Saturday, August 18, 2007


Address : 82-90 Corporation Road
Tenure : 99 years Leasehold
District : 22
Year of Completion : 2005
No. of units : 369
Developer : CPL Boon Lay Pte Ltd

Conceived to be a lakeside garden retreat, Lakeholmz will offer you a uniquely balanced lifestyle of live, work, play and rest that is easily affordable and highly admirable. Being located in Singapore's well known lake and garden district, each apartment is carefully laid out to ensure direct view to the extensive pool and alluring garden setting that make your living a daily retreat. To top it all, the single-loading layout of each home will enjoy maximum light and natural breeze all year round.

Every apartment at Lakeholmz comes with the benefit of single loading, which means no matter which apartment you choose, you will enjoy maximum light and natural breeze all year round. To further enhance, each apartment is carefully laid out to ensure direct view of the extensive pool and alluring garden setting.

When it comes to finishing, no compromise is made to make your home a luxurious statement. Enjoy the splendour of marble flooring throughout your living and dining room. Feel the difference that only a granite vanity top in your bathrooms and kitchen counters can bring. And you will be glad of the intimidate detailing in the bedrooms.

Near Boon Lay Way & Jurong. Situated in Singapore’s well-known lake and garden district Lakeholmz offers a wonderful lifestyle of convenience and garden living. The architectural design is formed around an extensive swimming pool set within an alluring landscaped garden, and comes complete with full recreational facilities

-Management Office
-Swimming Pool
-Children Play Pool
-Bubble Pool
-Hot Spa
-Exercise Station
-Tennis Court
-Children Playground
-Multi-Purpose Room
-Jogging Track
-24-hour Security
-Car Park

At Lakeholmz, amenities from shopping to sports, are all so conveniently nearby - which makes life a breeze for all in the family. And with the Lakeside MRT Station just 5 minutes away, the rest of Singapore is within close range.

You won't have to venture far to enjoy the serenity of nature. After all, the Chinese and Japanese Gardens are just around the corner. You can also take in the beauty of Lakeholmz's landscaped gardens for your personal pleasure.

With Jurong Point shopping mall, Boon Lay Shopping Centre, Boon Lay Food centres, Jurong Bird Park, Chinese Garden, Japan Garden, Jurong Country Club and other recreational facilities nearby, your every need is catered to.

Easy access to the AYE, PIE and KJE also ensure you are never too far from other parts of Singapore.

You'll also appreciate the close proximity of various educational facilities to Lakeholmz. A benefit your children will enjoy as it saves precious time on travelling - time best used for other things life

•Boon Lay Place Block 221A Market
221A Boon Lay Place Singapore 641221
How far? 0.52 km
•Boon Lay Place Block 221B Food Centre
221B Boon Lay Place Singapore 642221
How far? 0.54 km
•Jurong West Street 52 Block 505 Market And Food Centre
505 Jurong West Street 52 Singapore 640505
How far? 0.86 km

•Lakeside MRT Station (EW26)
201 Boon Lay Way Singapore 649845
How far? 0.53 km
•Boon Lay MRT Station (EW27)
301 Boon Lay Way Singapore 649846
How far? 1.24 km
•Chinese Garden MRT Station (EW25)
151 Boon Lay Way Singapore 609959
How far? 1.78 km

•Boon Lay Shopping Centre
221 Boon Lay Place Singapore 640221
How far? 0.65 km
•Taman Jurong Shopping Centre
399 Yung Sheng Road Singapore 610399
How far? 0.95 km
•Jurong Point
1 Jurong West Central 2 Singapore 648886
How far? 1.12 km

•Yuan Ching Secondary School
103 Yuan Ching Road Singapore 618654
How far? 0.37 km
•Boon Lay Garden Primary School
20 Boon Lay Drive Singapore 649930
How far? 0.40 km
•Lakeside Primary School
161 Corporation Walk Singapore 618310
How far? 0.48 km

Lakepoint Condo

Lakepoint Condominium is situated at Lakepoint Drive which is near to Lakeside MRT Station, therefore it is convenient for residents traveling to the city. Nearby amenities include Boon Lay Shopping Centre, food centres and HDB shops are located within a short stroll away.

Address : 2 - 10 Lakepoint Drive
Tenure : 99 years Leasehold
District : 22
No. of Units : 304
Year of Completion : 1983
Developer : Jurong Town Corporation

Unit sizes:-
2 bedrooms: 85 - 97 sq m
Maisonette: 175 - 206 sq m
Townhouse: 231 - 316 sq m
Penthouse: 254 - 303 sq m

-Swimming Pool
-Wading Pool
-Tennis Court
-Squash Court
-BBQ Area
-24 Hours Security


Map Source :
Mighty Mind Street Directory

•Lakeside MRT Station (EW26)
201, Boon Lay Way Singapore 649845
How Far? 0.62 km
•Boon Lay MRT Station (EW27)
301, Boon Lay Way Singapore 649846
How Far? 1.18 km
•Chinese Garden MRT Station (EW25)
151, Boon Lay Way Singapore 609959
How Far? 1.80 km

•Boon Lay Shopping Centre
221, Boon Lay Place Singapore 640221
How Far? 0.79 km
•Taman Jurong Neighbourhood Shopping Centre
399, Yung Sheng Road Singapore 610399
How Far? 0.81 km
•Jurong Point Shopping Centre
1, Jurong West Central 2 Singapore 648886
How Far? 1.10 km

•Lakeside Primary School
161, Corporation Walk Singapore 618310
How Far? 0.32 km
•Yuan Ching Secondary School
103, Yuan Ching Road Singapore 618654
How Far? 0.38 km
•Boon Lay Garden Primary School
20, Boon Lay Drive Singapore 649930
How Far? 0.43 km
•Rulang Primary School
6, Jurong West Street 52 Singapore 649295
How Far? 0.73 km

Are Malls Here Competitive?

Source : Weekend TODAY, August 18, 2007

New study will address growing trend of Reit-owned malls

IT IS Asia’s ninth most expensive shopping street, where all major luxury brands of the world converge.

And soon, posh Orchard Road — together with its humbler cousins in Hougang or Bedok —will come under more scrutiny in the Government’s first comprehensive study on retail mall rentals.

The study is being done by none other than the Competition Commission of Singapore (CCS) — a statutory board under the Ministry of Trade and Industry — which was formed two years ago to help eliminate or control practices which have an adverse effect on competition.

In its tender for consultants to lead the six-month long study, it said it wants to better understand the demand for such rental space and the key issues affecting this competitiveness, such as the growing trend of more malls being owned by Real Estate Investment Trusts (Reits).

Property analysts welcomed the study, saying it was timely considering how rental rates have been heating up, especially in the downtown area.

Propnex chief executive Mohamed Ismail said: “The retail mall rental market is becoming more sophisticated. More Reits are coming in, they’re gaining a foothold. My take is that rental space is still fairly adequate and not that tight, because of so many new players coming in.”

Just last month, both CapitaLand and Hong Kong’s Sun Hung Kai Properties unveiled plans for new shopping centres along Orchard Road — the $700 million Ion Orchard and the $650 million Orchard Central near Somerset MRT station respectively. Both will open by the end of next year and boast a total of about 800 shops and food outlets.

