Daily Archives: 21 Oct 2009

Sentosa theme park ticket sales put at $315m a year

Posted on 21 Oct 2009 | Comments Off on Sentosa theme park ticket sales put at $315m a year

Universal Studios aims to draw 4.5m visitors; 20 rides to open next year

AT around S$70 per entry to Universal Studios Singapore (USS), Genting Singapore, which invested more than S$1 billion in the theme park could reap around S$315 million a year in ticket sales alone.

Speaking at a news conference yesterday, Douglas Trueblood, general manager (sales & marketing) for Universal Parks and Resorts, said the target is to attract 4.5 million visitors a year to the theme park at Resorts World at Sentosa (RWS), which is owned by Genting Singapore.

Assuming USS sells 4.5 million tickets at S$70 apiece, ticket sales could hit S$315 million.

Mr Trueblood did not reveal ticket prices, but Genting Singapore chairman and CEO Lim Kok Thay has said they will be lower than those at other Universal Studios theme parks.

Earlier estimates by analysts put the entry price at around S$80, compared with about US$70 in the US and 5,800 yen in Japan.

Analysts at Morgan Stanley Research (Asia-Pacific) expect entry prices to USS to be even lower at around S$70. Continue reading →

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Posted in Sentosa Property

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Lincoln Suites launched at average $1,680 psf

Posted on 21 Oct 2009 | Comments Off on Lincoln Suites launched at average $1,680 psf

THE four property developers who jointly bought freehold Lincoln Lodge more than two years ago in a collective sale intend to launch the project tomorrow, they said yesterday.

The developers – Koh Brothers, Heeton Holdings, KSH Holdings and Lian Beng Group – paid $243 million for the District 11 property along Khiang Guan Avenue at the height of the property boom in June 2007. But they put off launching the project as the property market went south soon after.

Now, with the market seemingly staging a recovery, the 175-unit Lincoln Suites will be rolled out, beginning with invited guests tomorrow. The first phase of the launch will see 56 units offered at an average price of $1,680 per square foot (psf).

The consortium paid significantly more than the reserve price of $188 million for the project in 2007 as it was ‘very interested’ in the site. There were several bids for the site.

It was then estimated that the $243 million forked out worked out to $1,449 psf per plot ratio (ppr) including an estimated development charge (DC) of $413,000. Continue reading →

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Posted in Developers, New Launches, Property Price

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