D8 | Citylights (42 x4 floors)

[Lotuspocus]

Originally Posted by stingraytan

damn! if my agent had told me about the tour package, i may have gotten a unit too!
was sooooo tempted to buy, and who knows, that 5k holiday may have made the deal.

I got my unit around late 2005, and anyone who bought around that period would have gotten the complimentary tour package. I think the promotion was for a few months only. I also remember that OCBC Cardmembers got a further discount off the selling price then.

[Maverick713]

Dear Sir/Madam,

Thank you for your feedback. We appreciate this opportunity to clarify your concerns.

The new Sports Hub is not just replacing the existing National Stadium. Rather than building “just another stadium”, we have envisioned to create Singapore's premier sports, entertainment and lifestyle hub for everyone and one, which is commercially viable and, acts as our national and global landmark. While it will boast world-class sports facilities for sports professionals, it will also offer a wide range of fun and exciting sports and recreation activities for everyone – from elite athletes, sports enthusiasts, communities, families and tourists. There will be something for everyone.

A unique cluster development of integrated world-class sports facilities within the city, it will play a critical role in accelerating the fusion of sports industry, sports excellence and sports participation and take sports to the next level in Singapore. Located on a 35ha site in Kallang, the Sports Hub is to bring the following desired outcomes.

• Thriving sports & entertainment system where we are able to meet changing market needs positively;
• Key driver in achieving “Sporting Singapore” vision;
• Platform for successful business network, partnerships & collaborations amongst stakeholders;
• Preferred worldwide sports & entertainment destination;
• Successful urban regeneration of Kallang area, well integrated within city;
• Vibrant lifestyle hub with world-class customer service.

The Sports Hub will be the focal point for Singapore's elite athletes and high performance management as well as an ideal location for sports and entertainment events, sports administration, and sports and recreation businesses. It will help to create space for international, regional and local sports federations and associations, sports medicine and sports science service providers, sports related training and education service providers, sports companies' sales and marketing headquarters, and retail outlets.

The commercial opportunities include F&B outlets, restaurants, retail space, cinemas, etc. While these support the international events and activities that will be taking place in the Sports Hub, they will also ensure the Sports Hub can be a buzz of activity even on non-event days. Over and above, it can also provide sports-related facilities – such as extreme sports facilities and outdoor sports facilities. Hotel developments are also allowed within the Sports Hub.

As you can see, the Sports Hub will play a big role in ensuring that we keep pace with the upward trend for sports excellence and sports participation among Singaporeans and also help us to reap opportunities from beyond our shores. It is also important to note that sports and leisure has become a popular lifestyle choice.

The Sports Hub is the first and largest sports facilities infrastructure Public-Private-Partnership (PPP) project in the world. It is also Singapore's largest and flagship PPP project of this nature. Under PPP, risks are passed to the PPP Contractor who has to put together a long-term solution (including the design, build, finance and operation) of a facility for government. In essence, a PPP creates a long-term partnership between the government and private sector for the delivery of services. A generally accepted principle is that better value for money may be achieved through the exploitation of private sector competencies and the allocation of risk to the party best able to manage it. Essentially, PPP should deliver better value to the Singapore Government and the taxpayer.

The Sports Hub will strengthen Singapore’s appeal as a premium sports and entertainment events venue in the region. We are optimistic about developing a vibrant events calendar with the PPP contractor. The Singapore Government is fully committed to this project and is looking forward to working with private sector partners to capitalise mutual competencies to its full potential.

Regards.


S. Parameswaran
Manager (Corporate & Marketing Communications)
Communications & Knowledge Group
Singapore Sports Council
DID: 6340-9671
Fax: 6345-2541

[Sango123]

Hi Maverick,

Thanks for the letter from SSC. Think this will let most of us (including me) know more about the potential of the Sports Hub on the whole Kallang area. This will spell even better news for all the owners of Citylights, Riverine, Southbank etc...

[dddddd]

Buying properties in China is easy, but when you sell, i think you cannot take the money out due to currency control.

[nav14]

Originally Posted by Maverick713

Dear Sir/Madam,

Thank you for your feedback. We appreciate this opportunity to clarify your concerns.