The trend of more Reit-owned malls, he said, was uncommon several years ago but was now fast making its presence felt and raising expectations about how retail shops should perform.

Smaller tenants have long complained about how Reits — which derive income from rentals — have caused rents to creep up due to the unceasing drive for higher shareholder returns.

For the first six months of this year, rents for retail space at Grade A malls in Singapore went up by between 5 and 7 per cent, said property firm CB Richard Ellis.

Rents of units on levels with the highest traffic along Orchard Road registered an average of $34.40 per square foot (psf) a month, close to the average of $35.10 in 1996. There is room for another 5 to 6 per cent rise by the end of the year, it added.

Chesterton International’s head of consultancy and research Colin Tan hoped the CCS’ findings would bring out the plight faced by small and medium enterprises (SMEs) in the rental market.

“The way the retail scene is shaping up, it affects SMEs the most. I believe the Government is concerned for them, seeing how bigger players who can afford higher rents are squeezing them out,” he told TODAY.

He described how one well-known pharmacy would bid high amounts to secure prime space in a mall, with its main purpose being to maintain market presence and not to make big profits.

His view was echoed by Savills Singapore’s marketing and business development director Ku Swee Yong, who spoke of how one famous label regarded lucrative rental space as part of its branding exercise.

“They treat their rental costs as part of their marketing budget. They see it as a good investment and much cheaper than advertising in the media. It’s all about visibility,” he said.

Mr Ku urged the CCS to continue such studies and publish the findings, to “show where the benchmarks are”.

When contacted for comments, a CCS spokesman said the study was part of its efforts to build up knowledge of different industries in Singapore.

“The study is the first market study that we are undertaking,” he said, noting that competition authorities in the United Kingdom, for example, undertook studies to see if there were competition-related issues that needed looking into.

Upon completion of the study by next March, the CCS will decide how best to make use of the study findings and could share them with relevant stakeholders

Fed Injects US$6b Into Financial System

Source : Channel NewsAsia, 17 August 2007

WASHINGTON : The US Federal Reserve on Friday injected six billion dollars into the distressed financial system, the Federal Reserve Bank of New York said.

The New York Fed, which handles such operations for the Fed, made the cash infusion, the bank said on its website.

The central bank earlier Friday cut its discount rate to commercial banks to 5.75 percent from 6.25 percent in a surprise move marking its most decisive action since fears of a global credit crunch swept global markets.

"Financial market conditions have deteriorated, and tighter credit conditions and increased uncertainty have the potential to restrain economic growth going forward," the Fed cautioned in a statement.

The central bank has pumped a total 94 billion dollars into the financial markets since August 9 to ease tightening credit stemming from the troubles roiling the US housing market. - AFP /ls

Fed Cuts Discount Rate Amid Market Turmoil

Source : Channel NewsAsia, 17 August 2007

WASHINGTON : The US Federal Reserve on Friday cut the interest rate it charges commercial banks in a surprise move marking its most decisive action since the financial markets became gripped by fears over a global credit crunch.

The Fed said it had lowered the rate it levies on loans to banks by 50 basis points to 5.75 percent, citing "increased uncertainty" in the financial markets.

"Financial market conditions have deteriorated, and tighter credit conditions and increased uncertainty have the potential to restrain economic growth going forward," the Fed cautioned in a statement.

The central bank lowered the so-called "discount" rate to help soothe the US banking system which has been stressed in the past week by a credit crunch linked to the distressed housing market.

It is extremely unusual for the Fed to act outside of its scheduled rate meetings and the last time it did so was on September 17, 2001, after the terror attacks that targeted New York and Washington.

Dow Jones Industrial Average futures trading jumped sharply in the wake of the Fed's announcement, surging 231 points to around 13,175 points at 1319 GMT, ahead of the formal opening of trading on Wall Street.

The central bank's move does not affect its key short-term federal funds interest rate which stands at 5.25 percent.

The Fed - which has also injected tens of billions of dollars into the stretched financial system in the past week - said it had trimmed its discount rate in a bid to restore "orderly conditions in financial markets" which have been rocked by credit fears and the troubles plaguing the housing market.

"Although recent data suggest that the economy has continued to expand at a moderate pace, the Federal Open Market Committee judges that the downside risks to growth have increased appreciably," the Fed said.

The central bank said it was continuing to monitor the situation and that it was ready to act as necessary "to mitigate the adverse effects on the economy arising from the disruptions in financial markets."

The central bank's move was approved by Fed chairman Ben Bernanke and other Fed governors.

"This step is a considerable move to inject liquidity into the system well beyond the previous liquidity injections," said Stephen Gallagher, an economist at Societe Generale.

"This step shows a commitment to restoring liquidity rather than broadly reflating the economy," Gallagher said.

The Fed said it was also extending the repayment period on what are typically overnight loans for as long as 30 days to help ease tightening credit conditions further.

US banks have tightened their lending practices in recent weeks as the financial storm affecting mortgage firms has worsened and many investors have shunned mortgage-backed securities amid a jump in home foreclosures.

"Effectively, the discount rate cut, along with the Fed's second announcement of an extended term loan availability, has provided unlimited reserves to banks over this weekend and for the month ahead if needed," said John Silva, a chief economist at Wachovia Corporation.

"(The) Fed has effectively eased through the back door," Silva said, adding "it is not clear if there is a single bank problem or if this is a response to general liquidity shortage." - AFP/ch

Bursting Of Sub-Prime Bubble Healthy, Says Economist

Source : The Business Times, August 18, 2007

WHILE much uncertainty remains over the equity markets, the unravelling of the US sub-prime mortgage problems is a healthy development that should benefit economies over the longer term, a Singapore conference was told yesterday.

At the CPA Forum, Deutsche Bank's chief economist Sanjeev Sanyal said it was a welcome sign that the bubble should burst, adding that this is 'better than allowing the problem to fester'.

He was referring to knock-on effects of the crash in the US sub-prime mortgages market, which has resulted in stockmarket downturns across the world.

Some of the major issues from the fallout include the ownership of financial products backed by sub-prime loans, and the absence of a secondary market for these instruments. As a result, these products cannot be easily priced, and the uncertainty over the investment climate continues.

Mr Sanyal believes that the credit crunch in the US may affect consumption there, hitting Asian exports as a result.

However, the impact on India could be limited owing to its strong domestic demand, said Satyanarayan Ramamurthy, head of corporate finance at KPMG Singapore. Speakers pointed out that savings rates in India have been rising in recent years, and this provides more resources for the country to undertake capital-intensive projects.

As for Singapore, Mr Sanyal believes the fundamentals remain strong owing to robust domestic demand here, backed by the retail sales numbers. 'There is a growth engine particularly led by investments in building and construction which I think is very visible and which we have seen come through in the numbers in recent months,' he said.

He noted that domestic demand had driven second-quarter growth here to an impressive 8.6 per cent.

Also at the forum was Macquarie Bank's Simon Lyons, head of financial services group in Asia, who believes that there will be a lot more due diligence carried on investments in future.

Moreover, transparency levels may rise and 'we should come out of this far better than before', he said.

Yesterday, conference participants were also told that the infrastructure sector may benefit from the current crisis, as investors look to such assets as 'long-term investments with low risk characteristics', said Mr Ramamurthy.

