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Old June 17th, 2006, 03:02 AM   #1
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New Hotel / Commercial / Mixed Use Sites for development

June 17, 2006
New hotel sites expected to spur foreign and local interest
They will cater to STB's forecast rise in tourists to 17 million by 2015

By Property Correspondent, Joyce Teo

FOREIGN and local developers are expected to show keen interest in the new hotel sites put up for development by the Government on Thursday.

The big guns will surely fight over the large site housing the former Non-Commissioned Officers' Club and Beach Road Camp buildings while the smaller blocks will meet the under-served middle segment, market players said.

The new sites will cater for an expected increase in visitor numbers, National Development Minister Mah Bow Tan said yesterday.

'If you go by STB (Singapore Tourism Board) projections of 17 million visitors by 2015, what we have today...that's just to cater for the eight million you have. If you double that, you are talking about another 30,000 to 35,000 rooms,' he said.

There are about 37,000 hotel rooms in Singapore now.

Assuming all the sites are sold, and factoring in hotels already planned at Marina Bay and Sentosa, the room supply will rise by at least 20 per cent over the next few years.

Industry watchers said this slew of new hotel sites comes as occupancy and hotel rates are rising. And while the supply now is sufficient, the sites will cater to future demand.

Over the past year, foreign hotel groups such as Hong Kong's Park Hotel Group, India's Taj Hotels, Resorts and Palaces and Europe's Accor have expressed interest in investing in Singapore.

Industry players said the former NCO Club site could attract overseas hoteliers looking to establish prominent frontage in one of Singapore's prime districts.

A local hotelier said: 'The site will attract major names yet to have a foothold in Singapore, because in order for a major brand to have a foothold here, they need a prestigious location.'

The Government also made available seven other smaller sites for hotels.

They are in less coveted areas such as Balestier Road and Tanjong Pagar Road, but may still draw in smaller local and possibly foreign players.

The hotelier said: 'The five-star market is relatively crowded...so there would be interest from players keen to build up the mid-tier market.'

Another hotelier, Mr Loh Lik Peng, who owns the boutique Hotel 1929 and the New Majestic Hotel, wants one of the sites. 'These are new-builds. I wouldn't mind trying,' he said. 'When you do something unique, you can top the market.'

Ms Tay Huey Ying of Colliers International said the owner of Amara Hotel would be keen on the Tanjong Pagar sites to ward off competition.

City Developments said it would continue to evaluate the new hotel sites.

The new sites will allow for a greater variety of hotels, Mr Mah said yesterday, from those staying in a six-star at the integrated resorts to people wanting something more modest. 'You've got to cater to the different types of tourists,' he said, adding that the Government is mindful of not flooding the market.

Apart from the NCO Club conservation site, the other sites are on the reserve list so they go up for tender only if a developer commits to a minimum acceptable bid.

'Let the market decide...that way we are not saddled with a situation where we overshoot or underprovide,' Mr Mah said, noting that the recent Robertson Quay site was triggered fairly quickly, indicating strong demand.

joyceteo@sph.com.sg

ADDITIONAL REPORTING BY TAN HUI YEE

Copyright © 2006 Singapore Press Holdings. All rights reserved.
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Old June 17th, 2006, 04:16 PM   #2
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Business Times - 17 Jun 2006

Mah: S'pore needs to increase land capacity

More commercial space needed to keep up with economic growth


By UMA SHANKARI

SINGAPORE must continue to boost its land capacity as economic gains accelerate, National Development Minister Mah Bow Tan said yesterday.

'In order to support the economy that is growing really fast, we need to make sure that there is sufficient office and commercial space,' he told reporters yesterday.

'And of course, the residential market is also very strong and we need to provide capacity for that.'

Mr Mah also told reporters that the number of hotels have to increase to cater to more visitor arrivals, which the Singapore Tourism Board (STB) forecasts will hit 17 million by 2015.

He was speaking a day after details of the Ministry of National Development's second-half land sales programmes were released. Eight of the 15 new sites unveiled on Thursday are slated for hotel development or have a minimum stipulated hotel component.

