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MBS gets URA approval to build 587-room fourth tower, down from previous 1,000-room plan

2024-01-29 00:00:00.0 海峡时报-新加坡原网页

SINGAPORE – Marina Bay Sands (MBS) has received approval from the authorities to develop a fourth tower, paving the way for a planned expansion of the integrated resort to be carried out.

According to the Urban Redevelopment Authority’s (URA) data for commercial projects with development approvals as at the end of the fourth quarter of 2023, MBS was given the green light for a hotel and retail development next to its current three towers on an empty plot that is flanked by Bayfront Avenue, Sheares Avenue and Sheares Link.

URA’s data, released on Jan 26, indicates that the new tower will have 153,100 sq m of hotel space over 587 rooms and 12,185 sq m of retail space.

MBS previously announced in April 2019 that its fourth tower would house 1,000 all-suite rooms.

Asked about the discrepancy in room numbers, MBS declined to give more information.

The integrated resort, which opened in April 2010, currently has a gross floor area of 581,400 sq m, including about 1,850 rooms and suites and about 74,000 sq m of retail and dining space.

On Jan 24, parent company Las Vegas Sands (LVS) said in its earnings presentation for the fourth quarter of 2023 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”.

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LVS added that project costs are expected to “meaningfully exceed” the initial US$3.3 billion (S$4.5 billion) estimates – inclusive of land – that were made in 2019, due to “inflation, the impact of the Covid-19 pandemic, higher labour and material costs, and other factors”.

Design, development and programming work for the fourth tower “remain ongoing, with a focus on increasing the leisure and business tourism appeal of Singapore and MBS”, LVS said.

It was reported in March 2023 that MBS had been given until April 8, 2024, to commence construction for the expansion – the second extension of a construction deadline under a development agreement LVS signed with the Singapore Tourism Board in April 2019.

MBS now has until April 8, 2028, to complete its fourth tower, on land it has leased until August 2066.

The tower is to comprise all-suite rooms, and will be accompanied by a live performance arena that seats at least 15,000 spectators, as well as additional Mice (meetings, incentives, conventions and exhibitions) capacity and luxury retail offerings.

An artist’s impression of the 15,000-seat arena to be built as part of MBS’ expansion, that was released in April 2019. PHOTO: MARINA BAY SANDS

A sky roof with a swimming pool and “other tourist attractions” will top the new tower, said LVS.

URA’s approval of MBS’ development plans follows the agency’s approval in the third quarter of 2023 of an expansion to Resorts World Sentosa (RWS).