And Asia is an attractive destination, due to the shortage of quality infrastructure assets in emerging markets here. 'However, the challenge is for the governments to create frameworks for investors to reap returns from their investments,' he said.

Mr Lyons has this advice for long-term investors: 'Just stick to the fundamentals - good-quality stocks in the appropriate markets, diversification is key, and avoid leveraged positions.'

Asia-Pac Land Plans Reit In S'pore

Source : The Business Times, August 18, 2007

TOKYO-BASED Asia Pacific Land Group is looking to raise at least S$500 million through listing a real estate investment trust (Reit) in Singapore, banking sources said yesterday.

Asia Pacific Land is said to have hired JPMorgan and Lehman Bros for the initial public offering, which would be the first Singapore-listed property trust by a Japanese company.

Sources said the privately held company, which has US$1.5 billion of assets under management, wants to divest some of its Japanese retail and office properties into the property trust.

'It's not just about listing a portfolio of properties, but about creating a regional fund management platform in Singapore,' said one source familiar with the deal. Asia Pacific Land declined to comment.

Bankers say Singapore's Reit market - the third largest in Asia-Pacific after Australia and Japan - could be attractive to Japanese firms seeking to divest foreign assets via property trusts.

Japanese real estate funds manager Re-plus Inc is said to be in talks with Citigroup to list a Singapore property trust based on its office building assets in China.

Unlike Singapore Reits, which have foreign assets ranging from shopping malls in China to hospitals in Indonesia, Japanese-listed Reits are not allowed to hold offshore assets. -- Reuters

Non-Oil Domestic Exports Start Second Half With A Bang

Source : The Business Times, August 18, 2007

(SINGAPORE) After a slim year-on-year gain of 1.8 per cent in the first six months of 2007, non-oil domestic exports got off to a promising start in the second half by growing 5.5 per cent in July.

The rate of growth beat market expectations of 4.6 per cent and was the fastest pace in six months, following expansion of just 1.2 per cent in June.

Although domestic exports of electronic goods, which account for about 40 per cent of NODX, fell for a sixth straight month in July, the 10.6 per cent decline was the smallest drop in six months.

And according to economist Song Seng Wun of CIMB: 'With a less demanding year-ago base, tech exports should do better in the second half.'

Non-oil re-exports (NORX) grew 11.2 per cent in July - again the fastest pace in six months, boosted by stronger electronics and non-electronics NORX, and pointing to improving regional demand.

Related link:
IE Singapore's press release

'While the current volatility in the financial markets may still affect the real economy in the coming months, the macro fundamentals of Asian economies, especially Singapore at this juncture, remain largely intact,' Mr Song said.

Month-on-month, July's figures - released yesterday by trade promotion agency International Enterprise (IE) Singapore - are not so impressive. Seasonally adjusted NODX growth was just 0.5 per cent up from June, against 2.9 per cent in June from May, causing some economists to have reservations.

Citibank's Chua Hak Bin told Reuters: 'The figures partly confirm that the tech recovery will be sluggish in the second half and dim the outlook for the manufacturing sector.

'Asian electronics manufacturers could see a contraction in orders. The slowdown in electronics exports can be protracted because US consumer confidence has been hit by the problems in the housing sector.'

Still, non-electronics NODX has shown it is capable of picking up at least some of the slack. Led by pharmaceuticals, non-electronics shipments rose 20.3 per cent in July, after a 13 per cent increase in June.

'Pharmaceutical exports will continue to underscore Singapore's export growth,' said CIMB's Mr Song.

Singapore also seems to be as diversified in the markets it exports to as in the goods it exports. Although shipments to major markets like the US, Indonesia, Taiwan and Hong Kong fell in July, those to the rest of Singapore's 10 largest markets rose.

'Specifically, the EU 27, South Korea and Japan made the biggest contributions to NODX expansion in the month,' said IE Singapore. Shipments to the EU jumped 23 per cent, from 13 per cent in June. Those to Korea increased 29 per cent and those to Japan rose 15 per cent.

'It is encouraging to note that the EU, Japan, China (and others) have taken up the slack in exports to the US,' Mr Song said. 'This could be an indication that slower US economic growth in the coming months may not hurt export-dependent Asian economies as severely as previous US down-cycles.'

Floating Hotels Under Study But Won't Be Ready For F1 Race

Source : The Business Times, August 18, 2007

They are one of the options being explored to address tight room supply

SINGAPORE) Visitors may one day sit inside their floating hotels and admire Singapore's coastline, but this is unlikely to happen in time for the Formula One race in September next year.

The Singapore Tourism Board (STB) said, however, that this novel form of accommodation, which it is exploring, could alleviate the overall tight hotel room situation here.

The Business Times reported on Thursday that floating hotels could be commissioned to ease the room crunch that is expected during the inaugural Singapore Grand Prix to be held on Sept 28, 2008, and that existing cruise ships might be retrofitted with hotel-like facilities and moored off Changi or Labrador Park to provide up to 1,000 rooms each.

But STB said in a statement yesterday that 'even if we are to proceed with the floating hotel concept, it is unlikely to be ready by September 2008 when Singapore hosts its first Formula One Singapore Grand Prix'.

'The STB's intent in exploring the possibility of introducing floating hotels in Singapore has always been to alleviate the current tight hotel room situation, and not specifically to address the needs of a particular event,' said Caroline Leong, director of STB's travel and hospitality business.

She added: 'Discussions on the possibility of developing floating hotels are still in its exploratory stage. We have yet to receive a firm proposal. Should there be firm interest from investors, an in-depth feasibility study will have to be undertaken with the relevant government agencies to establish the appropriate location and the necessary infrastructural developments required for such a floating hotel concept to work.'

She said exploring alternative accommodation is part of ongoing efforts to offer more hotel options because of the tight supply situation. Singapore's tourism sector has posted strong growth in visitor arrivals over the last three years, with a new record of 9.7 million visitors and $12.4 billion in tourism receipts set last year.

The hospitality industry also continued its growth trend with the average occupancy rate (AOR)reaching a record high of 85 per cent in 2006. The average room rate (ARR) also touched a peak.

The strong performance has continued this year, with the first half of 2007 growing a strong 9.0 per cent in tourism receipts and visitor arrivals rising 5.2 per cent compared to the same period in 2006.

Hotel occupancy and room rates are now at all-time highs, with the ARR from January to June 2007 increasing by 19.5 per cent to $192, while the AOR reached 86 per cent. Revenue per available room (RevPar) hit $165.9 and gazetted hotels in Singapore generated total room revenue of $854.4 million, said STB.

'These developments have triggered interest among investors to build more hotels in Singapore,' said Ms Leong, adding that STB has been working closely with the Urban Redevelopment Authority to identify more Government Land Sale (GLS) sites, so that the hotel sector can ride on the favourable environment. Eight GLS sites have been sold since August last year, and will contribute some 2,700 additional rooms.

'The STB has been approached by investors who are not only interested in building green-field hotels, but also those who are keen to bring in other creative accommodation concepts such as floating hotels and the adaptive re-use of existing buildings,' she said.