If developed, the new hotel sites will add about 3,000 rooms to Singapore's stock. According to STB, Singapore now has 36,922 rooms.

Addressing suggestions that Singapore could face an oversupply of hotel rooms with the upcoming integrated resort (IR) at Marina Bay, Mr Mah said: 'If you look at what we have today, we have something like 35,000 rooms - that's just to cater to the 8 million visitors we have currently. So if you double that (to cater to estimated 17 million visitors), you are talking about another 35,000 rooms. So the 2,500 rooms that the IR is going to provide is really not going to be enough.' The new hotel sites will also cater to tourists who want lower-end and cheaper accommodation, unlike what the IR will offer, Mr Mah said.

Most of the new hotel sites on the government's second-half land sales list are away from the Orchard Road belt - in areas such as Little India and Robertson Quay - and can be expected to fetch lower room rates.

More hotel sites could be forthcoming, Mr Mah said. But while more rooms are needed, the government will not release too many at one go because that could flood the market. Instead, it will push out further sites at a steady pace.

Mr Mah also spoke about a 'first' on the government's land sales front - a site that can be used for retirement housing - in Jalan Jurong Kechil.

The lease on the site has been fixed at 30 years so the land cost will be lower and will not pose as a stumbling block for developers who might want to develop retirement housing, said Mr Mah.

Copyright © 2005 Singapore Press Holdings Ltd. All rights reserved.
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Old August 15th, 2006, 03:11 PM   #3
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New Hotel/Retail/Entertainment Sites

15 Aug 2006
First of six hotel sites up for bids

Singapore has released the first of six sites meant for hotel development, that are contained in the government land sale list for the second half of this year.

The Urban Redevelopment Authority, or U-R-A says the application for a site along Mohamed Sultan and Nanson Roads is now open.

This means developers can make their interest known to the URA, by committing to bid for the land parcel at an acceptable minimum price.

URA says the 2 thousand 900 square metre site is located along the Singapore River, and close to the Central business district and to the Chinatown areas.

The land parcel has a 99-year lease and has an allowable height limit of 10 storeys.

Nicholas Mak, Director of Research and Consultancy at Knight Frank, says the site is best-suited for a budget to mid-class hotel.

"I think the site is quite suitable for a three star to four star hotel which can be developed into 130 rooms and looking at the surrounding area, I think it can probably cater to some business travellers as well as some tourists."

Mr Mak adds the site could draw just lukewarm response from developers as they'll want to assess this site against the viability of the other five sites for hotel development.

In addition, most developers will have to tie up with hotel management companies to run the hotel.

Nonetheless, he says the site could attract a bid of as much as 26 million dollars.

"I think the potential land price that could result from a tender of this site could range from about 18 and a half million dollars, which is about 200 dollars per square foot per gross floor plot ratio, to as high as about 26 million which is 300 dollars per square foot per gross floor ratio."

Copyright © 2006 MediaCorp Radio New Media Development
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Old August 15th, 2006, 04:59 PM   #4
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URA releases sales conditions for Mohd Sultan/Nanson Rd reserve site

15 Aug 06

SINGAPORE : The Urban Redevelopment Authority (URA) has released the sales conditions for a reserve site at Mohamed Sultan Road/Nanson Road.

The site, located along the Singapore River, has been zoned for a hotel development of up to 10 storeys.

The land parcel has a site area of about 0.29 hectres and a gross plot ratio of 2.8.

It can generate a maximum permissible gross floor area of about 8,210 square metres.

The lease period is for 99 years.

The site is one of the six hotel sites put up for sale on the Reserve List of the Government Land Sales Programme for the second half of 2006.

Under the reserve list system, it will only be placed out for tender if an interested party offers to bid a minimum purchase price that is acceptable.

The other five hotel sites on the reserve list are located at New Market Street/Merchant Road, Balestier Road/Ah Hood Road, Tanjong Pagar Road (Site A & B) and Upper Pickering Street.

