SPEECH BY MR LIM HNG KIANG, MINISTER FOR TRADE AND INDUSTRY
GRAND OPENING OF ONE°15 MARINA CLUB
29 SEPTEMBER 2007, 6.30 PM 

It gives me great pleasure to join you this evening for the Grand Opening of ONE Degree 15 Marina Club at Sentosa Cove.This happy occasion caps three years of development to build a world-class marina that is billed Asia’s finest. ONE Degree 15 Marina Club is part of the transformation which Sentosa has undergone in the past few years, to make this island one of the most vibrant and exciting leisure destinations in the region featuring a unique blend of recreational and leisure experiences.

Singapore is a leading sea port in the region, due to its strategic position at the crossroads of the maritime trade between the East and the West.The sea has always played a significant role in our economic growth. It is thus natural that a leisure boating culture would emerge from our maritime history.Coupled with increasing affluence, especially in Asia, there is potential for Singapore to become a hub for international boating, yachting and nautical leisure pursuits in the region.

Development of Sentosa

As Sentosa enters the next chapter of its long-term strategic masterplan to rejuvenate itself, it is poised to become the premier resort destination in Asia. Last year, the island resort welcomed a record 5.7[1] million visitors, a 10% increase from 2005.At the national level, we are on track to achieving 10.2 million visitor arrivals to Singapore for this year.With the upcoming integrated resorts and the F1 Singapore Grand Prix, we will be on track to achieving our Tourism 2015 target of 17 million tourists and S$30 billion in tourism receipts.

A variety of attractions, luxury spas, hotel accommodation, restaurants and championship golf courses are already in place at Sentosa. The next few years will see the resort island enhanced with new hotels, themed F&B offerings and attractions like the first Universal Studios theme park in Southeast Asia and the world’s largest oceanarium, which will be built within the multi-billion dollar Resorts World at Sentosa, Singapore’s second Integrated Resort.

By 2010, we also expect to have some 10,000 residents living in 2,500 waterfront homes in Sentosa Cove, which is fast becoming the region’s most desirable and exclusive address. There is an international mix of residents who are buying and building into Sentosa Cove’s integrated marina residential lifestyle. I believe this trend will persist, as this enclave boasts a marina complete with boating facilities, where home owners can berth their yachts, even mega yachts, in their very own backyards – a first in Singapore.In addition, the upcoming Quayside Isle sitting at the heart of Sentosa Cove will have specialty shops, quaint restaurants, lifestyle and entertainment amenities, all within convenient reach. It is therefore hardly a surprise to see a strong response from both Singaporeans and foreigners for the properties here which have been fetching record prices.

I am confident that this upscale marina and waterfront residential enclave will serve as a magnet to those from around the world who have a passion for premium oceanfront and boating lifestyle.In time, we will see a thriving SentosaIsland complemented by the developments across the cruise bay at the HarbourFront and MountFaber foothills.This unique blend of new and refreshed leisure offerings will enliven and generate greater buzz in the entire southern waterfront precinct, making it a great resort destination to live, work and play.

Official Launch of ONE Degree 15 Marina Club

ONE Degree15 Marina Club at Sentosa Cove opens at a very exciting time of the island’s development. With a world-class marina conveniently located in the heart of Singapore, well within the reach of world-class events and attractions, the reasons for more high-end visitors to come to Singapore will become more and more compelling. Sail to Asia, berth at ONE Degree15, then take your pick of world-class entertainment and wine and dine options. Do all these with the peace of mind knowing that you have the benefit of state-of-the-art facilities and the efficient service and security that Singapore is well-known for.

The ONE Degree15 Marina Club has already become a talking point in many circles, and I understand that as soon as some of the berths at ONE Degree15 were ready, a steady stream of multi-million dollar mega-yachts and luxury vessels passing through Singapore waters were lining up to secure a berth. I understand that membership sales are buoyant, indicating that more Singaporeans are embracing the marina lifestyle.

This is all very encouraging and a sign of better things to come.This evening, I take this opportunity to congratulate Mr Arthur Tay and his team for delivering what we hope is the first of many more premier lifestyle milestones for Singapore!

Congratulations and have a pleasant evening.