Waterfront living needs a splash - from regattas
By Vincent Wee Business Times Singapore 30 Dec 06
As the yachts taking part in the renowned Sydney-Hobart Yacht Race stream into Hobart this week, perhaps it is time to ask if Singapore itself needs an iconic yacht race.
Savvy real estate developers have made use of the niche audience at regattas to sell their very exclusive waterfront properties. For example, in Thailand publicly listed property company Raimon Land sponsors not only Phuket's well-known King's Cup Regatta but also many other regattas around the kingdom - all at locations where it seeks to sell prime waterfront property, of course.
And in Terengganu, the Monsoon Cup - part of the Swedish Match World Match Racing Tour with a RM1 million (S$434,550) prize purse - is being used to promote new property development there. Action movie superstar Jackie Chan has reportedly expressed interest in purchasing a house there.
The question now is whether there is an existing local regatta that would be able to fit the bill. Unfortunately, all the present regattas go nowhere near any of the prime waterfront homes being developed on Singapore's southern coast.
The obvious solution would be for one of the developers tied to the marinas in the waterfront developments to step up to the plate with an iconic waterside event. It remains to be seen if they will do so and put some money into making their advertisements more like reality.