By Priyia Paramajothi, Channel NewsAsia
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Old August 15th, 2006, 05:01 PM   #5
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Location of the Mohd Sultan Rd Hotel sales site:

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Old August 16th, 2006, 06:52 AM   #6
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thats an interesting perspective drawing!
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Old August 16th, 2006, 04:10 PM   #7
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I think it looks cool....would be great if more of such images of other areas could be made available or sold, like Orchard area.

In London I saw some impressive montages of all the London buildings condensed together...would be great if we had something similar in Singapore.
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Old August 21st, 2006, 11:20 AM   #8
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Aug 21, 2006
InterContinental group aims to run 8 more hotels in S'pore

By Property Correspondent, Joyce Teo

SINGAPORE'S ambitious plan to double tourist arrivals to 17 million by 2015 has prompted the British-based InterContinental Hotels Group (IHG) to map out its own bold blueprint for expansion here.

The chain, which operates three hotels in Singapore, hopes to run at least eight more properties within five years ranging from three- to five-star hotels.

Its Singapore-based senior vice-president of development and asset management in the Asia-Pacific, Mr Anthony South, outlined to The Straits Times the group's five-year wishlist: a second five-star InterContinental hotel, one or two more five-star Crowne Plaza hotels and two additional four-star Holiday Inn hotels.

The group will also introduce to Singapore its three-star chain, Express by Holiday Inn. It has plans for at least four such hotels but may operate up to eight.

IHG is one of the world's largest chains, with 3,600 hotels across the globe, including 160 in the Asia-Pacific. In Singapore, it operates the InterContinental Hotel Singapore in Bugis, Holiday Inn Parkview in Cavenagh Road and Holiday Inn Atrium in Outram Road.

A fourth - Crowne Plaza Changi Airport Hotel - will open its doors in early 2008.

Mr South outlined his group's local strategy following the Government's recent decision to make available eight new sites that can be used to build hotels.

That is the largest number of hotel sites ever put up on the land release programme at one go - a move prompted by the aim to double visitor arrivals here to 17 million by 2015. Singapore has about 37,000 hotel rooms, but could see a further 10,000 rooms in four to six years, industry sources have said.

IHG said it would be keen to operate hotels built on the new sites. But as the group now manages properties and no longer acquires them, it will have to work with developers and other property investors if it wants to increase its presence here.

IHG is expanding at a time when room and occupancy rates are rising on the back of healthier economic growth in Asia.

Visitors from places such as China, India, Malaysia and Indonesia are likely to continue to outpace arrivals from long-haul markets, said Mr David Ling, the managing director of hospitality consultants HVS International. And a significant number of these regional visitors will look for accommodation in the mid-tier category, he added.

IHG's Express by Holiday Inn brand is thus ideal for Singapore, given the lack of mid-tier branded hotels, he added. Occupancy rates for mid-tier hotels reached 86 per cent last year, compared with 78 per cent for upper-tier hotels.

Express targets both budget business and leisure travellers, pitching itself between budget brands and four-star hotels. It offers complimentary breakfast, broadband Internet access and rooms equipped with a work desk and safe.

Having started only in 1991, the Express brand now boasts 1,604 hotels worldwide, including four in the Asia-Pacific.

A key concern for IHG, however, is whether visitor arrivals will grow fast enough to absorb the room supply. 'Everybody wants to see the industry grow. But the pace at which it grows is important because the worst thing that could happen is that a whole lot of hotels will open at the same time, in advance of a whole lot of demand,' said Mr South.

This could weigh down room rates, he added.

Some in the industry have voiced the same concern and have pointed out that local five-star hotel rates remain comparatively lower than those in cities such as Hong Kong and Tokyo.

But with Singapore's tourism goals in place, this worry has not deterred hotel operators from making their own ambitious plans.

Operators such as Accor and the Park Hotel Group have also said they are keen to expand here.

'The hotel market will be more diversified, providing a wider spectrum of products and brands ranging from those at the budget end to luxury ones and boutique developments,' said Mr Ling.

Copyright © 2006 Singapore Press Holdings. All rights reserved.
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Old August 21st, 2006, 01:50 PM   #9
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Business Times - 21 Aug 2006

Jones Lang LaSalle allays fears of S'pore hotel room glut

SINGAPORE - The construction of two integrated resorts and more hotels in the next five to 10 years is not expected to result in a supply glut in Singapore, an industry research and consultancy firm said on Monday.

