Goodbye Sentosa

I am quite excited about the Sentosa IR. Who would have thought that Palau Mati will become a world class resort? As much as possible, I have tried to look at the presentations done by the IR bidders posted online. But no, I have nothing to do with the selection process, so there is no more information than what is already known to the public.

The Eighth Wonder project looks fantastic on paper with so many wow factors - the Deepak Chopra Spa, the Pele stadium, W Hotel which includes Vera Wang wedding studios, all with fantastic architecture, and not to forget Harry's Island. Kerzner's bid looks a little incongruous - another you either love it or hate it centrepiece that looks like a Lotus leaf or used tissue paper depending on who you asked (another of those Esplanade reaction). Its overall plan does not have a coherent feel to it (robbotanical gardens anyone?). Despite being the favourite, Genting has the most underwhelming bid. Creative juices are clearly lacking. Some of the planned buildings look like Palace of the Golden Horses in Kuala Lumpur, feels a little cheap. Moreover, Universal Studios does sound a tad tired. In a straight fight, I very much doubt Genting's chances.

But this is not a straight fight. Ignoring finance and politics, product differentiation and geography are perhaps the key considerations. We are already going to have an IR downtown with impressive city architecture and facilities catering to one segment of the market. To achieve product differentiation, the Sentosa IR should be different, no? The selection process for the Sentosa IR is therefore not divorced from the Marina Bay decision.

Together, both must cover as much of the potential market as possible and provide the highest joint value proposition. The geography - the sea, the beach and the greenery - of Sentosa also makes it difficult to have these 'wow' architecture without destroying the feel of the place. There is of course also the slight concern that should Genting lose, its Star Cruise could play spoiler and cannibalise the market. It is on these counts that I think Genting is the sensible choice, even though I don't particularly like its plans. Eighth Wonder is an emotional second favourite for me. Kerzner's bid feels too 'neither here nor there' to win.

Anyway, Grace and I are determined to visit Sentosa this December on our home visit. Very soon, it will be unrecognisable.