The upcoming Marina Bay Sands integrated resort (IR) in Singapore is targeting customers with high spending power. It is promising a waterfront shopping experience, with brands in the upper-middle to high end. "With integrated resorts, you normally get all sorts of different market segments - the MICE, leisure, gaming customers, and they vary from segment to segment. But we aim at attracting...
marina bay
In the Marina Bay area, transactions at Marina Bay Residences have once again reached stratospheric levels, with prices returning to levels seen in 2H2007. Sub-sales of units at Marina Bay Residences have steadily crept up from a low of $1,433 psf in April to a high of $2,500 psf last month. This is the highest price per square foot achieved not just in 2009 but since May last year, when a 3,961 sq ft...
The first phase of Marina Bay Financial Centre is now 67 per cent pre-leased ahead of its completion in the second quarter of next year. This phase includes Tower Two and the fully pre-leased Tower One. The latest tenant at the location is Servcorp, a serviced and virtual office provider. In a statement, Raffles Quay Asset management said Servcorp's seven-year lease will start next year. Servcorp will...
Fashion retailer FJ Benjamin said it will open three new outlets at the upcoming Marina Bay Sands integrated resort. It plans to bring US brand Guess, lingerie giant La Senza and the company's own fashion label Raoul to the new Marina Bay Sands Shoppes mall when it opens early next year. FJ Benjamin said it is also considering opening stores for several other brands within its portfolio of apparel...
Marina Bay Sands has leased about 75 per cent of its retail space, or 225 units of the 300 stores at the Marina Bay Sands Shoppes. The integrated resort provides over 800,000 square feet of retail and restaurant space. Sands said about half of the total retail space will be ready by the first phase of its opening in early 2010. And 80 per cent of the stores that are due to open has already been...
More than S$27.5 billion has been invested so far in the new business and financial district in Marina Bay and the government is planning to pump in a further S$1 billion in infrastructure works there over the next 10 to 15 years. Singapore's National Development Minister Mah Bow Tan announced this at the topping out ceremony for the construction of the Marina Bay Financial Centre on Wednesday...
The government is seeing some signs of speculation in the Singapore property market, according to National Development Minister Mah Bow Tan. Speaking on the sidelines of the topping out ceremony of the Marina Bay Financial Centre on Wednesday morning, Mr Mah said the government is monitoring the situation. It is uncertain if the buying momentum seen in recent months can be sustained, he added. "The...
The delay in the opening of Marina Bay Sands integrated resort could potentially mean millions of dollars in losses. Analysts say that it is not just the integrated resort that stands to lose, but Singapore could potentially see lower tourism receipts as a result. The opening of Marina Bay Sands at year-end was seen as one of the highlights in Singapore's tourism calendar, in what has been a dismal year...
The Singapore government is currently in talks with Marina Bay Sands over the integrated resort's announced delay. Another issue is a possible staff shortage as observers note Singaporeans tend to shy away from the gaming industry. The Marina Bay Sands integrated resort's opening has been pushed back to early next year. But with contractual obligations and Singapore's tourism sector at stake, the...
The opening of Singapore's first casino has been put back several months due to shortages of labour and materials, the chairman of developer Las Vegas Sands said Wednesday. Sheldon Adelson said Marina Bay Sands will open early next year for its initial phase, after being originally slotted to welcome its first visitors by the end of this year. "The opening date we seriously anticipate will be in January...