Singapore's iconic tourism destination Marina Bay Sands' will add a new 'fourth tower', adjacent to the existing three towers, at an approximate USD 3.3 billion investment, in its bid to attract more international visitors.
We are currently planning an all-suite hotel which will offer the highest level of amenities, features and service standards. It will target the high-value international visitors, said George Tanasijevich, President and Chief Executive Officer, Marina Bay Sands.
He said the expansion project is going to give great opportunity to make Marina Bay Sands and Singapore a better tourism destination.
Located adjacent to the existing Marina Bay Sands Integrated Resort, the key elements of the development will be a state-of-the-art 15,000-seat arena and additional MICE (Meeting, Incentive, Convention, and Exhibition) space besides a luxury hotel tower.
Concert ticket prices in Singapore are among the highest in the world and as a result, the pool of potential customers is suppressed, Tanasijevich said.
An arena with 15,000 seats will result in ticket prices being in line with industry norms, and make the events more accessible to a larger number of people. This, in turn, will lead to an increase in the number of music events in Singapore, he told PTI.
The new arena is also suitable for MICE groups to host big plenary sessions and large conference groups who need to sit up to 15,000 persons in one session, the CEO said, explaining the project.
The set-up of the arena will also allow for much more elaborate technical productions than our existing MICE facilities, which are increasingly in demand by MICE event organisers, he said.
The current total projected budget for the expansion is approximately USD 3.3 billion (Singapore Dollar 4.5 billion) and a construction timeline is not yet publicly available, according to an official statement.
Boston-based architect Moshe Safdie, who designed the original property, Aedas and Gensler are planning to be part of the team responsible for the design elements of the building, it said.
Marina Bay Sands consists of three hotel towers crowned by the Sands Sky Park. With over 2,500 rooms and suites over 55 floors, it is the biggest hotel in Singapore and the most Instagrammed hotel in the world in 2017, the statement said.
About 11.1 million international visitors had come to Singapore during January and July this year, that included 8, 59, 003 from India, as per Singapore Tourism Board (STB) data.
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