The board said it welcomed the interest because this is in line with its ongoing efforts to provide visitors with a wider choice of accommodation options, as well as ensuring that there are sufficient hotel rooms to meet its long-term target of welcoming 17 million visitors by 2015.

And while the floating hotel idea is still being explored, it was received enthusiastically by Philip Ho, general manager of online travel retailer Zuji Singapore. 'Even with the vessel anchored, the views would be magnificent. Imagine how amazing the sunset would look from Labrador Park,' he said.

Crowded Orchard Rd Waits For Smoother Lane

Source : The Business Times, August 18, 2007

STB consulting industry players before announcing plans to bring more zip to Singapore's retail heart

SINGAPORE) It is at the heart of Singapore's retail sector, but with an estimated 1.5 million visitors flocking to Orchard Road every week, it could do with some serious help.

Less fuss, more buzz soon: STB says details of pedestrian mall improvement works on Orchard Road will be released shortly. But retailers are keener on an amelioration of the traffic situation, which they say is so bad that it requires an in-depth overhaul, not just cosmetic surgery.

That could come soon, with the announcement of a masterplan by the Singapore Tourism Board (STB). Retailers, however, say that the traffic situation is serious enough to warrant an in-depth overhaul, rather than just cosmetic surgery.

STB would not say what is in store except that details of pedestrian mall improvement works would be released shortly.

Sources, however, say that there are plans to reduce the number of lanes on Orchard Road and widen the pedestrian mall. And there could also be a separate initiative by the government to provide covered linkages between the malls.

It is understood that STB had recently engaged Orchard Road stakeholders for their views and is now in the process of re-evaluating this feedback.

The $40 million makeover was first mooted in Parliament in early 2005.

A year later, the inter-agency Orchard Road Rejuvenation Taskforce (ORRT) said that the work to transform the shopping strip would begin in early 2007.

Work has yet to begin in earnest - save for a crosswalk lighting project at Bideford Junction - and the hold-up appears to be the proposed plan to reduce the number of lanes in Orchard Road, as well as the cost of improved infrastructure like covered linkways.

Singapore Retailers Association executive director Lau Chuen Wei said that what retailers and businesses want is a solution to the traffic flow, 'so that people going to Orchard Road can navigate the junctions, side roads and merging traffic more easily'. She added: 'Closing off a lane to make way for pretty trees and lamp-posts is not really a solution.'

There are no secondary service roads for certain stretches of Orchard Road, so goods deliveries have to be made via the main thoroughfare, clogging up lanes. 'What Orchard Road needs urgently is an in-depth study of traffic flow to ease congestion. It's not a matter of imposing toll charges, but actual infrastructure,' Ms Lau said.

There have been suggestions that a whole system of covered linkways and underground passages be built to improve connectivity, but Steven Goh, spokesman for the Orchard Road Business Association, notes that some of the existing underground links are not really utilised.

Cushman & Wakefield (C&W) managing director Donald Han reckons $40 million may be enough for 'cosmetic surgery' like the provision of street furniture and interactive street light crossings but may not be enough for 'major transplant operations' such as providing more subsidies for shopping centre owners to link buildings.

Orchard Road is nevertheless popular. In a recent C&W report, it was noted that Orchard Road sees about 1.5 million visitors every week. And even if it is not the most popular shopping street in the world, it is at least ranked by C&W as the 13th most expensive in terms of rental.

Mr Han said: 'To be fair, the Urban Redevelopment Authority and STB have gone a long way in their efforts to revitalise Orchard Road.' There are now street vendors, kiosks, restaurants, coffee bars on the walkways. 'In the past, these were not allowed,' he added.

The real revamp of Orchard Road is likely to be in the hands of developers like Hong Kong-based Park Hotel Group (PHG), which bought the old Crown Hotel in 2005 and now plans to redevelop it into a high-end shopping mall and boutique hotel.

For PHG director Allen Law, the proposition to buy and redevelop the old hotel is a no-brainer. 'Orchard Road is one of the best roads to walk along - the weather is nice, the air is clean, and there is a lot of greenery to enjoy. People don't want another air-conditioned mall filled with all the standard brand names; they want an experience. Focusing on the uniqueness is vital to success,' he said.

CapitaLand is another developer with a big stake in Orchard Road through its upcoming Ion Orchard shopping mall.

CapitaLand Retail CEO Pua Sek Guan is equally bullish on the strip's future. And as iconic as Ion is going to be, Mr Pua understands that the Orchard Road experience 'cannot be re-created in one mall alone'.

Although Ion will not have a covered walkway to the neighbouring mall, Mr Pua said CapitaLand will be creating a 3,000 square metre public space fitted out with water features, LED screens and audio systems for public entertainment. The cost? 'It's not a small sum,' he said.

Tangs CEO Foo Tiang Sooi says he is all for 'strengthening the precinct' too. The revamp, when the details are announced, may indeed have some adverse changes but Mr Foo says: 'One has to take a broader view.'

Fed Joins Fight Against The Credit Fireball

Source : The Business Times, Sat, August 18, 2007

US central bank slashes primary discount rate in unusual move to make available liquidity to banks

(WASHINGTON) In a surprise move to calm rattled financial markets, the US central bank made a half percentage point cut yesterday in the rate at which it lends money to other banks and at the same time made a fresh injection of another US$6 billion into the distressed US financial system.

Mr Bernanke: His rate cut bolsters US and European stocks
The moves sent European and US stocks soaring. But market euphoria later faded as investors questioned whether the Fed's action would be enough.

The Dow Jones Industrial Average was up 151.68 points, or 1.18 per cent, at 12,997.46 just before midday. It had earlier risen more than 300 points. The Standard & Poor's 500 Index was up 21.72 points, or 1.54 per cent, at 1,432.99. The Nasdaq Composite Index was up 31.33 points, or 1.28 per cent, at 2,482.40 after earlier rising as high as 3 per cent.

The pan-European FTSEurofirst 300 index unofficially closed 2.4 per cent higher, at 1,475.99 points, after rising as much as 3.5 per cent after the Fed's move. The benchmark index, which closed the week 0.2 per cent down, had dropped to a year low of 1,426.51 points earlier in the session.

'There's still just as much of a risk that the market could be down another 5-10 per cent three months from now,' said Michael James, senior trader at regional investment bank Wedbush Morgan in Los Angeles.

'I don't think we've solved all the credit market problems with this move from the Fed today. Are they going to get worse? We don't know. I don't think anyone knows with certainty that things won't get worse than they are right now.'

Bank stocks, which have borne the brunt of recent credit market turmoil, were some of the biggest initial gainers. At the same time, the Chicago Board Options Exchange Volatility Index, Wall Street's main barometer of investor fear, dropped 9.28 per cent to 27.97.

The Federal Reserve, in a highly unusual move, lowered the primary discount rate governing direct loans to banks to 5.75 per cent from 6.25, a move intended to boost the amount of money available in the financial system.

Fed policy-makers also dropped language indicating their bias towards fighting inflation, and instead highlighted a rising threat to economic growth.

But the Fed did not change its target for the more important federal funds rate, leaving the benchmark interest rate at 5.25 per cent.

The cut is highly unusual, given that the Fed does not normally change interest rates in between its regular, six-weekly meetings.

