The Urban Redevelopment Authority (URA) has approved the development of a fourth tower by Marina Bay Sands (MBS), which has to be completed by Apr. 8, 2028.
The addition of a fourth tower is part of Marina Bay Sands’ expansion plan for the integrated resort, which was first announced in 2019.
Aside from an additional tower, the expansion plan will also see the construction of an entertainment arena and MICE (meetings, incentives, conferences, and exhibitions) space.
The new tower will be next to the current three towers on a bare plot that flanked by Bayfront Avenue, Sheares Avenue and Sheares Link.
New facilities to expect
According to data released by URA on Jan. 26, the new tower will have 587 hotel rooms, occupying about 153,100 sqm of floor area.
The number of new hotel rooms that URA has approved has been halved from the ininital 1,000 that MBS proposed. Currently, there are 2,561 rooms and suites in MBS.
The fourth tower will also boast a 15,000-seat entertainment arena and an additional MICE (meetings, incentives, conventions and exhibitions) space.
The new tower will also offer 12,185 sqm in retail space.
Reason for expansion
Back when the expansion plan was first announced in 2019, then-chief executive officer of MBS, George Tanasijevich, said it aimed to relieve constraints felt by MBS, as well as the industry.
In particular, Tanasijevich highlighted how MBS had been operating near or at full capacity.
He added that the integrated resort could only hold a limited number of events and concerts due to limited space at the exhibition halls, ballroom and outdoor event plaza.
Delays and more delays
Under an agreement inked with the Singapore Tourism Board (STB) in 2019, MBS had to start construction of the new development by Apr. 8, 2022.
By March 2022, both parties agreed to extend the deadline by a year to Apr. 8, 2023.
However, by February 2023, Las Vegas Sands, the parent company of Marina Bay Sands, said in an annual report that the expansion had been delayed with no firm commencement date.
It cited construction project risks that neither it nor its contractors could control, including shortages of material or skilled labor, unforeseen engineering, environmental and/ or geological problems, work stoppages, weather interference, unanticipated cost increases, and unavailability of construction materials or equipment.
In March 2023, the deadline for MBS to start construction was extended again to Apr. 8, 2024.
The latest update is that MBS has until Apr. 8, 2028 to complete its fourth tower.
However, a week before this latest update, Las Vegas Sands said in an earnings presentation that “the budget and timing of the MBS expansion are subject to revision based upon the impact of the Covid-19 pandemic and other factors”.
Las Vegas Sands also said it expects project costs to “meaningfully exceed” the original estimate of US$3.3 billion (S$4.5 billion).
Top photo by Marina Bay Sands
