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Thread: 3rd Intergrated Resort

  1. #21
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    Business Times Singapore 18 Jan 07
    Southern Islands home to third IR?
    Smaller, more luxurious resort will feature F&B, spa, health and beauty facilities
    By Arthur Sim

    (SINGAPORE) The Southern Islands may play home to Singapore's third integrated resort, but sources say it will be on a smaller and more luxurious scale than either of the two resorts announced last year.

    Total gross floor area for all development on the Southern Islands is not expected to exceed 230,000 square metres. This is smaller than the 570,000 sq m Marina Bay Sands and the 343,000 sq m Resorts World at Sentosa.

    Most of the development will likely be on 30 ha of reclaimed land at Lazarus, Renget and Kias Islands. The total development site, comprising all seven Southern Islands, adds up to 115.6 ha - almost a quarter the size of Sentosa Island.

    The Southern Islands will be a low-rise, low intensity resort with buildings not more than four-storeys high. A casino component has not been ruled out, but the resort may not have the critical mass to support this. There is also a 10-year moratorium on casino licences following the two awarded for Marina Bay and Sentosa. More likely attractions will be food and beverage, spa, health and beauty facilities.

    The resort will be accessed by sea. International arrivals by private yacht will have to be processed through Customs, Immigration and Quarantine (CIQ), expected to be at One Degree 15 Marina Club at Sentosa. Arrivals by helicopter are being considered.

    Parts of the islands will remain open and accessible to the public, but the resort will mostly cater to a niche group of high net worth visitors - what the Singapore Tourism Board (STB) calls the 'premium plus customer segment' who seek 'total privacy'.

    STB has said that a request for concepts (RFC) for the Southern Islands could be launched as early as Q1 this year, but declined to give an exact date.

    Industry watchers are excited by the prospect of new tourism offerings here. David Ling, managing director of hospitality consultancy HVS International, said there is a market for luxury resorts in Asia.

    In Singapore, he says, 'the closest we have to one is the Sentosa Resort and Spa'. Mr Ling says luxury class tourists, mostly from Europe, Japan and Korea, think nothing of splurging between US$400 and US$1,200 a night on a villa in Phuket, Bali or the Maldives.

    Resorts of this class, however, have ample natural attractions - and Mr Ling wonders whether the Southern Islands' proximity to international shipping lanes could be an issue.

    He also says a luxury class resort must be small, with not more than, '30 to 50 keys'. 'If you have about 300 rooms, it will be more like Rasa Sentosa.'

    One of the key outcomes of the RFC will be to ascertain the land premium developers are prepared to pay. Most want to maximise the components of a project that make the numbers work - and this could mean building villas for sale.

    As such, it is understood that residential developments will be allowed if this is consistent with the islands' luxury positioning. 'In terms of capital values, a residential development will have higher value,' said Jones Lang LaSalle's regional director and head of investments Lui Seng Fatt.

    He believes that based on the success of Sentosa Cove, comparable plots of land for villas could be sold for between $7 million and $8 million. And likening the development to The Palms in Dubai, he does not think limited access will be a problem for these 'super-rich'.

    Mr Lui also expects the hotel will be small and exclusive, with no more than 200-250 rooms. It will be a luxury hotel with the cost coming to between $500,000 and $750,000 per room. 'It will be a shame if the Southern Islands are marketed at any level less than Sentosa Cove,' he said.

    Savills Singapore director (marketing & business development) Ku Swee Yong expects that the residential component on the Southern Islands could be substantial, with up to 400 condominiums, 300 bungalows with 100 hotel rooms.

    Mr Ku expects the overall land premium to be lower than at Sentosa Cove because of the infrastructure work that needs to be done. As such, he sees a price in the region of $600 psf per plot ratio, assuming the plot ratio is about 0.8-0.9. He believes the assessment of RFC submissions will be difficult because the concepts are likely to be 'varied'.

  2. #22
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    condos in southern islands? mmm...

    how to commute to mainland? yacht only?

  3. #23

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    by invitation only.. heh

    good article, amazing memory

  4. #24

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    Quote Originally Posted by kane
    condos in southern islands? mmm...

    how to commute to mainland? yacht only?
    Reliable source says it will be built in Changi Village.

  5. #25

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    Quote Originally Posted by roly8
    which big plot?


    those around jurong east mrt already taken up.
    The reserve plots surrounding the lake...

  6. #26
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    very convenient for tourist doing stopovers eh? and away from most residential estates.

  7. #27

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    Despite the good suggestions of most forumers here..

    I still feel woodlands or the northern part of SG to be quite a viable IR area..

    1: to justify cost of additional infrastructure of Thomson line and NSE
    2: ample land available - I'm not too familiar with the area, maybe I'm wrong. and land price in woodlands will still be quite reasonably priced for the new operator..
    3: IR can target Malaysian tourists and also at the same time, tap on Malaysian workforce (don't flame me, am just trying to hypothesize). This way the IR operator can easily tap into cheaper foreign labour that complements the business model.
    4: could be a projevt that taps on platform provided by M + S ventures...

    but assuming that i am right, this does not necessarily translate to an automatic increase in property price in woodlands... on the contrary, if this theory is true and the IR is built there, it may be quite unpleasant for one to stay in woodlands.
    Last edited by Ricade; 19th December 2012 at 02:49 AM.

  8. #28

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    Report was 2007. Now probably there is a re-think.

  9. #29

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    More on the Southern Islands at:

    http://en.wikipedia.org/wiki/Southern_Islands

    This is from the website:

    "However, in April 2007, STB announced that the plans for the Southern Islands have been put on hold. Industry sources said that the Government is considering housing a casino on the six-island cluster. STB met potential investors in January 2006 to gauge their interests and listen to ideas, but the results were apparently not very encouraging. To date, no decision has been made yet on the development concept, including whether a request for concepts exercise will be launched. It is the second time in three years that the authorities are rethinking plans for the Southern Islands.[6] " .

    [6] Krist Boo, "Tourism for Southern Islands put on hold", The Straits Times, 12 April 2007.


    Who knows, things may change again.

  10. #30

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    To me, Asian high rollers love the fast life and plenty of face,
    which is why they love the glitz and glamour of MBS, and
    being right smack in the cosmopolitan Marina Bay downtown,
    the pulse of the city.

    A casino in an ulu island without road access to the mainland
    wont go well with these crowd.

    The Southern Islands sound great as a high end retreat,
    but without a casino giant coming to develop, very hard
    to break even. Maybe thats why now project in limbo

    About the 3rd IR location, somebody mentioned before about the
    Marina Bay golf course being a possibility? Anyone knows abt it?
    Just beside the East Bay Garden, right smack across from MBS,
    and a long shoreline to boot too

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