Singapore Reaches for the Sky
Wealthy Singapore re-builds itself out of a slump
From Orchard Road to Sentosa Island, everything's on the move as Singapore builds its way out of the slump that began a decade ago.
Building for the Future in Sinapore:
The 1997 Asian financial crisis began a slump in Singapore that is now ending. From Orchard Road to Sentosa Island you see nothing but cranes - almost more than in Dubai if that were possible. The building frenzy will help spruce up Singapore’s image which has been suffering lately with tales of shop assistants whose rudeness almost rivalled those of Hong Kong (but not quite, you’d have to go a long way to beat Hong Kong for rudeness).
Casinos and Gaming in Singapore:
Two integrated resorts will offer gaming, leisure and convention facilities and it is hoped that these will be the catalyst behind the construction revival. To the onlooker, the destruction of existing residential developments on prime sitesmakes no sense but this is to make way for new, ultra luxurious properties, luxury hotels and shopping malls. Condominiums right on the waterfront are being snapped up even before the concrete has been mixed.
Integrated Resorts (IR’s in the new property-talk) have economic spin-offs in many areas, one of them the construction sector - especially the residential sector. Buyers want to be near the action when US gaming giant THE SANDS of LAS VEGAS is up and running. LAS VEGAS SANDS is investing more than $5 billion to erect a gaming and convention centre in the Marina Bay area and Malaysia’s Genting International is building a $5 plus casino and amusement park on Sentosa Island. 1910 is the year given for completion - at the moment.
Orchard Road, Singapore.
The luxury hotel side of the building splurge expects to see more NAMES in Neon, names that may already have a presence in Singapore but need another outlet for the 6 Star facilities that most are now aiming for. Since the arrival of the Burj al Arab in Dubai, the growth in Excutive rooms at places like Hyatt, Hilton, Four Seasons, Evason, Marriott, Regent and Dusit has been non-stop and Singapore should see even more of them.
Orchard Road, everyone’s favourite shopping street, is being re-vamped, Marina Bay and Sentosa are being re-developed. In fact if you stand still long enough you too could be re-developed!
