| | | |  | | | HONG KONG : Singapore's national urban planner has
| | | | | | | HONG KONG : Singapore's national urban planner has gone on a major international drive to promote the island as a dynamic global city.
This supports renewed calls by the island's government to welcome foreign talent in order to stimulate economic activity and bolster population growth.
Singapore's skyline in the near future with Marina Bay transformed into a modern showcase of residential, commercial and integrated resort developments - this sneak preview is part of Singapore's drive to promote the island as a choice place to 'live, work and play'.
"We need to tell people about these plans, because for us to attract investment and talent, it's important for people to know the types of plans that we have and the exciting urban transformation projects that will be taking place in Singapore," says Cheong Koon Hean, CEO of Urban Redevelopment Authority (URA).
Visitors to a three-day exhibition in Hong Kong are told the Singapore government has committed US$1.3 billion towards developing the Marina Bay area alone.
And an increasing number of developers and property investors are interested in Singapore for investment opportunities.
Aside from enhancing the island's physical landscape to attract foreign talents, another strong pull for expatriates is the robust economy, which has prompted many global businesses to set up shop in Singapore in the last few years.
"If you back up right after SARS, around early 2003 to mid 2003, typical foreign housing such as flats and apartments were vacant, especially the ones at the high end. Today, they're all occupied," says Phillip Overmyer, executive director of Singapore International Chamber of Commerce.
Rents have made a double-digit rebound since the market bottomed out two years ago, but it'll take a while before they resume the peak levels of year 2000.
- CNA /ls |
