Published April 11, 2007

More prime sites available now


INVESTORS can look forward to more prime sites being released now that the development of Marina Bay has been 'accelerated', National Development Minister Mah Bow Tan said yesterday.

'Development of the Marina Bay area has accelerated with the sale of sites integral to that project,' Mr Mah said.

This includes Marina Bay Sands, Marina Bay Financial Centre and the Collyer Quay hotel and commercial development.

He added: 'With prime and strategic sites being made available now and in the near future, we look forward to increased participation from local and foreign investors.'

Mr Mah was speaking at the inaugural Cityscape Asia exhibition and conference which is expecting the attendance of 5,000 delegates and participants from Australia, Malaysia, India, Thailand, Vietnam, Indonesia, China and the Middle East.

Explaining why it was a 'good time' to invest in Singapore, Mr Mah said: 'We have restructured our economy to ride the wave of globalisation.'

Apart from highlighting Singapore's efforts to develop key industries and invest in R&D, he also pointed out infrastructural improvements, including the $40 million Orchard Road revamp.

Also speaking at Cityscape Asia was Urban Redevelopment Authority CEO Cheong Koon Hean who added that it has identified other sites in the Marina Bay area for office and residential development and will release them over time to meet demand.

Click here to read the full text of Mr Mah Bow Tan's speech