The agreements with Marina Center, Hotel Marina City, Aquamarina Hotel and Marina Bay Hotel are for a 3,992 square meter land parcel which is part of the Marina Square complex in Singapore.

Following the completion of the acquisition, the land will be transferred to Marina Residential Development.

Meanwhile, completion of the acquisition will take place four weeks form the date of the grant of the certificate of title from the registrar of titles.