Jones Lang LaSalle Hotels said there will be enough tourists by that time to fill the additional new hotels rooms as the Singapore Tourism Board is aiming to double travel arrivals to 17 million by 2015.

A total of 8.94 million tourists visited Singapore in 2005. In the first six months of that year, room occupancy level was at 82.5 per cent, rising to 83.7 per cent in the first half of 2006.

Chee Hok Yean, executive vice-president of Jones Lang LaSalle Hotels, said an estimated 9,830 rooms would be added to the industry up to 2010.

'Imagine that tourist arrivals double to 17 million in 2015 as targetted... we will need another 20,000 rooms to meet this massive influx,' she said in a statement.

Singapore's first integrated resort on downtown Marina Bay is scheduled to open in 2009, followed by a second one on Sentosa Island.

Las Vegas Sands has won the bid to build the Marina Bay casino, while the builder of the Sentosa project will be known later this year.

Apart from casinos, the integrated resorts will also include restaurants, convention facilities, retail shops and hotels.

Jones Lang LaSalle Hotels also painted an upbeat picture of the Singapore hotel industry for the final six months of the year.

It said an estimated $500 million (US$316.46 million) worth of transactions are expected to materialise during the period.

Excluding portfolio sales, total transaction activity in the hotel industry for the first half of 2006 totalled more than US$220 million.

This included the sale of Hotel Negara Ltd to United Overseas Land and Capitaland's sale of its 44.6 per cent stake in InterContinental Hotel Singapore to Pacific Coast Assets. -- AFP

Copyright © 2005 Singapore Press Holdings Ltd. All rights reserved.
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Old August 22nd, 2006, 03:25 PM   #10
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Chinatown hotel site attracts 7 bids, top bid at S$55.5m
By Loh Kim Chin, Channel NewsAsia | Posted: 22 August 2006

SINGAPORE : The Urban Redevelopment Authority has received a top bid of $55.5 million for the hotel site at Clemenceau Avenue and Unity Street.

That is more than double the S$25 million minimum bid price and it translates into slightly more than S$5,000 per square metre of gross floor area.

There were a total of seven bids.

The top bid came from ParkSing Property, a unit of Hong Kong's Park Hotel Group which bought over Crown Hotel along Orchard Road last year.

The 4,000 square metre leasehold site has a permissible gross floor area of 11,000 square metres.

The developer will be able to build up to four storeys at the area fronting the Singapore River.

The rest of the development has a maximum height of 10 storeys.

- CNA /ls
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Old August 23rd, 2006, 12:02 AM   #11
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This story was printed from TODAYonline

Singapore River site gets $55.5m top bid

Wednesday • August 23, 2006

A top bid of $55.5 million has been received for a hotel site along the Singapore River, more than double the $25-million minimum price set by the Urban Redevelopment Authority (URA).

The 0.39-hectare site at the junction of Clemenceau Avenue and Unity Street, which is near the entertainment precinct that comprises Clarke Quay and Robertson Quay, has a maximum permissible gross floor area of about 11,056 square metres. The top bid was submitted by Parksing Property, which is a unit of Hong Kong's Park Hotel Group, whose owners founded the Bossini fashion chain.

Park Hotel Group made its entry into Singapore last year with the purchase of the 311-room Crown Hotel along Orchard Road for an undisclosed amount.

The URA received a total of seven bids for the hotel site. According to the authority, the developer of the 99-year leasehold Clemenceau Avenue/Unity Street site can build a hotel of up to four storeys on the area fronting the Singapore River.

The rest of the development has a maximum height of 10 storeys. Singapore hopes to double tourist arrivals to 17 million and triple tourism receipts to $30 billion by 2015, and the Government has been releasing land for hotel development in a bid to boost the city-state's stock of around 30,300 rooms. — Dow Jones

Copyright MediaCorp Press Ltd. All rights reserved.
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Old August 29th, 2006, 04:49 AM   #12
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URA RESERVE SITE AT RACE COURSE ROAD / RANGOON ROAD
FOR WHITE SITE DEVELOPMENT IS NOW OPEN FOR APPLICATION


29 Aug 06

The Urban Redevelopment Authority (URA) today released the detailed sales conditions for a reserve site at Race Course Road / Rangoon Road for white site development. Developers interested in purchasing the site can now apply to URA for it to be put up for tender.


