New expansion for Marina Bay Sands in Singapore

Lea Hogg April 15, 2024

SiGMA news

New expansion for Marina Bay Sands in Singapore

The Marina Bay Sands, a multi-billion-dollar landmark in Singapore, is on the brink of a significant transformation. The expansion project, which has been in the pipeline for some time, has now entered its final phase of design enhancements. As per the latest statement released by the company, full-scale construction is expected to commence by July 2025, with a targeted completion date set for July 2029. The expansion project, designed by Safdie Architects, the same team behind the existing property, promises to bring a host of new features.

These include a luxury hotel tower topped with a sky roof, a state-of-the-art 15,000-seat entertainment arena, and additional premium MICE (meetings, incentives, conferences & exhibitions) space. The project will also introduce new food and beverage options and nightlife offerings.

Redefining Singapore’s entertainment

The new arena is set to become Asia’s leading live entertainment venue, offering world-class premium hospitality experiences. The company emphasizes that the expansion will significantly contribute to attracting more inbound travel to Singapore. The arena is expected to draw top entertainers from Asia and around the globe, many of whom may not have previously included Southeast Asia in their tours. The additional MICE space will also help attract more new-to-Singapore events. Financial estimates from Deutsche Bank suggest that Las Vegas Sands, the parent company of Marina Bay Sands, may revise the expected expansion costs for the property’s revamp in Singapore.

“The expansion project aims to relieve both Marina Bay Sands’ and market constraints,” said George Tanasijevich, President & Chief Executive Officer, Marina Bay Sands. “Our annual hotel occupancy levels have ranged from 94 to 99 percent. Our exhibition halls have been at full capacity for years and our grand ballroom is unable to accommodate current demand. Given the 5,000 seat capacity of our ballroom and outdoor event plaza for concerts, we are limited in the number of events we can stage.”

The planned budget could potentially increase to $4 billion, up from the original estimate of $3 billion, which included a $900 million land premium paid several years ago. Until now, there was no clear timeline for the project’s completion. However, with the latest statement, the future of Marina Bay Sands seems to be taking shape, marking the dawn of a new era in 2025.