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| Singapore: The Lion city's new showcase. Marina Bay emerging as a world-leading business, financial and recreation centre. |
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| Written by Kanana Katharangsiporn |
| Sunday, 16 August 2009 19:19 |
Singapore: The Lion city's new showcase. Marina Bay emerging as a world-leading business, financial and recreation centre.Singapore is proving to the world, and also challenging Hong Kong and Tokyo, that the small island city-state can be a world-leading business and financial hub with the government-led development project Marina Bay. land reclaimed in the 1970s from the sea.  The government has spent a total of S$7.5 billion to date on infrastructure, excluding land reclamation. The infrastructure includes a comprehensive common services tunnel network, a system of purpose-built underground tunnels housing and distributing various utilities services to all developments in Marina Bay. Also will be three new underground mass rapid transit stations, as part of new Downtown Line, where underground pedestrian will link to surrounding developments.  It is constructing ann iconic double-helix pedestrian and vehicular bridge, new road extensions to the city and airport, coastal expressways, and a 3.5-km-long continuous waterfront promenade forming a walking loop linking up the attractions. At the same time, the International Cruise Terminal, due to start operation by the end of 2011, is being developed by Singapore Tourism Board. Another S$1 billion is promised to inject for future infrastructure in the next 10 years, said Fun Siew Leng, group director of Urban Planning & Design with the Urban Redevelopment Authority (URA), Singapore's national land use planning and conservation agency. "Despite an economic downturn, we are continuing with investment and development. This is a long-term plan and we cannot plan a development project based on an economy that has ups and downs," she said. "We have passed many economic cycles during the development of Marina Bay which takes more Ethan 30 years. When the market is not good, we keep monitoring the situation and open biddings of lands in line with the changing environment." The URA has laid out the development plan around the bay under the concept of live-work-play environment, giving developers the flexibility to decide on the mix of uses such as housing, offices, shops, hotels, resorts, recreational facilities and community spaces.  Along the waterfront and fronting key open spaces, buildings heights are deliberately kept low to maximise views to and from individual developments further away from the waterfront, creating a dynamic three-dimensional "stepped-up" skyline profile. The URA was appointed in 2004 as the development agency for Marina Bay to co-ordinate the development efforts, implement key infrastructure and promote investment opportunities and programme activities. The investment from the private sector started in 2001. The first project was developed by One Marina Boulevard Pte Ltd, an international consortium comprising Cheung Kong (Holdings), Keppel Land and Hongkong Land. It was later named One Raffles Quay. To date the project has drawn S$20.2 billion of private real estate investments from both local and international investors. Mega projects for leisure include The Singapore Flyer, the world's tallest observation wheel; Marina Bay Sands, Singapore's first integrated resort; and The Float at Marina Bay, the world's largest floating stage; and Singapore's first Art Park. The first night Formula One Grand Prix night race was held in September last year in Marina Bay. As Marina Bay is aimed to be new central business district (CBD) extending seamlessly from the existing CBD, it will support the country's growth as Asia's major business and financial hub.  When completed, it claims to provide 3.45 million square metres of office space adding the existing office space at the current CBD Raffles Place. They will be from Marina Bay Financial Centre (MBFC), first phase of which will be completed next year, 50 Collyer Quay in 2010 and Asia Square Towers 1 and 2 completed in 2012. Currently, completed residential area is The Sail @ Marina Bay, the tallest condominium in Singapore at 245 metres and 70 stories high. Upcoming will be a condominium tower and luxury villas in phase two of MBFC. "Investors interested in developments must bid for land that is offered with freehold and leasehold types and we will consider distinctive design, business model and pricing," said Ms Fun. Greenery all around is also in the plan. The URA is developing a green area where trees will be planted - Gardens by the Bay, made up of three interconnected waterfront gardens totalling 101 hectares and due to be completed in 2012.
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Belarus: We are looking for investor for IT project in educational area!Belorussian IT company is looking for investor to expand IT project in educational area to new countries! Project idea: to redevelop already created web-based tutor software for pupils and students (www.examen.by). Please contact our investments team for details.
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Marina Bay will transform Singapore’s skyline by 2013. The government has spent a total of S$7.5 billion to date on infrastructure, excluding land reclamation.
