Daily Archives: 15 Oct 2009

Marina Bay Sands IR targets high-end customers

Posted on 15 Oct 2009 | Comments Off on Marina Bay Sands IR targets high-end customers

The upcoming Marina Bay Sands integrated resort (IR) in Singapore is targeting customers with high spending power.

It is promising a waterfront shopping experience, with brands in the upper-middle to high end.

“With integrated resorts, you normally get all sorts of different market segments – the MICE, leisure, gaming customers, and they vary from segment to segment. But we aim at attracting high-spending customers. And that’s why the product is pitched the way it is – more at the upper end,” said David Sylvester, VP of Retail Asia, Sands Retail Asia.

Some new names that Marina Bay Sands will bring in to Singapore include Italian apparel brand Henry Cotton’s, and Paul and Shark.

And to match the shopping experience, the integrated resort will also have restaurants featuring famous celebrity chefs.

Marina Bay Sands said it has been able to attract the top names, despite the current global recession. Continue reading →

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Posted in Property Market / Real Estate

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DTZ expects office rentals to return to positive growth in 2010

Posted on 15 Oct 2009 | Comments Off on DTZ expects office rentals to return to positive growth in 2010

Property consultancy DTZ has upgraded its outlook for the office property sector.

It now expects office rentals to return to positive growth next year as the improving economic outlook feeds through.

But it said the outlook for 2009 remains firmly negative.

Year to date, office rentals throughout Asia Pacific have fallen by an average of over 10 per cent.

DTZ said the latest quarter on quarter growth was down around 2.5 per cent.

It expects the end of this year to be the bottom of the market as most cities are expecting to see yields stabilise in 2010.

The property consultancy said it doesn’t expect to see significant growth in Singapore’s office sector until 2011.

But it said growth may occur earlier if the positive sentiment amongst domestic and multinational occupiers persists.

Source : Channel NewsAsia – 15 Oct 2009

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Posted in Office / Retail / Industrial

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