The Singapore Tourism Board (STB) did not receive any proposals for its tender to develop tourism in Jurong Lake district.

The request for proposals was launched on Mar. 15 and closed on Oct. 18, after about seven months.

STB: Geopolitical and economic situation affected response

In response to Mothership's queries, STB's director for attractions, entertainment and tourism concept development, Ashlynn Loo, said:

"We understand from stakeholders that the geopolitical and the uncertain economic environment in the earlier part of the year affected the response to the request for proposals."

Loo added that STB remains confident in the potential of the site however, given the "strong" recovery in tourism demand.

She further noted that the site is adjacent to both the new Science Centre and Jurong Lake gardens, and shares a 300-metre long frontage with Jurong Lake.

In addition, STB will continue to examine various possibilities for tourism development and study sentiments in the market, she said.

Experts suggest lack of Chinese tourists and strength of S$ as reasons for lack of proposals

The head of real estate services at KPMG, Tay Hong Beng, told The Straits Times that tourists from mainland China made up a sizeable proportion of visitors to Singapore prior to the pandemic.

The lack of proposals could therefore be due to uncertainty over when China will relax its restrictions.

The economic outlook also remains poor in the short term, even though Singapore's tourism is expected to recover well into 2023, he added.

However, the site remains suitable for tourism development due to its connectivity, he clarified.

Meanwhile, the managing partner of tourism and destination consulting practice Syntegrate, Kevin Cheong, was quoted as saying that developers might have been put off by uncertainties in the tourism industry between now and mid-2028, which is when STB expects the tourism development of Jurong Lake District to be completed.

Cheong cited global inflation and the strength of the Singapore dollar as potential factors in making Singapore more expensive for travellers relative to neighbouring countries.

Scheduled to be Singapore's largest business district outside of the CBD

First announced in 2019, the Jurong Lake District was slated to become Singapore's largest business district outside of the CBD.

The total size of the land is 67,596 square metres.

STB expects the tourism development to include "high-quality accommodation as well as a mix of attractions, retail, F&B and entertainment offerings".

The development should have an emphasis on technology, "edutainment" and sustainability, the press release stated.

It should also complement existing nearby attractions such as the Jurong Lake Gardens and the new Science Centre.

During the launch, STB chief executive, Keith Tan, said that the request for proposals signals Singapore's intent to press ahead with medium-term plans so that they can build better for the future.

Under the Modified Concept and Price Revenue Tender approach, investors are required to submit their concept proposals and tender prices separately.

The tender will be open for seven months, and the closing date for the submission of proposals is Oct. 18, 2022.

Upon the tender award, the entire site will be leased to the successful developer for 60 years.

Transformation of the Jurong Lake District

According to STB, the 410 hectares Jurong Lake District will be the focus of new development in the next two decades, with the government prioritising the sale of sites within the district.

More than 120 hectares of land will be available for development over the next 30 years.

By 2040 to 2050, Jurong Lake District is expected to have 100,000 new jobs and 20,000 new homes.

As Jurong Lake District draws more business and residents to locate here, strong demand for high-quality leisure activities and short-term accommodation is expected, STB explained.

Top photo via STB