YTL Corp Bhd has won a bid to build 15 resort residences under The Lakefront Collection in Sentosa Cove, located on Singapore’s Sentosa Island. YTL managing director Tan Sri Francis Yeoh said “YTL will be scouting for more opportunities in property development and the possibility of building a Starhill Gallery in Singapore.”
YTL, which owns 21% in Jurong Cement Ltd, is also interested in the privatisation of power plants in the republic.
“Singapore is a very liberal country where investors are welcomed with open arms. They make it very easy and seamless for foreign investors,” Yeoh said, adding that many rich foreigners, especially from China and India, were snapping up real estate in Singapore.
Meanwhile, Genting Bhd has tied up with Universal Studios of the US to bid for Singapore's second casino-resort on Sentosa.
IJM Properties Sdn Bhd also has development in Sentosa Cove.
Sentosa Cove is part of the Singapore government’s plans to transform Sentosa into an international tourist destination that will see the addition of a casino-resort, including a hotel, a retail centre and theme park.
Will the aggressive promotion and marketing strategy of Singapore govt's drive to attract foreign direct investment have any impact on Johor's economy and on Malaysia's foreign direct investments as a whole? Would Johor Southern Economic Region recently launched by Pak Lah be affected?
Your guess is as good as mine.
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