Marina Bay Financial Centre will strengthen Singapore’s hub status: Mah

Minister for National Development Mah Bow Tan has described the Marina Bay Financial Centre as a strategic step in efforts to maintain Singapore’s position as a major player in the global banking and financial arena.

He said: “The development of the MBFC serves to further entrench and strengthen Singapore’s status as a financial hub. The first phase of the MBFC will comprise about 244,000 square metres of gross floor area for office space, residential apartments and retail facilities.

It is well positioned to meet the growing demand for prime office space in the CBD over the next 10 years, and providing employment for many thousands of people.” He noted that the public-private partnership has yielded multi-billion dollar investments into the area.

Mr Mah said: “The private sector has so far committed about S$9 billion worth of investments to Marina Bay. The Government is investing another $2 billion in infrastructural developments for Marina Bay to support private development. The MBFC will be an important contribution to the success of Marina Bay.” 

Source: Channel NewsAsia, 05 October 2006

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