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RWS Waterfront development “set to commence in late 2024”

March 27, 2024 Singapore Casino & HotelIndustry Updates

Announcing the company’s investments in Resorts World Sentosa (RWS), Singapore’s casino resort, the CEO of Genting Singapore Ltd. expressed delight and said that it represented a “incredible opportunity” to enhance customer experiences and accelerate growth.

In his capacity as executive chairman, Lim Kok Thay stressed the company’s commitment to investing SGD6.80 billion (US$5.05 billion) in modernizing and developing Resorts World Sentosa in his article for the company’s annual report.

Over the following eight years, this investment will pay for both current expenses and future investments. It is an extension of an earlier SGD4.5 billion investment made to the officials of the city-state for the “RWS 2.0” plan.

According to Mr. Lim, the renovation plans include the construction of a new “Waterfront development,” which is scheduled to start in late 2024 after first permission from the local government.

With the help of the multinational firm Benoy, the Waterfront property is expected to include approximately 700 hotel rooms and biophilic architecture.

The proposed waterfront development’s ideas were made public earlier this year, according to Genting Singapore, and comments were requested by the second quarter of 2024.

The chairman reported positive progress on ongoing projects at Resorts World Sentosa, such as the Singapore Oceanarium and Minion Land at Universal Studios Singapore. Early in 2025 is when the Singapore Oceanarium is anticipated to be finished.

Commencing construction in May of the previous year, the refurbished Forum retail complex is scheduled to open in the first quarter of 2025. It is anticipated that the gross floor area of the Forum would more than treble across three stories to about 20,000 square meters (215,278 square feet).

As part of Resorts World Sentosa’s expansion plans, the Hard Rock hotel moniker was recently removed from the site, which will undergo a comprehensive renovation.

For the whole year 2023, Genting Singapore reported a net profit of almost SGD611.6 million, with revenue rising 40.1 percent year over year to little about SGD2.42 billion.

Original story by: GGRAsia

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