The last time it did so was after the 9-11 attacks, when the financial markets were closed. The latest move, which again unusually came just before the US markets opened yesterday, showed how seriously the Fed was viewing the escalating fallout from the sub-prime crisis.

'Financial market conditions have deteriorated, and tighter credit conditions and increased uncertainty have the potential to restrain economic growth,' the Federal Open Market Committee said in a statement released in Washington. 'The downside risks have increased appreciably.'

The committee is 'prepared to act as needed to mitigate the adverse effects on the economy arising from disruptions in financial markets', the statement said.

This is the first reduction in borrowing costs between scheduled meetings since 2001, and Ben Bernanke's first as Fed chairman. Officials kept the benchmark federal funds rate target for overnight loans between banks at 5.25 per cent. Policy-makers next meet to set the rate on Sept 18.

The action 'will basically do more to unclog the credit channels than a fed funds rate cut would have,' Drew Matus, senior economist at Lehman Brothers Holdings Inc in New York who used to work at the Fed, told Bloomberg. -- Reuters, Bloomberg, NYT, AFP

Suburban Malls Can Command Rentals Close To Prime Locations: Analysts

Source : Channel NewsAsia, 17 Aug 2007

Captive shoppers in heartlands - like Jurong, Woodlands, and Tampines - are catching the eye of retailers.

And analysts say that is why some suburban malls can even command rentals similar to some prime downtown locations.

Some of Singapore’s heartland malls have been as big a hit with shoppers as their more upscale cousins in Orchard or the Raffles City area.

AMK Hub in Ang Mo Kio is the latest heartland mall on the block - following others such as Causeway Point in Woodlands and Jurong Point.

Food and beverage players at AMK Hub say the key is to choose areas with offices or government services so that the lunchtime crowd can help boost sales.

Mok Yip Peng, Managing Director, Soup Restaurant Group, says: “Our lunch crowd is made up of administration staff and executives from industrial parks and offices nearby while dinner is made up of families and newly-wed couples. The rental costs in downtown locations are slightly more expensive. The key benefit is that lunchtime crowd is guaranteed. As for dinner and weekend crowds, it’s about the same for both downtown and suburban locations.”

Besides offering dining options to working professionals, mall operators say crowds flock to heartland malls for the easy access to services and generally cheaper goods.

Peter Seetoh, Executive Director, Knight Frank Shopping Centre Management, says: “Convenience is a big factor because they can get what they need on a daily basis. But if they need something more in the higher fashion end, they’ll probably need to go downtown. The price points in the heartland malls are also more competitive from S$50 to about S$100 price range.”

However, rental costs for malls in the heartlands are not always cheaper.

It is estimated that the rental cost for shops in the basement AMK Hub works out to be about S$15 per square foot.

Property analysts say this is comparable to locations like Suntec City.

Orchard Road rents go for an average of S$20 per square foot.

And analysts say the higher rents in the heartlands can often be justified.

Daisy Loo, Retail Director, Jones Lang LaSalle, says: “Retailers do favour them, particular ones, because they have these captive shoppers group, which is their demand for goods and services is less fluctuating, more consistent. And also, they are less susceptible or less vulnerable to economic fluctuations, economic conditions or tourist arrivals.”

Jones Lang LaSalle research shows rents for malls in the heartlands dipped only 3 per cent during the the Asian economic crisis in 1997.

This compared to a 27 per cent fall in the Orchard Road belt and a 20 per cent decline in other downtown areas like Marina Bay. - CNA/ch

A Scandal Called Sub-Prime

Source : Weekend TODAY, 18 Aug 2007

Buyers who should have known better than to take out loans they could not afford. But they did.

Bankers and financiers who should have exercised due diligence when making high-risk loans or buying into financial instruments related to them as a means of improving their bottom lines. But they didn’t.

Add to this a government which failed to act when it should have and you have a powerful time-bomb waiting to explode.

That, in a nutshell, is the sorry tale of the still-unfolding sub-prime fiasco, scandal, debacle — take your pick — in the United States.

And now, what began as a uniquely American problem has rattled stock markets from Europe to Asia in recent weeks and sparked fears that a full-blown American recession — with all its attendant ramifications for the global economy — is on the horizon.

And to think that the sub-prime lending scheme started with the best intentions, at least at the start: To help millions of Americans with below-average incomes or poor credit to buy their own homes.

Many of the recipients of what are typically 30-year loans — sub-prime loans are especially popular in the African-American community, where the home ownership rate is less than 50 per cent — weren’t even asked to supply documentation showing how much they earned.

Not surprisingly, when “teaser” rates of, say, 7 per cent expired after two years and rates of 11.5 per cent kicked in — boosting monthly payments by a third — huge numbers of mortgage-holders found themselves unable to afford the homes they had only just bought.

The price of such wanton disregard for basic economic sense?

Beyond the current worldwide credit crunch, early estimates suggest that as many as 2.2 million sub-prime loans worth a total of US$164 billion ($252 billion) will go bust, leaving untold millions of new US homeowners bankrupt, with their houses in foreclosure and with even worse credit records than they had when they started out.

At minimum, new home sales can be expected to drop by as much as 40 per cent and real estate prices to plunge by as much as half in some areas, striking a crushing blow to the housing and construction industries that are among the key drivers of the US economy.

Many analysts have likened the situation to a national scandal, with the number of defaults and foreclosures still to peak and the extent of the financial fallout — including billions of dollars in potential lawsuits by homeowners, investors, mortgage company shareholders and investment banks — yet to be fully assessed.

While it’s tempting to lay all the blame for the mortgage crisis and its spin-off effects at the feet of ignorant borrowers who got in way over their heads, greed-driven US financial institutions and misguided — or non-existent — government policies played a central role.

Until a few years ago, the rules of fiscal responsibility still held sway in the US home-loan market, with lenders approving mortgages for applicants with reasonably good credit histories and with documented proof that they could cover their mortgage with about 35 per cent of their gross salary.

Then, in 2004, persistent calls from the US government to boost stagnant home ownership rates prompted then-Federal Reserve Chairman Alan Greenspan to encourage lenders to provide a wider range of alternatives to the traditional fixed-rate mortgage.

With the Fed keeping interest rates low and Wall Street primed to take greater risks, the stage was set for lenders to go into “Let’s Make a Deal” mode.

And so began the era of “low-doc” and “no-doc” loans, where borrowers were asked to provide little or no documentation of their ability to repay.

In short: No job? No income? No assets? … No problem! Well, no immediate problem for lenders, that is.

While sub-prime borrowers — roughly half of whom are from minority races — were locked into risky adjustable-rate loans, investment houses sold them as high-risk securities that offered eye-popping returns of as much as 20 per cent.

By last year, sales had reached US$503 billion — a five-fold increase from 2003, according to

But even as the profits were piling up, the bottom began to fall out as the adjustable rate loans began being reset to the higher monthly premiums.

Predictably, loan default rates promptly shot through the roof and the Wall Street behemoths that had capitalised on the boom, such as Goldman Sachs and Morgan Stanley, began taking heavy losses.

The resulting domino effect hit even companies and people with no connection to the mortgage scandal, but who are suffering nonetheless from their inability to get credit amid the ongoing squeeze.