The new Sports Hub is not just replacing the existing National Stadium. Rather than building “just another stadium”, we have envisioned to create Singapore's premier sports, entertainment and lifestyle hub for everyone and one, which is commercially viable and, acts as our national and global landmark. While it will boast world-class sports facilities for sports professionals, it will also offer a wide range of fun and exciting sports and recreation activities for everyone – from elite athletes, sports enthusiasts, communities, families and tourists. There will be something for everyone.

A unique cluster development of integrated world-class sports facilities within the city, it will play a critical role in accelerating the fusion of sports industry, sports excellence and sports participation and take sports to the next level in Singapore. Located on a 35ha site in Kallang, the Sports Hub is to bring the following desired outcomes.

• Thriving sports & entertainment system where we are able to meet changing market needs positively;
• Key driver in achieving “Sporting Singapore” vision;
• Platform for successful business network, partnerships & collaborations amongst stakeholders;
• Preferred worldwide sports & entertainment destination;
• Successful urban regeneration of Kallang area, well integrated within city;
• Vibrant lifestyle hub with world-class customer service.

The Sports Hub will be the focal point for Singapore's elite athletes and high performance management as well as an ideal location for sports and entertainment events, sports administration, and sports and recreation businesses. It will help to create space for international, regional and local sports federations and associations, sports medicine and sports science service providers, sports related training and education service providers, sports companies' sales and marketing headquarters, and retail outlets.

The commercial opportunities include F&B outlets, restaurants, retail space, cinemas, etc. While these support the international events and activities that will be taking place in the Sports Hub, they will also ensure the Sports Hub can be a buzz of activity even on non-event days. Over and above, it can also provide sports-related facilities – such as extreme sports facilities and outdoor sports facilities. Hotel developments are also allowed within the Sports Hub.

As you can see, the Sports Hub will play a big role in ensuring that we keep pace with the upward trend for sports excellence and sports participation among Singaporeans and also help us to reap opportunities from beyond our shores. It is also important to note that sports and leisure has become a popular lifestyle choice.

The Sports Hub is the first and largest sports facilities infrastructure Public-Private-Partnership (PPP) project in the world. It is also Singapore's largest and flagship PPP project of this nature. Under PPP, risks are passed to the PPP Contractor who has to put together a long-term solution (including the design, build, finance and operation) of a facility for government. In essence, a PPP creates a long-term partnership between the government and private sector for the delivery of services. A generally accepted principle is that better value for money may be achieved through the exploitation of private sector competencies and the allocation of risk to the party best able to manage it. Essentially, PPP should deliver better value to the Singapore Government and the taxpayer.

The Sports Hub will strengthen Singapore’s appeal as a premium sports and entertainment events venue in the region. We are optimistic about developing a vibrant events calendar with the PPP contractor. The Singapore Government is fully committed to this project and is looking forward to working with private sector partners to capitalise mutual competencies to its full potential.

Regards.


S. Parameswaran
Manager (Corporate & Marketing Communications)
Communications & Knowledge Group
Singapore Sports Council
DID: 6340-9671
Fax: 6345-2541

A lot of mumbo jumbo there which is typical of govt depts when they announce new initiatives. But nothing that mentions that there will be 10,000 people working arond the stadium?

"It will help to create space for international, regional and local sports federations and associations, sports medicine and sports science service providers, sports related training and education service providers, sports companies' sales and marketing headquarters, and retail outlets"

You think the above will result in equivalent number of people being employed as the Sands IR. Do you really think that all of a sudden all the international sports federations etc will invade Singapore. How many are there really and how many people can they employ?
The mumbe jumbo looks very good on paper but in reality it is going to be nothing more than a fancy colourful looking stadium with office space equivalent to maybe a 15storey office tower,and retail space equivalent to an average sized shopping centre.

If the govt and the analysts were that confident of the Sports Hub making major contributions to the economy like the IRs, they would be making a much bigger deal of it.

[dddddd]

Originally Posted by Maverick713

Dear Sir/Madam,

Thank you for your feedback. We appreciate this opportunity to clarify your concerns.

