The announcement of the transformation of Greater Southern Waterfront by our Prime Minister Lee Hsien Loong during the National Day Rally could not be more timely. He gave a synopsis of what is going to happen to the Keppel Club and later on in the area. With the size of six Marina Bay (2,000 hectares), this will be the key jewel for Singapore’s transformation of the Southern Coast and will intensify the connectivity of the island between the East and the West. Our Central Business District (CBD) at the Marina Bay will be extended, attracting more multi-national corporations (MNCs) to Singapore. There will be more residential developments with people living in the area to be closer to their work place. Drawing past experience from the Marina Bay which has grown exponentially from 2006, Avenue South Residence is also poised for the position. Aspiring owners of Avenue South Residence will be able to see the transformation of the Greater Southern Waterfront right in front of their eyes and stand to benefit on its locality merit.
Benefitting from the expansion of Integrated Resorts
The two Integrated Resorts (IRs) have committed S$9 billion combined to extend their gaming licenses to 2030. Resort World Sentosa (RWS) will be adding more than 164,000 square metres (about half of their current GFA) with a new waterfront lifestyle complex housing 2 hotels, retail spaces and eateries. There will be two more theme parks in addition to the Universal Studio Singapore. All these will start operating from 2020 and will be fully expanded by 2025. Marina Bay Sands (MBS) will be adding a 4th tower and boasting another 1,000 rooms. Currently, the Integrated Resorts have a workforce of about 20,000 employees and will be adding another 5,000.
Immediate Huge Tenant Pool
With the above mentioned attributes and growth stories, aspiring owners of Avenue South Residence can expect a huge and immediate tenant pool upon key collection. Tenants are attracted to new projects and especially one with character and plenty of facilities. Avenue South Residence offers an exciting opportunity for long term investors.
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