As for homeowners who may lose everything as a result of signing up for mortgages they should have known they could never afford, there’s not even the solace of knowing their government did everything it could to avert the crisis.

In fact, as the situation came to a head, the Fed and State regulators which supervise lenders either gave ineffective guidance or none at all.

Admittedly, a bipartisan group in the US House of Representatives did champion a regulatory bill in late 2005 and early last year, but it was promptly killed by laissez-faire Republicans who claimed the market would correct the problem.

Finally, in June, the Fed and other regulating agencies issued new guidelines for adjustable rate mortgages which require borrowers to prove they can repay the loan even after the teaser rate expires.

To use an old American adage that is as applicable in the world of finance as it is in farming, it was a case of closing the barn door after the horses had escaped.

More worryingly, however, the late response was also symptomatic of a deeper and all-too-common disease — that seems to afflict Wall Street and Washington in equal measure — where good sense and due diligence are put aside in the name of amassing the funds necessary to leverage ever-bigger deals.

Never mind that the limitless greed of the financial world’s Gordon Geckos inevitably leads to the collapse of their schemes, damages the system they exploited and makes victims of the people they claim to serve.

Already in America, the mortgage meltdown is further depressing housing prices and making cash-strapped consumers less likely to buy goods imported from overseas, while around the globe it has taken a huge bite out of the holdings of small investors.

Concerns about how far the crisis could go hang over world markets like a black cloud.

The US faced a similar crisis in the 1980s when hundreds of savings and loan companies went belly-up, and it’s telling — and terrifying — to realise that 20 years later, the world’s biggest economy still hasn’t cleaned up its act.

Property En Bloc Deals Expected To Slow In H2: Consultants

Source : Channel NewsAsia, 18 Aug 2007

The value of en bloc deals done in the second half of this year could slow down compared to the first six months, as sentiments in the property market turn cautious.

But property consultants say total deals are still likely to hit $16 billion - double that of last year - due to an exceptionally active first half.

A combination of factors - including uncertainties in the financial markets prompted by the US sub-prime crisis and the government’s move to raise development charge rates - could have dampened developers’ appetite for more land.

Karamjit Singh, MD of Credo Real Estate says: “Over the last one month or so, things have turned somewhat cautious. There were a lot of discussions about whether the government could cool the market and how they would implement measures.

“Developers have also bought quite a bit of sites in the first half of this year. Some of them are telling us that they have bought more than they ever intended for the entire year, so they will need to slow purchases until some of their new projects get off-loaded.”

Other developments include an impending change in en bloc laws that could make it tougher to conclude a deal, and a growing legal spat between buyers and sellers of Horizon Towers.

Property consultants say owners may now need to temper their expectations in terms of asking prices.

“I would think that most of the en bloc sales will not reach the prices that the owners want to sell at. Horizon Towers was in a situation where, when the deal was signed, the market spiked up a lot. But in today’s situation, are we going to expect another hike in the market at that kind of rate? That’s questionable,” says Dennis Yeo, MD of Colliers International.

But for homeowners who are worried that they may have missed the boat for en bloc sales, analysts say there could still be a silver lining.

“What may also happen on the flipside is that some en bloc sellers’ expectations may turn more realistic. Prices may drop a bit, thereby motivating some developers waiting by the wings to take the bite,” says Credo Real Estate’s MD.

There were over $11 billion worth of en bloc deals in the first six months of this year, with many projects setting new record prices. - CNA /ls

Signed And Sealed With A Handshake, Yet No Deal

Source : The Straits Times, 18 Aug 2007

Amid the hot property market, both in rental and sale, my search for a place to rent has exposed unethical behaviour on the part of both agents and landlords.

When I first moved to Singapore in 2002, looking for a place to rent was a hassle-free process.

Sure, often places I liked were out of my price range, but that was to be expected. At least a price was cited at the beginning and if you accepted it, you provided a letter of intent and a cheque. You shook hands and the deal was done.

Not so anymore. I have been looking for a new place to rent for the past couple of months after my landlord increased the rent 400 per cent. Not once, but three times, have I looked at a place, accepted the stated price, signed a letter of intent, shaken hands, and handed over a cheque, only to receive a phone call from the agent or landlord that the price had gone up.

My family has wasted a tremendous amount of time and energy running around the island, meeting agents and going back with our chequebooks, only to be told that they were negotiating with other people on the side the entire time.

I am upset by such unethical behaviour. An eye-to-eye agreement with a firm handshake is now meaningless.

It saddens me in particular that this is often done deliberately, with agents and landlords making deals with several people at the same time, demanding signatures and cheques from them, and then making a selection.

Hence, we are still homeless, even though we are willing to lower our standards significantly in terms of both size and style, move farther out of the city, and pay twice or triple what we currently pay in rent.

Perhaps at this rate we should just move out of Singapore as it is increasingly becoming a less attractive place to live in. If many expatriates do likewise, what will happen to real-estate values?

Laura Thornton-Olivry (Ms)

Fed Cuts Rate, Pumps In $9.2b

Source : Weekend TODAY, August 18, 2007

EVEN as Singapore stocks fell for the third straight day on Friday — as panicked selling set regional stock markets awash in a sea of red—winds from the West were blowing in hope of a break in the storm when markets reopen on Monday.

In a surprise one-two move, the United States Federal Reserve announced it was cutting its discount rate by 0.5 percentage points to 5.75 per cent, and said it was prepared to take further action to “mitigate” damage to the economy from the rout in global credit markets.

It also pumped US$6 billion ($9.2 billion)— the third injection in less than two weeks — into the distressed financial system.

“Financial market conditions have deteriorated and tighter credit conditions and increased uncertainty have the potential to restrain economic growth going forward,” said the central bank’s Federal Open Market Committee in a statement. “The downside risks have increased appreciably.”

The effect of the rate cut was immediate. European stocks jumped the most in four years while US stock-index futures, too, rallied.

The Standard & Poor’s 500 Index had surged 29.07, or 2.1 per cent, to 1,440.34 soon after opening in New York. The Dow Jones Industrial Average climbed 291.18, or 2.3 per cent, to 13,136.96. The Nasdaq Composite Index rose 71.18, or 2.9 per cent, to 2,522.25.

Meanwhile, the Dow Jones Stoxx 600 Index jumped 3 per cent to 363.05 at 1.36pm local time in London, the biggest gain since April 2003. The Stoxx 50 advanced 2 per cent, while the Euro Stoxx 50, a measure for the Euro region, gained 2.6 per cent.

The Fed’s move, said fund manager Vafa Ahmadi at CPR Asset Management in Paris, “provides more liquidity to a market that needs it terribly. It’s a bowl of oxygen to those who couldn’t refinance”.

The US central bank reduced the rate at which it makes direct loans to banks—the first time it has so acted outside its regular ratesetting meetings since 2001.

“The Fed was going to have to do something and this seems to be a good step,” said Mr Malcolm Polley of Stewart Capital Advisors. “I’m hopeful that this will be enough.”

In Singapore, the Straits Times Index (STI) dropped below the psychological 3,000-point level intraday but recovered in late trade, as did some regional stock markets. After losing nearly 6 per cent intraday, the STI closed 0.7 per cent down at 3,130.71.

