GENTING Singapore’s Resorts World Sentosa (RWS) plans to complete a major expansion by 2030, as it aims to attract more visitors to the integrated resort and pull up falling earnings.
The company broke ground for its S$6.8 billion new waterfront lifestyle development on Friday (Nov 15), kicking off construction for a waterfront promenade, a four-storey retail, entertainment and dining podium of 228,658 square feet, and two new luxury hotels totalling 700 keys.
“This upcoming development project is like no other before it in Singapore or the region and will be a must-visit in the global tourism landscape,” said Tan Hee Teck, chief executive officer of RWS.
The two new hotels will add to RWS’ six hotel properties at the integrated resort – Crockfords Tower, Equarius Hotel, Equarius Villas, Hotel Michael, Hotel Ora and another luxury hotel set to launch in 2025.
Speaking at the groundbreaking event, Minister of State for Trade and Industry Alvin Tan noted that Singapore’s integrated resorts have strengthened the Republic’s position as a leading events and leisure destination.
Tan said: “The new waterfront lifestyle development is a key feature of RWS’ expansion and an exciting new addition to Singapore’s vibrant tourism landscape.”
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The expansion plans have “great potential to create economic benefits, new jobs and opportunities for local businesses”, he said.
The major expansion comes as Genting Singapore works to boost the appeal of RWS, amid the slower recovery of international visitor arrivals to Singapore, increased competition and falling revenue from its gaming business.
Rival integrated resort operator Marina Bay Sands (MBS) is also pumping money into its Singapore operations. A US$1.75 billion refurbishment of its three hotel towers will add 1,850 new hotel rooms. A further US$8 billion expansion with the development of a fourth tower at MBS will start in July 2025, adding 570 hotel rooms, a 15,000-seat entertainment arena and event space.
In its third quarter business update last week, Genting Singapore posted net profit of S$79.4 million for the quarter, down 63 per cent from S$216.3 million in the year-ago period.
Revenue for the period fell 19 per cent to S$561.9 million. Gaming revenue dropped 28 per cent on-year to S$330 million, while non-gaming revenue ticked up 1 per cent to S$231.8 million.
New non-gaming attractions planned for RWS include a Harry Potter interactive art experience launching in November, and a Minion Land theme park in Universal Studios Singapore in the first quarter of 2025.
At the heart of the new waterfront will be an 88-metres tall light sculpture. The development will also include a new mountain trail offering views of Singapore’s Central Business District from the south, as well as the Greater Southern Waterfront.
RWS is also eyeing Building and Construction Authority Green Mark Platinum certification for the project, which is being built by China Metallurgical Group Corporation. RWS has pledged to be carbon-neutral by 2030, and plans to use low carbon concrete for its structures, aiming to reduce embodied carbon by 29,500 tonnes of carbon dioxide equivalent, equivalent to the electricity needed to power more than 15,000 four-room public housing flats for a year.
