Las Vegas Sands (NYSE:LVS) today announced a bold expansion plan for Marina Bay Sandsin Singapore which will see the world’s most successful and recognizable integrated resort add significant new tourism offerings to the property.
The company has entered into a development agreement with the Singapore government and said it will quickly begin work on the new project. Located immediately adjacent to the existing Marina Bay Sands Integrated Resort (IR), the key elements of the development will be a state-of-the-art 15,000-seat arena, a luxury hotel tower and additional MICE (Meeting, Incentive, Convention, and Exhibition) space.
The new 15,000-seat arena will play a key role in bringing new and repeat visitors to Singapore. With leading design and cutting edge technology, the venue will attract top entertainers from Asia and around the world. Its state-of-the-art production capability will appeal to performers who might not have previously included Southeast Asia on their tours. The hotel tower, which will feature approximately 1,000 all-suite rooms and set a new standard of luxury in Southeast Asia, will also include a sky roof with a swimming pool and a signature restaurant. The tower will feature a dramatic atrium and terraces along with exciting food and beverage offerings and a combination of meeting rooms, ballrooms and exhibition halls.
The company said 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. The current total projected budget for the expansion is approximately $3.3 billion (S$4.5 billion) and a timeline for its completion is not yet available.