Genting Singapore breaks ground on new hotel in Jurong

[oops]

GENTING Singapore on Thursday broke ground on its new 550-room hotel in western Singapore, along Jurong Town Hall Road - PHOTO: GENTING SINGAPOREGENTING Singapore on Thursday broke ground on its new 550-room hotel in western Singapore, along Jurong Town Hall Road.Located at a 9,027 square metres site with a 99 year lease period, the hotel is slated to open in the first half of 2015 in a district earmarked by Singapore's Urban Redevelopment Authority as a new growth area with commercial, business and leisure facilities.The hotel is situated close to the International Business Park cluster of offices, as well as popular shopping malls such as JCube and Jem.Tan Sri Lim Kok Thay, Chairman of the Genting Group and Executive Chairman of Genting Singapore said, "With our hotel being the first to open in this growing precinct, we hope to create another unique hospitality product that will crank up the buzz meter in this already vibrant area to even higher levels. This will be a new landmark in the Jurong Lake District."

[Regulators]

They can get ready to write off big losses liao. If I open a hotel , I will make sure it is far from hdb flats.

[azeoprop]

If they get travel agents to bring their china and india tour groups to stay there at discounted rates, they can make money.

[joelx]

They can get ready to write off big losses liao. If I open a hotel , I will make sure it is far from hdb flats.

Seems like you are smarter than Uncle Lim's Son. Why not you apply for the Genting grp CEO position, then you may salvage their potential losses.

[Regulators]

Do tourists want to live in jurong n travel 1hr to get to marina bay n orchard rd, unless of course they came specially to visit jurong bird park n chinese garden

If they get travel agents to bring their china and india tour groups to stay there at discounted rates, they can make money.

[babyt]

maybe prostitutes can move there to stand.

we have some hotels that are away from city..like

grand mercure roxy, changi village hotel

[azeoprop]

Do tourists want to live in jurong n travel 1hr to get to marina bay n orchard rd, unless of course they came specially to visit jurong bird park n chinese garden

Free and easy tourists won't, but tour groups will as they have no choice to where they will be staying. Usually tour groups do Singapore with Malaysia as well.

E.g. arriving at changi airport in the morning, tour groups will board their tour bus and start the Singapore city tour the whole day. They will check in to this hotel in jurong in the evening. Next morning check out, visit bird park or zoo, then off to 2nd link or causeway for their malaysia portion of the tour such as malacca and kl.

[teddybear]

May be they are planning to develop JLD into the new red light district so that they can clear up Geylang as that piece of land is more prime?

maybe prostitutes can move there to stand.

we have some hotels that are away from city..like

grand mercure roxy, changi village hotel

[Ringo33]

Tan Sri lim has got good foresight and vision for jurong lake district. The seed they planted today is the first baby step towards what will eventually become a mega theme park in the lakeside district.

[mkmm]

They can get ready to write off big losses liao. If I open a hotel , I will make sure it is far from hdb flats.

Same question asked, how changi village make $$$ har? so far away from city.

[felicia_sg]

4 types of very profitable business which he already in 3: eat, drink, gamble, vice. The last one has highest profit margin...

Tan Sri lim has got good foresight and vision for jurong lake district. The seed they planted today is the first baby step towards what will eventually become a mega theme park in the lakeside district.

[jacelynchia]

This Jurong Hotel, the rates must be very very reasonably priced and of some standard or else the plan might fail.

Some tourist may even stay at boutique hotel nearer to town compared to this unless there is other perks

[Regulators]

Yes, China Mei Meis will have new hunting ground in jld

4 types of very profitable business which he already in 3: eat, drink, gamble, vice. The last one has highest profit margin...

[dtrax]

Same question asked, how changi village make $$$ har? so far away from city.

All major cities have hotels near airport. This is especially useful for biz travellers who are just stopping by for just 1 night or tourist 1night stop over. i.e touch down changi airport and straight checkin to hotel at airport. Check-in, put down barang barang then start your day tour/biz conference. Then at night return back hotel and can straight checkout the next mornging and go to airport without rushing the traffic in the morning or peak hrs. I guess the reason why occupancy rates fares[50-60%] so much poorer in hotels near changi compared to av hotel occupancy in the industry[80%] is mainly because our country is so damn efficient and also relatively small land size with better traffic condition as compared to other countries

[Regulators]

They can always go hourly rates if need be n have vip cards for regulars

This Jurong Hotel, the rates must be very very reasonably priced and of some standard or else the plan might fail.

Some tourist may even stay at boutique hotel nearer to town compared to this unless there is other perks

[Allthepies]

I try very hard not to burst out laughing when I read there are forumers here who claimed they have better business acumen and foresight than even Genting Group chairman...

Even if you do, please be humble la...

Ha ha ha ha ha... So funny...

[lajia]

please dont think that you are smart, they are smarter using shareholder money...JLD will happen with your JAW dropped! Dont write things off too early just because you have limited knowledge or you dont like the place. You might be too myopic. When it comes to investment, put emotion aside...