The site at Race Course Road / Rangoon Road is one of the sites on the Reserve List of the Government Land Sales Programme for the second half of 2006 that was announced by the Ministry of National Development on 15 June 2006.


Land Parcel at Race Course Road / Rangoon Road


The land parcel, which is located directly above the Farrer Park MRT Station, has a site area of about 1.36 ha and a gross plot ratio of 4.2. The site is zoned “White” with a minimum 40% of the maximum permissible gross floor area (GFA) to be allocated for hotel use. The developer can choose to develop the remaining GFA for residential, serviced apartment, retail and other commercial uses. The site can generate a maximum permissible gross floor area of about 57,225 sqm. Details of the land parcel and location plan are given in Annex A-1 & A-2.


The land parcel is located near the Historic District of Little India which is a location popular with tourists and locals. The minimum quantum of hotel use will provide opportunities to meet the demand for hotel accommodation in this area.


Reserve List System


Under the government’s Reserve List system, a site on the Reserve List would only be put up for tender if the developer’s indicated minimum bid price in his application is acceptable to the government.


Details of the land parcel and other sites that are currently available for application on the Reserve List can be found on URA’s website: http://www.ura.gov.sg/sales/sales_main.html.
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Old August 29th, 2006, 10:25 AM   #13
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Wow...another one?? so agressive.....
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Old August 29th, 2006, 01:09 PM   #14
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yes...this site in Little India was amongst the several announced for the 2H2006 GLS programme.

the other sites at Balestier, Tanjong Pagar & Chinatown should be released over the next few months till years end.

Little India is so crowded these days...it could definitely do with another big hotel there.
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Old September 2nd, 2006, 06:09 PM   #15
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Saw this in a URA's Urban Entertainment Centre website.....

Seems like there are quite a number of land parcel for development near Bugis.....
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Old September 7th, 2006, 01:03 PM   #16
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06 September 2006
More hotel land sites to be put up for sale in next few years: minister
By Matthias Chan, Channel NewsAsia

SINGAPORE : More hotel land sites will be put up for sale over the next few years, according to Minister for National Development Mah Bow Tan.

He was speaking to reporters at the launch of the Gardens by the Bay Masterplan Exhibition on Wednesday.

The move is in line with the government's drive to attract 17 million visitors to Singapore by 2015.

National Development Minister Mah Bow Tan said: "We are ramping up sites for sale for hotel rooms fairly sharply over the next few years. There is a fine balance between overdoing it and undersupply.

"When we put more land onto the reserve list, it's up to the developers to read the market and decide whether or not they want to trigger it, so we don't run the risk of oversupply. But we also don't want this (to result in a) shortage of hotel rooms."

More than half of the new sites which have been placed under the Government's Land Sales Programme for the second half of this year are set aside for hotel projects.

- CNA /ls
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Old September 8th, 2006, 02:54 AM   #17
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New shopping mall for Bedok at last.....

Sep 8, 2006
Two former cinema sites up for sale

TWO sites that housed the Bedok Cinema building and Changi Cineplex could soon make way for a small shopping mall.

Located near the Bedok MRT station, they are expected to be jointly put up for tender by the end of the month, market sources said.

They said the sites, which have a remaining lease of about 70 years and a combined land area of about 33,078 sq ft, could be sold for about $50 million.

The price includes a development charge, the purchase of state land and a premium to upgrade the lease to a fresh 99 years.

There is a strip of state land dividing the plots and another strip by the side - over 9,000 sq ft in total - that can be bought to boost the size of the combined site.

A commercial development on such a site could be built to a gross floor area of about 120,000 sq ft, or a plot ratio of three.

At that size, a new mall would be roughly equal to the size of Rivervale Mall in Sengkang.