As worries that the US housing loan crisis might lead to economic recession gripped Asian investors, the Nikkei 225 Stock Average led the market falls.

It ended 5.4 per cent down at 15,273.68, the lowest level since August last year. The fall in percentage terms was also the largest since the 911 terror attacks.

The yen, meanwhile, rose to 14-month highs against the US dollar on Friday, as heightened aversion for risk led to the unwinding of the so-called carry trade.

But economists were mostly confident Asia’s economies would withstand global economic shocks because of robust domestic consumption. Said UBS AG economist Jonathan Anderson: “Even if the US consumer does go into recession, the overall impact on Asian exports should be much lower than the last time around.”

Going by events on Friday, that possible recession seems to have been staved off for now. — AGENCIES

MM Upbeat As Fed Cuts Rate

Soure : TODAY, August 18, 2007

AT ABOUT 8pm on Friday, the sub-prime woes gripping the United States and the after shocks bleeding the world’s financial markets received a surprise lifeline when the US Federal Reserve slashed its discount rate by 0.5 percentage points to 5.75 per cent.

Less than an hour later, halfway around the globe, Singapore Minister Mentor Lee Kuan Yew had these words of assurance for his Tanjong Pagar residents: Don’t worry,
the “nervousness” in the financial markets would go away soon.

“Whatever the troubles, they will go away in weeks, if not months. What we are absolutely sure of (about) East Asia is that it is set to grow. Nothing will change the longterm plans and growth of China and India, and the rest of Asia,” he said at his constituency’s National Day dinner. Adding that the US and European markets were “beginning to settle down”, Mr Lee added: “Just in the last few weeks, trillions of dollars had been wiped out in the stock markets of the world. But it will come back.”

Mr Lee said that Singapore’s future is secure, at least for the next decade — not least because of the Republic’s domestic harmony.

“We have positioned ourselves well. When we say the Pledge, it’s not empty words. It’s real and it’s true. You can see around you: Equal opportunities and shared prosperity,” said Mr Lee, who added that the first generation leaders’ decision on adopting English as the country’s lingua franca has paid off immensely.

But while the “big pieces” are in place, Singapore is not without its problems —namely a shrinking, ageing population that is unable to support the growing economy

As the country turns to imported labour, this leads to another "huge" problem, that of income disparity, which the Government will tackle by supplementing workers' income and raising the value of Singaporeans' assets by rejuvenating Housing Board estates, said Mr Lee (picture).

"The economic growth is here to stay for the next 10, 15 years or more. Because of globalisation, our less-educated have to compete against the less-educated from China and India. (But) we will solve the problem as long as we have growth."

And to make sure Singapore's growth continues, it's important "to have MPs and Ministers who think long term and work long term". Which is why the search is on for the Republic's fourth generation of leaders, said Mr Lee.

"Before the next elections, the Prime Minister and his team must talent-spot and headhunt for candidates in their 30s and early 40s."

To drive home his point about the drastic changes taking place and their profound effects on the world, Mr Lee turned his attention to an issue half a world away: The melting of the polar ice cap in the Arctic.

"The Russians are claiming a big chunk of the ice cap. The Canadians also ... they say, as the ice melts, the ships will be passing Canadian waters," he said. "One quarter of the world's oil and gas may be under that ice cap. Countries ... around the Arctic will make their claims."

And amid the sea of changes, Singapore "cannot stand still", said Mr Lee. Its people must continue to put up with painful but necessary changes.

He added: "We have to make serious changes and hard decisions. We made the right decision from the beginning."

Japanese Firm To Raise $500m In S'pore Reit

Source : The Straits Times, Aug 18, 2007

TOKYO-BASED Asia Pacific Land Group is looking to raise at least $500 million through listing a real estate investment trust (Reit) in Singapore, banking sources said yesterday.

Asia Pacific Land is said to have hired JPMorgan and Lehman Brothers for the initial public offering, which would be the first Singapore-listed property trust by a Japanese company.

Sources said the privately held firm, which has US$1.5 billion (S$2.3 billion) in assets under management, wants to divest itself of some of its Japanese retail and office properties by putting them into the trust.

'It's not just about listing a portfolio of properties, but also about creating a regional fund management platform in Singapore,' said a source familiar with the deal.

Bankers say Singapore's Reit market - the third-largest in the Asia-Pacific after Australia and Japan - could be attractive to Japanese companies seeking to divest themselves of foreign assets through property trusts.

Reits have taken off in Singapore since the first one was listed in 2002. Singapore has 16 listed property trusts with a total market capitalisation of more than US$15 billion.

Japanese real estate fund manager Re-plus is said to be in talks with Citigroup to list a Singapore property trust based on its office building assets in China.

Unlike Singapore Reits, which have foreign assets ranging from malls in China to hospitals in Indonesia, Japanese-listed Reits are not allowed to hold offshore assets. -REUTERS

Marina Magic

Source : Singapore Public Utilities Board

Outdoor enthusiast Lisa is water-skiing, skimming gracefully across the smooth expanse of water. From the promenade, her friends watch and wave, as they wait for a water-taxi. In the background, a family has just entered an eye-catching building on the waterfront. Mom and Dad head for the café to grab a cuppa, while young Zul eagerly drags Grandpa to an intriguing display of gigantic water-pumps in motion.

Outside, an open-air concert is in full swing as a small crowd claps along. A couple from England takes in the stunning scenery as they stroll hand-in-hand across the water. On one side of the bridge is fresh water, flanked by lush greenery and the Singapore skyline; on the other, sweeping views of the open sea.

The year is 2007. The place: Marina Barrage at Marina Bay. This scenario will be reality when the Marina Barrage is completed. The Marina Barrage is part of a larger vision set out by the Urban Redevelopment Authority for Marina Bay to be a city-in-a-garden to live, work and play in. In 2004, PUB awarded the contract for construction of the barrage to Koh Brothers Building and Civil Engineering Contractor Pte Ltd. Construction began on 3 January 2005, and the project is expected to cost $226 million. The barrage was first conceived almost 20 years ago. The arduous ten-year task of cleaning up the Singapore River had just been completed, when Mr Lee Kuan Yew, then Prime Minister, mooted the idea of damming up the Marina Channel.

With the barrage in place, the water within the Marina Basin would turn into freshwater through natural flushing. The resulting body of freshwater would then serve as a reservoir to boost Singapore’s water supply. Because the barrage would allow the water level in the basin to be maintained, it would also help to control flooding of low-lying areas in the city centre, an occasional occurrence when heavy rains coincide with high tides.

The sheer scale of the project is huge. Spanning 350 metres, the barrage will comprise nine steel gates. Lowering these will release excess water from the basin into the sea during heavy rains. When high tides concide with heavy rain, seven pumps (each capable of pumping 40 cubic metres of water per second) will swing into action to force water out of the basin and into the sea. This integrated approach will help spare low-lying areas, such as Chinatown, Little India and Rochor, from flooding in future. Provisions also have to be made for boats in the basin to move to and from the open sea even with the barrage in place. They may, for example, need to be sent elsewhere for maintenance and repairs. The solution is a hoist, to lift or lower the vessels from one side of the barrage to the other.