Good news, thanks maverick.
looks like it is even grander than i expected...

[Maverick713]

Originally Posted by nav14

Since you know so much about the Sports Hub, can you tell me how much space there will be at the new Stadium to promote the "Business of Sports". How many highrise office developments will be built next to the stadium that will house these businesses? Did the govt say that all sport businesses will be housed at the stadium? What kind of sports businesses will operate from the Sports Hub. What percentage of the key businesses linked to Sports will be located at Sports Hub - 100% , 10%?. Or are the sports businesses in Singapore wherever they are located will ask their employees to stay at Kallang Basin condos like Citylights to be near the stadium or lend support to the condos in that area?

The consortium proposals are still underway so no details yet. However, the government has through its Singapore Sports Council website and media releases already laid down its vision for the new Sports Hub to be the leading regional centre for Asia's sports business. 36,000 square metres of space have also been reserved for commercial development such as these. In the briefing to the Sports Hub bidders, the government mentioned about building a sports industry that should contribute $1.4 billion to the economy by 2010.

The government proposed that businesses such international, regional and local sports federations and associations, sports medicine and sports science service providers, sports related training and education service providers, sports companies' sales and marketing headquarters be situated at the coming Sports Hub. Many of these could involve foreign talents or young athletes, and living around Kallang nearby for easy access to the Sports Hub on a daily basis for work and classes would be highly desirable than say, living in Ang Mo Kio or Pasir Ris if they don't drive.

[dddddd]

Originally Posted by nav14

A lot of mumbo jumbo there which is typical of govt depts when they announce new initiatives. But nothing that mentions that there will be 10,000 people working arond the stadium?

"It will help to create space for international, regional and local sports federations and associations, sports medicine and sports science service providers, sports related training and education service providers, sports companies' sales and marketing headquarters, and retail outlets"

You think the above will result in equivalent number of people being employed as the Sands IR. Do you really think that all of a sudden all the international sports federations etc will invade Singapore. How many are there really and how many people can they employ?
The mumbe jumbo looks very good on paper but in reality it is going to be nothing more than a fancy colourful looking stadium with office space equivalent to maybe a 15storey office tower,and retail space equivalent to an average sized shopping centre.

If the govt and the analysts were that confident of the Sports Hub making major contributions to the economy like the IRs, they would be making a much bigger deal of it.

Why are you always so pessimistic and persistent? Got planning, news, marketing, action… and yet you are still sceptical. I believe you will never buy property at all, and only rent.

[nav14]

Originally Posted by dddddd

Why are you always so pessimistic and persistent? Got planning, news, marketing, action… and yet you are still sceptical. I believe you will never buy property at all, and only rent.

I not sceptical lah. I just said that the importance of Sports Hub is overrated for some people who factor this in their decision to buy a condo in Kallang Basin. Then Maverick came along and said its contribution will be as big as the IR. How you expect any person of average intelligence not to dispute this. So even if know such a statement is not true, must keep quiet just to keep people happy? Otherwise accused of being pessimistic and persistent? How can like that?

[dddddd]

true true...
some how, that was the impression.

[Lotuspocus]

Sports Hub or no Sports Hub, I can't wait to move in!

[Sango123]

Originally Posted by Lotuspocus

Sports Hub or no Sports Hub, I can't wait to move in!

This I agreed!!!. I stay in North almost all my life, time to change.

Sorry just curious how much did you pay psf back in 2005?

[Lotuspocus]

Originally Posted by Sango123

This I agreed!!!. I stay in North almost all my life, time to change.

Sorry just curious how much did you pay psf back in 2005?

Approximately 680psf. Still can't get over the fact that I didn't get an additional unit back then.

[Maverick713]

Originally Posted by nav14

I not sceptical lah. I just said that the importance of Sports Hub is overrated for some people who factor this in their decision to buy a condo in Kallang Basin. Then Maverick came along and said its contribution will be as big as the IR. How you expect any person of average intelligence not to dispute this.