The Bedok town area does not have a multi-storey shopping centre.

The Straits Times understands that Knight Frank will be handling the tender, but it has declined to comment.

A few developers are said to be keen on the sites, including property giant CapitaLand.

Whoever wins the tender may not want to include a movie house in the mall because cinema operators typically pay low rents, market sources said.

After operating for about 20 years, the three-hall Changi Cineplex - which faces New Upper Changi Road - closed in June 2000 because of poor attendances. It is owned by Shaw Organisation.

Cathay Organisation owns the Bedok Cinema next to it, which used to screen Hindi movies from 1996 until early this year. The screenings were moved to Jade Cineplex.

In the past, old cinema buildings have mostly been sold or leased to churches.

JOYCE TEO
Copyright © 2006 Singapore Press Holdings. All rights reserved.
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Old September 11th, 2006, 05:30 PM   #18
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Looks like hotel sites at the Sg River area are popular...this one is next to Gallery Hotel.

URA to put up hotel site at Mohamed Sultan Road for tender

11 Sep 06

SINGAPORE : The Urban Redevelopment Authority is putting up a hotel site at Mohamed Sultan Road for tender in two weeks.

The move comes after it received an application from a developer to bid a minimum S$26 million for the site.

The 99-year leasehold land parcel sits on 2,900 sq metres and has a gross plot ratio of 2.8.

It can generate a maximum gross floor area of about 8,210 sq metres and a maximum height of 10 storeys.

Another nearby hotel site at Clemenceau Avenue and Unity Street was awarded to Parksing Property last month after it put in the top bid of S$55.5 million.

The winning bid was more than double the original S$25 million bid that triggered the tender of the site.

The government is putting up more hotel sites for sale - in line with the government's drive to attract 17 million visitors to Singapore by 2015. - CNA

By Loh Kim Chin, Channel NewsAsia
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Old September 12th, 2006, 06:24 AM   #19
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New mall in Tampines to be completed in late 2008

12 Sep 06



COME Christmas 2008, residents in the Tampines area will have a new mall to visit.
The fund which bought the two sites currently housing DBS Tampines Centre and the adjacent Pavilion will spend a total of $450 million to build a swanky mall there.

The price includes the nearly $289 million that Asian Retail Mall Fund II, which is managed by Pramerica Real Estate Investors, paid for the sites earlier this year.

The mall's manager, AsiaMalls Management, hopes it will be a new architectural landmark for Tampines, an area already served by two busy malls, Tampines Mall and Century Square.

The yet unnamed new mall, which will have five storeys and one basement level, has a net lettable area of 270,000 sq ft and 240 car park lots.

This makes it smaller than Tampines Mall, which has a net lettable area of nearly 322,000 sq ft, but bigger than Century Square, with a net lettable area of 210,000 sq ft.

The proposed mall will have specialty anchor stores of about 15,000 sq ft to 20,000 sq ft, said AsiaMalls assistant general manager Stephanie Ho.

About 120 shops will be built, including a gourmet supermarket, a fitness centre, a cluster of double- storey food and beverage stores and retail shops.

To differentiate the new mall's food court from those at the other two malls, up to 15,000 sq ft on the third floor will be set aside for an upscale food court featuring open kitchens.

As the mall is positioned around the 'young, savvy and lover of all new things' theme, shops will have to come up with new products or services every five to six months, said Ms Ho.

'This new site and Tampines Mall are very well-located as they are next to the MRT station. If the new mall is well-positioned, it could fetch rentals of $11 to $13 per sq ft,' said Mr Danny Yeo of property consultancy Knight Frank.

The heat could then be on Century Square as it is smaller and located a bit farther from the MRT station than the two malls, he said.

Century Square is also managed by AsiaMalls and owned by Asian Retail Mall Fund.

Existing tenants of DBS Tampines Centre and Pavillion will move out by end-November because construction is due to start in the first quarter of next year.

By Joyce Teo, Property Correspondent
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Old September 12th, 2006, 12:23 PM   #20
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OMG...That means Tampines has 802,000 sq ft of retail space in 2008...
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