Launch of Request for Proposals for the Integrated Resort at Marina Bay
The Request for Proposals (RFP) for the Integrated Resort (IR) at Marina Bay was launched on 15 November 2005 and will close on 29 March 2006. This marked another milestone in the development of IRs in Singapore. The potential investors who had submitted concept proposals during the Request for Concepts (RFC) exercise earlier this year have been invited to participate in the RFP.

In April 2005, the Singapore Government announced its decision to proceed with two IRs – one in Marina Bay and the other in Sentosa. The two IRs will boost Singapore's economy and enhance Singapore’s attractiveness as a tourist and business destination. They are expected to contribute in excess of S$1.5 billion to Singapore’s annual GDP, and create about 10,000 jobs directly, with another 25,000 jobs in other tourism-related industries.  Together, they will contribute to achieving the STB’s Tourism 2015 targets.

Yielding up to 570,000 square metres of gross floor area, the IR site at Marina Bay is envisaged to be developed into a large-scale iconic lifestyle destination with a diverse mix of convention and exhibition facilities, themed attractions, entertainment and performance venues, casino gaming, recreation facilities, hotels and retail outlets.

The IR at Marina Bay also fits the vision for Marina Bay. Over the next 10-15 years, the Marina Bay area will become an international business and financial hub and is envisaged to be a dynamic 24/7 waterfront “Garden City by the Bay”. Given its prominent waterfront location, proposers have been encouraged to design an IR that is modern, architecturally distinctive, urban and well-integrated.

The IR is also expected to enhance Singapore’s position as a leading destination for Meetings, Incentives, Conventions and Exhibitions (MICE). The MICE facilities in the IR will complement the existing MICE facilities in the Marina Bay area, while the range of night entertainment options provided by the IR will be a strong draw for business visitors.

The Government has also fixed the land price for the IR site at Marina Bay at S$1.2 billion, so that proposers can devote their full energy and resources to develop the best IR concept. The Government would then be able to evaluate and select the IR proposals based on their tourism appeal, level of development investment, architectural design, and strength of the consortium and partners’ track record and reputation. It is only through getting the right IR product that we can maximise the overall economic benefit for Singapore.

To this end, the potential investors were invited to a meeting on 18 November 2005 at the STB Auditorium, where they were briefed comprehensively on Singapore's Tourism 2015 vision as well as the planning considerations for the Marina Bay area.

The RFP for the IR at Sentosa is targeted to be launched in the first quarter of 2006 and will close four months after the Marina Bay RFP is awarded. The two IRs are expected to be opened within the next four to five years.