Singapore was recently in the news with Donald Trump meeting North Korea’s Kim Jong Un. Many Americans may not have paid much attention to Singapore prior to this, and indeed may not pay much attention after the summit either. But if so, they’re missing out on learning about a place described by Forbes as “full of millionaires.
Singapore is one of Asia’s centers for private banking. And according to a new report from WealthInsight, the overall high net worth individual has risen 51.7% since the recovery from the global financial crisis began in 2009. This high net worth is expected to exceed a trillion $US by the end of 2018.
How many millionaires is that? According to the report, more than 150,000 of them, with an estimated billionaire population of 32. And all this with a population of just under 5.5 million persons. That indicates about 1 out of every 36 persons in Singapore is a millionaire.
Pretty good odds.
Yachts and wealth are an unsurprising combination, and nowhere is that more obvious than at the Singapore Yacht Show (SYS).
The 8th edition of the Singapore Yacht Show (SYS) happened before the political summit, between April 12th and 15th of 2018. Yachts, yachts, and more yachts, including superyacht displays, accessories for the marine set, and naturally, a whole lot of cocktail parties.
The SYS is a highlight of Singaporean social calendars, and estimated attendance for the 2018 event was 15,000 visitors, an increase over the 14,000 estimated in 2017. SYS cites the increased popularity of yachting in Asia as directly driven by ultra-high net worth individuals there driving demand.
Singapore’s Superyacht Shipyard
Hong Seh Marine, a Singaporean distributor of luxury cars, yachts and boats partnered with Pacific Radiance to create Singapore’s Superyacht shipyard. Haul up and hot works services exclusively for yachts over 90 meters long are offered in the more than 30,000 square meter facility. It boasts two dry docks, one 90 meters long and the other 100 meters. Float repairs are handled at a 95-120 meter water frontage facility, with two 32 ton docks and wharf cranes.
With all that infrastructure, it’s no wonder the yachts at this show are some of the most amazing in the entire world. Taking a look at a couple of standouts from the show:
Behold: the largest superyacht ever to be displayed at the Singapore Yacht Show. It’s the Silver Fast, with an amazing top speed of 27 knots. Room for up to 18 aboard, with an outdoor cinema, a glass Jacuzzi, and of course a helipad.
Yours for only US$85.9M, from SilverYachts.
Meet Ocean Emerald, the superyacht with the unusual profile. This vessel has credentials from architect Lord Norman Foster—designer of the Monaco Yacht Club. And this yacht can be yours for only US$95,000. Yes, you read that correctly—under a hundred thousand dollars. Of course, that is the charter price for a single, glorious week.
It’s no surprise all the attention yachts get at shows like the Singapore Yacht Show and of course in our very own Fort Lauderdale International Boat Show (the largest in the world). Elite Carpet Workroom understands the allure of the yacht and the people of means who acquire them.
That’s because Elite has built their reputation catering to the demanding needs of private jet and yacht owners, who demand innovation and precision in creating custom carpet installations in their aviation and marine interiors.
And Elite can bring that precision craftwork to your luxury home as well. The individual nature of each installation by Elite means that each and every job demands experience, skill, and precision and produces a one-of-a-kind creation in the end.
Elite can custom craft an intricate staircase carpet or custom area rug fabrication to your exact taste and specifications—whether for your jet, your yacht, or your private home. Elite Carpet Workroom offers a custom blend of exquisite craftsmanship and uncompromising performance in every carpet installed and every area rug fabricated.
No matter the size of your project or where it is—from a private jet or yacht or luxury home; from multi-room carpet installations; to massive custom area rugs; to creations with exotic leathers and more– Elite Carpet Workroom can create it for you.
Quality Without Compromise. Lasting quality for true luxury. Exceptional design delivered with exceptional service.
Precision crafting, peace of mind and complete satisfaction.
Elite Carpet Workroom. Let us create a carpet or area rug of lasting beauty for you: a creation that you can appreciate for a lifetime.