OPINION: Fire exposes the white elephant in Marina Bay Suites

Singapore Notes, 15 Jan 2014
It took a fire on the 65th floor of the posh Marina Bay Suites to confirm the worst of Colombo's fears. We now know more than 90 percent of the Marina Bay Suites are unoccupied. Only 20 of the 221 units at the 66-storey tower have physical residents, the rest of the 203 sold have phantom owners waiting to "flip" their investment, and cash in the chips as they would at the shared namesake casino. The Indonesian owner of one 53rd floor unit may not wait that long, "I bought an apartment in Singapore because it is very safe and clean here. But now I want to sell." Full story
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