They can always go hourly rates if need be n have vip cards for regulars

[Ringo33]

May be they are planning to develop JLD into the new red light district so that they can clear up Geylang as that piece of land is more prime?

Maybe you are just someone who likes to make negative remarks on neighbor who drives a bigger car than you.

[ysyap]

Do tourists want to live in jurong n travel 1hr to get to marina bay n orchard rd, unless of course they came specially to visit jurong bird park n chinese garden

My personal experience...

RWS has so little rooms available (not talking about big suites that caters to the richer tourists) that it is perpetually full if you don't book like 1 to 2 months ahead. This hotel at Jurong would then cater to those who can't get a room at RWS. Travel time is definitely shorter than coming from overseas.

As long as Jurong hotel is priced reasonably lower than MBS and RWS, it will still attract. Furthermore, Jurong will be developed into a self-contained entertainment arena so it should still appeal to tourists. Genting won't lose $$ de...

[Regulators]

You heard of Tang Village in Jurong? Good business acumen back then??

I try very hard not to burst out laughing when I read there are forumers here who claimed they have better business acumen and foresight than even Genting Group chairman...

Even if you do, please be humble la...

Ha ha ha ha ha... So funny...

[Ringo33]

Welcome to the future.

[Allthepies]

You heard of Tang Village in Jurong? Good business acumen back then??

By Genting ah?

Tat why I said even if u r very good, also be humble la... Give billionaire some face la...

[Regulators]

Put urself into the shoes of a traveller who only has a few precious days in singapore, where would you live, town or jurong?

My personal experience...

RWS has so little rooms available (not talking about big suites that caters to the richer tourists) that it is perpetually full if you don't book like 1 to 2 months ahead. This hotel at Jurong would then cater to those who can't get a room at RWS. Travel time is definitely shorter than coming from overseas.

As long as Jurong hotel is priced reasonably lower than MBS and RWS, it will still attract. Furthermore, Jurong will be developed into a self-contained entertainment arena so it should still appeal to tourists. Genting won't lose $$ de...

[xebay11]

Put urself into the shoes of a traveller who only has a few precious days in singapore, where would you live, town or jurong?

If I was an industrialist coming to meet my industrial partners, it would have to be Jurong, not all travellers are tourist, if you can't think out of the box in property, u won't make big bucks.

[Ringo33]

My personal experience...

RWS has so little rooms available (not talking about big suites that caters to the richer tourists) that it is perpetually full if you don't book like 1 to 2 months ahead. This hotel at Jurong would then cater to those who can't get a room at RWS. Travel time is definitely shorter than coming from overseas.

As long as Jurong hotel is priced reasonably lower than MBS and RWS, it will still attract. Furthermore, Jurong will be developed into a self-contained entertainment arena so it should still appeal to tourists. Genting won't lose $$ de...

The same ministries that are responsible for the 2 IRs and other mega tourist attraction projects are working on JLD together with many other gov ministries. Only fools will bet against it

[teddybear]

Only fools will buy into it at $1600 psf!

The same ministries that are responsible for the 2 IRs and other mega tourist attraction projects are working on JLD together with many other gov ministries. Only fools will bet against it

[Ringo33]

Only fools will buy into it at $1600 psf!

$1600psf for a 500sqft unit is $800,000.
Based on rental of $3500 per month, it will generate 5.25%.


fool? perhaps not.

[xebay11]

The whole JLD is engineered by the government to make money. Before all the idea of JLD was mooted, residential land prices in the West was one of the lowest in Singapore as people did not want to live near factories, so they had large tracts of land with low demand from the residential sector. So they got smart and said "Hey! Commercial and retail sectors won't care about pollution, let's build shopping centres and offices" Voila the concept of JLD, once JLD kicks off like Ringo says, naturally the Government now can sell residential land at overpriced rates....real clever. The Government has been playing this game for decades now. Bishan burial ground, cannot sell..... easy, just relocate RI there and build an MRT and suddenly the land becomes gold. Now they are putting the International Schools all over the most ulu areas they can find to turn the land into gold. Pioneer MRT area also, demand was so low there that the HDB flats could not be sold and were hoarded up, so they built a sports complex and MRT station there and demand just exploded.

[Reisor]

$1600psf for a 500sqft unit is $800,000.
Based on rental of $3500 per month, it will generate 5.25%.


fool? perhaps not.

Although was skeptical about JLD at first but took train down last weekend to have a feel and the buzz is there. Just like business park development in Changi/Paya Lebar, it will be another converging point and with the proj 6.9m popln. At this point, you can only let your numbers do the talking a few years down the road to convinced others.

[Regulators]

u may wish to check how many hotels in town are catering to business associates for jurong industries n what is the frequency?
To be fair, if jurong does hv a theme park like resorts world, the hotels there may see better occupancy, but why would genting want to split up its gains both sides by having another theme park there?

If I was an industrialist coming to meet my industrial partners, it would have to be Jurong, not all travellers are tourist, if you can't think out of the box in property, u won't make big bucks.