The Singapore government said Wednesday it will not bail out the troubled US gaming firm Las Vegas Sands should it fail to fund the Marina Bay integrated resort. Senior Minister of State for Trade and Industry S Iswaran, speaking on the sidelines of an industry conference, said there has been no request from Sands for a bailout so far. Sands has been working to avoid defaulting on bank covenants and...
Young and old, local and foreign, the vision includes all SOME 100,000 plants will be introduced. The neighbourhood park will be transformed into a theme park for both young and old. Boon Lay Shopping Centre will be revamped. The vision is to transform Boon Lay into a tranquil suburban residential enclave with a distinctive identity, and it's not just to cater to the district's aging population. By...
IT was the only executive condominium site up for confirmed sale this year. But when the tender closed yesterday at noon, there were no bids received. The 99-year lease site in Punggol - with a land area of 22,497 sqm that can accommodate a 16-storey development - was the fourth EC site put on the market this year by the Government. The other three were on the reserve list, to be launched for tender only...
LAS Vegas Sands is to halt work on developments in Macau, where it earns two-thirds of its revenue, to focus on the US$4-billion ($6-billion) integrated resort project at Marina Bay, executives said. The casinos and resorts company run by billionaire Sheldon Adelson said it is managing to raise a further US$2.14 billion in capital following a third-quarter loss. The United States-based company expects...
Location: Irrawaddy Road (Novena) Tenure : Freehold Expected Completion: End 2011 Total Units: 70 in one block of 28-storeys Unit Types: 2 Bedrooms ~ 980sqft & 1066sqft (40 units) 3 Bedrooms ~ 1313sqft & 1346sqft (27 units) 3+1 & 4 Bedrooms Penthouses (3 units) Payment Scheme: ~ Normal Progressive with Interests Absorption (finance by OCBC) ~ 5% Booking Fee (Cash) + Stamp Duty + 15% in 8...
Las Vegas Sands said Tuesday it has secured over US$2 billion in capital funding commitments to avoid violating loan agreements. President and Chief Operating Officer William Weidner said in a conference call that Sands expects to close the transaction by the end of the week. He continued to say that however, there will be some changes to Sands' overseas resort developments. It will stop construction...
Health Minister Khaw Boon Wan said construction plans for the new Jurong General Hospital have been brought forward to take advantage of softening construction costs. In July, the government has said it is deferring another S$1.7 billion of public sector construction projects to ease pressure on the then red-hot construction sector. More hospital bed spaces are coming on-stream and drugs could get...
SPECULATION that Singapore multinational property company CapitaLand could be part of a rescue effort for the Marina Bay Sands integrated resort project is being downplayed by the developer. A company statement yesterday clarified that “no discussion has transpired between itself and Sands”. CapitaLand nevertheless stated that it is currently monitoring and studying any opportunities arising from...
The demand for and prices of public housing flats are expected to remain fairly resilient despite the economic downturn. And market watchers have said this applies to both resale and new units. Close to 9,000 people have visited the Natura Loft showflat since it was launched for sale on October 31. Its developer Qingjian Realty has already received 500 applications, mostly for four-room units...
Property developer CapitaLand said it has not held any talks with Las Vegas Sands over the integrated resort at Marina Bay. The comment follows market talk that CapitaLand may step in to take a stake in the resort, given financial difficulties at Sands. In its statement, CapitaLand said it is watching the current global environment and studying opportunities related to distressed companies or assets in...