Besides the actual mechanics of the barrage, another challenge concerns the quality of water to be collected in the new reservoir. Being in the heart of the city, the reservoir’s 10,000-hectare catchment will be made up of highly urbanised areas. At the time that the barrage was first suggested, the technology for treating water from this urbanised catchment was not available at an affordable cost.

We can now be confident of meeting this challenge. Today’s advanced membrane technology allows the water to be treated to drinking standards. Upstream, measures have also been implemented over the years to minimise water pollution. All rainwater in the catchment area flows into a dedicated network of drains leading to the basin. As Singapore is 100 per cent sewered, the rain collection network is separate from the sewerage system to avoid contamination.

Complementing all the activities on the water will be the Visitor Centre being built next to the barrage. Set in and blending with the surrounding greenery, this distinctive, shell-shaped structure will beckon to those curious about the barrage and showcase Singapore’s efforts to achieve environmental sustainability. In keeping with the theme, the building will be a real-life example of 'green' architecture. It will incorporate points of interest like soothing water features and event spaces too. Besides the exhibits, visitors will be able to take a good look at the powerful barrage pumps. Best of all, they will also have a chance to walk on the barrage itself to savour the sea-breeze and be dazzled by the panoramic views. From there, it will be just a leisurely stroll to the necklace of other attractions at Marina Promenade, Marina East and Singapore’s second Botanic Gardens.

The architecture of the building boasts many features that will help to enhance the visitor’s experience

At the same time, PUB has been working with the 3P (people, public and private) sectors to keep Singapore’s waterways clean. For example, construction companies can minimise silt discharged from their worksites, while members of the public can help by not littering.

Water supply and flood control – these two aims could clearly be met. But PUB did not stop at two. The Marina Barrage presents a unique opportunity to create a new destination for recreation. And this is where its immediate impact will be most visible to Singaporeans. With its consistent water level, the basin will be an ideal venue for fun activities such as water-skiing and canoeing, in addition to the water-taxis and cruises already plying the bay. And with no more unsightly low tides, the basin will be a beautiful, shimmering backdrop for water-based arts performances, cultural events and sporting competitions. There will be something for everyone to enjoy and a part for everyone to play in keeping the water clean and clear. PUB’s message to Singaporeans is apt – to conserve and value our water even as we enjoy it.

Be dazzled by the Marina Barrage Visitor Centre and Pump Station, day and night.

Complementing all the activities on the water will be the Visitor Centre being built next to the barrage. Set in and blending with the surrounding greenery, this distinctive, shell-shaped structure will beckon to those curious about the barrage and showcase Singapore’s efforts to achieve environmental sustainability. In keeping with the theme, the building will be a real-life example of 'green' architecture. It will incorporate points of interest like soothing water features and event spaces too. Besides the exhibits, visitors will be able to take a good look at the powerful barrage pumps. Best of all, they will also have a chance to walk on the barrage itself to savour the sea-breeze and be dazzled by the panoramic views. From there, it will be just a leisurely stroll to the necklace of other attractions at Marina Promenade, Marina East and Singapore’s second Botanic Gardens.

The Sail @ Marina Bay

The Sail @ Marina Bay would be the new icon set at the skyline of Marina Bay, which is located in Marina Boulevard. It is considered a 6-star waterfront lifestyle condominium.

An architectural icon soars to greet the sky, the structure of The Sail is 245 metres and 70 storey high. The Sail is Singapore's tallest condominium / apartment and it is among the top 10 tallest residential building in the world.

This development offers panoramic city view of Marina Bay and the sea. It is close to the Suntec City, proposed Integrated Resort with Casino, Esplanade, Singapore River. Targeted to set a new benchmark for an integrated lifestyle environment.

From 1 bedroom to 4 bedroom types as well as penthouses, all 1,111 luxury units are meticulously designed to maximise space usage and to integrate both office and home into one complete lifestyle concept.

Location : Marina Boulevard (District 2)


Raffles Place MRT Station (EW14-NS26)
5, Raffles Place Singapore 048618
How Far? 0.31 km

Marina Bay MRT Station (NS27)
21, Marina Station Road Singapore 018990
How Far? 0.72 km

Clarke Quay MRT Station (NE5)
10, Eu Tong Sen Street Singapore 059815
How Far? 1.01 km


The Arcade
11, Collyer Quay Singapore 049317
How Far? 0.2 km

Clifford Centre
24, Raffles Place Singapore 048621
How Far? 0.21 km

Change Alley Aerial Plaza
60, Collyer Quay Singapore 049322
How Far? 0.22 km


AIT Academy And Unicampus, Stamford Campus
73, Stamford Road Singapore 178895
How Far? 1.41 km

AEC-Open Learning (Private School)
8, Queen Street Singapore 188535
How Far? 1.64 km

Pearl's Hill (Primary School)
175A, Chin Swee Road Singapore 169879
How Far? 1.69 km

Developer : City Development Ltd and AIG

Project Consultants:-
-NBBJ and Kiat Inc (Concept Design Consultants),
-Team Design Architects Pte Ltd (Architect),
-Belt Collins International (Singapore) Pte Ltd (Landscape Consultant),
-Meinhardt Singapore Pte Ltd (M&E Engineer),
-Meinhardt Singapore Pte Ltd (C&S Engineer),
-Davis Langdon & Seah S’pore Pte Ltd (Quantity Surveyor),
-Axis ID Pte Ltd (Project Interior Designer)

Tenure : 99 years Leasehold
Expected Date of TOP : 31st December 2009
Expected Date of Legal Completion : 31st December 2013
Total Units : 1,111

Unit Types:
Studio ~ 592 - 818 sq ft
2 bedrooms ~ 883 - 1,356 sq ft
3 bedrooms ~ 1,184 - 2,002 sq ft
4 bedrooms ~ 1,776 - 2,185 sq ft
Penthouse ~ 3,391 - 6,297 sq ft

Related Video Link :
The Sail @ Marina Bay

-Spa / Aqua Gym Pool
-Lap Pool
-Children's Pool
-Main Pool
-Tennis Courts
-Jogging Track
-BBQ Area
-Children's Playground
-Steam Bath / Massage Therapy Room
-Exercise Studio

Every unit at The Sail @ Marina Bay will take full advantage of its iconic location with commanding views of the spectacular Marina Bay and beyond, the impressive skyline of Singapore or the aerial park vista of the neighbouring Central Linear Park.

For excellent service with a ready smile, rely on the hotel-styled concierge, exclusively only for residents of The Sail @ Marina Bay.

Indulge in the infinity-edged pool. Work out at the unique aqua gym, or the comprehensive gymnasium with a panoramic vista of the Marina Bay. Luxuriate in extensive spa facilities. Play a game at the tennis courts. Everything you need for total health and wellness is right here.

The Recreation Room and Executive Club Lounge on the 34th storey of the Central Park Tower and 44th storey of the Marina Bay Tower sky terraces, respectively, are lavishly furnished and spill out to open-air gardens. Landscaped for meditative fitness, the sky terraces present breathtaking views of the dynamic skyline and the sea.

The 28 Districts or Mukims of Singapore

Following are some briefs details of the 28 Districts of Singapore covering the Street/Road Names, Condo/Apartment Listings, Commercial/Industrial Properties, Major Estates & Landmarks. Email me for any more updates or amendments