Genting International and
Star Cruises Wins the Bid for the Integrated Resort on
Sentosa
Singapore,
8 December 2006 – Infinity@The Bay Pte Ltd, Joint
Venture Company between Genting International and Star
Cruises has been awarded the project to develop the
Integrated Resort (IR) on Sentosa.
This was announced today by
the Government’s Tender Approving Authority or TAA, chaired
by Deputy Prime Minister Professor S Jayakumar. At a press
conference Prof Jayakumar said, “All 3 bidders submitted
high-quality proposals which strongly reflected their
commitment in developing a world-class integrated resort at
Sentosa.” He added “Genting International & Star Cruises
submitted the most compelling proposal overall that best
meets our economic and tourism objectives. In particular,
the proposal reflects our vision for the Sentosa IR as a
large-scale, family resort with its host of world-class
family leisure attractions and other strong offerings.”
The Tender
Approving Authority also comprises Mr Mah Bow Tan, Minister
for National Development; Mr Lim Hng Kiang, Minister for
Trade and Industry; Mr Tharman Shanmugaratnam, Minister for
Education and Second Minister for Finance; Mr Raymond Lim,
Minister for Transport and Second Minister for Foreign
Affairs; Dr Vivian Balakrishnan, Minister for Community
Development, Youth and Sports and Second Minister for
Information, Communications and the Arts; and Mr S. Iswaran,
Minister of State for Trade and Industry.
Successful Request For Proposal (RFP) Process
The RFP for
the IR on Sentosa was launched on 28 April 2006 and closed
on 10 October 2006. Three proposers responded to the RFP
namely; Infinity@The Bay Pte Ltd, a Joint Venture Company
between Genting International & Star Cruises (“Genting”),
Kerzner CapitaLand Integrated Resorts Pte Ltd and Eighth
Wonder Pte Ltd.
Each of the
three proposers committed to invest between S$5.2 billion to
S$5.5 billion in an iconic development that would generate
substantial economic benefits for Singapore. This reflects
Singapore’s buoyant investment climate and the strong
potential that international investors see in its tourism
sector. All the proposals offered an excellent range of
tourism products, ranging from family leisure attractions to
a wide variety of hotels and other entertainment options.
The proposals also all met the stringent social safeguards
set by the Singapore Government for the casino component.
Rigorous
Evaluation Process
The evaluation of the proposals was based on the following
four main criteria, with approximate weights as shown:
a. Tourism appeal and contribution (45%);
b. Architectural concept and design (25%);
c. Development investment (20%); and
d. Strength of consortium and partners (10%).
The proposals
were assessed using the Analytic Hierarchy Process. It is a
methodology that provides discipline and objectivity,
ensuring that the final outcome is based on an evaluation of
both the qualitative and quantitative factors.
The
evaluation process was conducted systematically. All three
proposers had the opportunity to present their proposals to
the TAA shortly after the close of the RFP, and later
separately to the Tender Evaluation Committee (TEC) chaired
by Mr Lim Siong Guan, Chairman, Economic Development Board,
which conducted the detailed evaluation of the proposals.
The TAA also considered the views of a Design Evaluation
Panel comprising established local and international
architects and planners, and professionals with experience
in planning and developing major tourism attractions. The
views of other international and local experts in areas such
as tourism attractions, and financial models were also
considered by the TAA.
Following the
rigorous evaluation process, the TAA assessed that
Infinity@The Bay Pte Ltd, Joint Venture Company between
Genting International PLC and Star Cruises had submitted the
best proposal overall – Resorts World at Sentosa.
Best
Overall Proposal : Resorts World at Sentosa
Tourism
Appeal and Contribution
Genting proposed an excellent IR development that will
strengthen Singapore’s overall appeal to visitors,
positioning Sentosa and Singapore firmly as a top-of-mind,
fun and exciting family destination. Leveraging on Genting’s
expertise and established track record in gaming and resort
operations, the proposal integrates a range of resort
accommodation, Meetings & Incentives (M&I), F&B, retail and
entertainment attractions, and a host of world-class family
leisure experiences. Universal Studios will have its largest
theme park in Asia at Resorts World at Sentosa, offering 22
attractions within seven themed worlds, of which 16 will be
specially designed for Singapore. Key highlights include
the all-new “Journey to Madagascar” attraction and the
Dreamworks Digital Animation Studios which will showcase the
cutting edge of movie-making and real-time animation.
Resorts World
at Sentosa will also offer other family entertainment
experiences such as Quest Marine Life Park with the largest
single marine tank in the world and interactive dolphin
habitat, operated by the world-renowned Dolphin Quest. Other
attractions include the Equarius Water Park which offers
customised water-rides, and a Maritime Xperiential Museum.
There will
also be entertainment along the retail, dining and
entertainment precinct of FestiveWalk, three public
amphitheatres which will feature regular performances
including the Crane Ballet spectacular, as well as ESPA, a
premiere spa resort. Resorts World at Sentosa will also
feature a resident show – ‘Le Vie’ which is put together by
members from the same creative team behind the Cirque du
Soleil blockbusters such as ‘KA’ and ‘O’ in Las Vegas. There
will be a total of six hotels offering 1,830 rooms including
a first-in-the-world hotel - Hotel Michael - designed by
award-winning architect, Michael Graves. (Please refer to
the attached fact sheet for more details.)
Architectural Concept and Design
The overall composition of buildings, form and massing
responds well to the existing fabric of Sentosa. The
architecture is human scale with a village-like festive
ambience. The site is well laid out, providing visitors
with a clear visual orientation to key attractions and
facilities.
The extensive
use of water, landscaping and the choice of materials (such
as stone and wood) reflect the tropical resort feel of the
island. Most of the major attractions are also designed with
canopies, covered walkways and landscaped features to
enhance visitors' experience in all-weather condition. There
is attractive night lighting to highlight the architectural
features of the individual buildings and character of
different zones.
Track
Record
Genting International has a strong track record in
developing leisure resorts in various overseas locations,
including Malaysia and Australia. Star Cruises with its
modern fleet of ships is one of Asia’s leading cruise lines
and the third largest cruise operator in the world.
Together, the consortium has over 40 years of experience in
developing and operating hotels, resorts, attractions,
entertainment and cruise lines. The consortium has a global
distribution network of more than 35 offices in 17
countries.
Economic Benefits
Genting committed to a development investment of S$3.85
billion. Together with the land price and other associated
capital costs, the total investment by Genting is S$5.2
billion. Genting is expected to generate about $2.7 billion
(or approximately 0.8%) to Singapore’s annual Gross Domestic
Product and about 30,000 jobs throughout the economy by
2015.
Record of
Appreciation
The Singapore Government would like to thank all the three
proposers for the tremendous efforts and resources that they
have put into the RFP.
