Marina Bay Sands to build 4th tower by 2029
Marina Bay Sands (MBS), a well-known casino and hotel resort in Singapore, is embarking on a massive expansion of its downtown property with plans to build a fourth tower by 2029. MBS announced on Friday that construction will begin in earnest by July 2025, with the goal of completing it in July 2029, as the COVID-19 pandemic struggles.
The place that remains essential for tourism in Singapore
The ambitious expansion project, first unveiled in 2019 with a budget of S$4.5 billion (US$3.33 billion), has faced significant delays due to the shutdown caused by the pandemic. However, with continued support from the Singaporean government, MBS is pushing forward with visionary initiatives to enhance leisure and business tourism appeal in city-states.
Patrick Dumont, president and chief operating officer of Las Vegas Sands, the parent company of MBS, emphasized the importance of the expansion in driving high-value tourism growth to Singapore. He emphasized that the project will optimize the location's programming elements while aligning with Singapore's strategic goals. This expansion aims to play a pivotal role in attracting more travelers to Singapore.
Since its inception with a development cost of $5.6 billion, MBS has welcomed more than 470 million visitors, contributing significantly to Singapore's business tourism appeal by hosting more than 1,750 MICE events. The venue aims to maintain the latest technologies, regularly introducing new improvements and maintaining fresh and exciting offerings.
Existing amenities will also be improved
The planned expansion features a luxury hotel tower with an impressive skyroof and a 15,000-seat entertainment arena. It will also introduce new dining, drinks, and nightlife options, while creating space for meetings, incentives, meetings, and exhibitions (MICE). Apart from the hotel expansion, MBS is investing $1.75 billion in existing properties while improving existing facilities.
This expansion aims to play a pivotal role in attracting more tourists to Singapore. The new entertainment arena should attract top celebrities who may have previously overlooked Southeast Asia on their tour. The additional MICE space will facilitate Macau's increasing focus on mainland China to host more events in the city-state.
Singapore's hospitality sector is on track for a full recovery, with overseas visitor arrivals reaching 71% of pre-pandemic levels in 2023 and tourism revenue reaching up to $19.2 billion. The Singapore Tourism Authority expects further improvement this year on the back of a gradual recovery in global air travel capabilities and increased interest in South Asia as a leisure destination.
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