I am not bluffing you but for both the IRs and the Sports Hub the government gave very similar revenue estimates during the bidding introductions to the consortiums:

1) Sports Hub Tender Briefings :- "develop a Sports Hub ....double industry contributions to the economy by 2010 to $1.4 billion" - July 2006

http://www.ssc.gov.sg/publish/etc/me...n_27_July_2006[1].ppt

2) IR Request-For-Proposals :- "...the IRs will boost Singapore’s attractiveness as a tourist destination and generate significant economic benefits. It is estimated that the two IRs will increase annual Gross Domestic Product (GDP) by S$1.5 billion and create a total of 35,000 jobs throughout the economy." - November 2005

http://app.stb.com.sg/asp/new/new03a.asp?id=4183

OK.... granted the estimated $1.5 billion contribution to the GDP by the 2 IRs (not 1 but 2) could be $0.1 billion more than the total Sports Hub's estimated $1.4 billion contribution to the economy, both the government's estimates are still very close, isn't it?

Does this not tell you the government is thinking that the Sports Hub's potential economic revenue is nearly equal to an IR and so it is not simply a 'colourful structure to see fireworks once a year on National Day'?

[tyche]

Originally Posted by Maverick713

1) Sports Hub Tender Briefings :- "develop a Sports Hub ....double industry contributions to the economy by 2010 to $1.4 billion" - July 2006

OK.... granted the estimated $1.5 billion contribution to the GDP by the 2 IRs (not 1 but 2) could be $0.1 billion more than the Sports Hub's estimated $1.4 billion contribution to the economy, the government's figures are still very close, isn't it?

hi maverick,

Correct me if i'm wrong... but the incremental contribution from the sports hub is estimated to be $700mil in 2010, becos the tender briefing says "double industry contributions ... to $1.4bil" with completion of the sports hub.

[Maverick713]

Originally Posted by tyche

hi maverick,

Correct me if i'm wrong... but the incremental contribution from the sports hub is estimated to be $700mil in 2010, becos the tender briefing says "double industry contributions ... to $1.4bil" with completion of the sports hub.

You could be right then .... but that's saying it could be equivalent to an IR, assuming each IR contributes equal amount to the GDP (about $750 million) as compared to the Sports Hub's $700 million incremental contribution.

[RafflesCity]

For starters, it will surely be a big boost for construction

[hyacinthus]

Originally Posted by Sam Sung

Is Farrer Court near Farrer Park and CSR?

Do you know where is Farrer Court?

Farrer Court is in D10 whereas Farrer Park and CSR is in D08.

[nav14]

Originally Posted by Maverick713

The consortium proposals are still underway so no details yet. However, the government has through its Singapore Sports Council website and media releases already laid down its vision for the new Sports Hub to be the leading regional centre for Asia's sports business. 36,000 square metres of space have also been reserved for commercial development such as these. In the briefing to the Sports Hub bidders, the government mentioned about building a sports industry that should contribute $1.4 billion to the economy by 2010.

The government proposed that businesses such international, regional and local sports federations and associations, sports medicine and sports science service providers, sports related training and education service providers, sports companies' sales and marketing headquarters be situated at the coming Sports Hub. Many of these could involve foreign talents or young athletes, and living around Kallang nearby for easy access to the Sports Hub on a daily basis for work and classes would be highly desirable than say, living in Ang Mo Kio or Pasir Ris if they don't drive.

36000 sq metres of space cannot accomodate much. It is the size of an average sized 4 -5storey shopping mall. Lets face how many younf athletes can afford anything other than an HDB. How many sports related foreign talents will really be interested in basing themselves in a country which has never been prominent in the sports arena. How much can the foreign talents in the Sports industry command - definitely not enough to get a pay 4-5k rent for a 2 bedroom at Citylights. You will have many more well paid people working in the financial industry who can easily afford and fill up the units at Citylights or Southbank. So forget about the Sports Hub having any significant impact on the rental market in the Kallang Basin area.

[Maverick713]

Originally Posted by hyacinthus

Farrer Court is in D10 whereas Farrer Park and CSR is in D08.

Oh yah ... forgot you live in Farrer Rd area.