No formal proposal from MBS on acquisition of land sites

US casino giant Las Vegas Sands may be keen to build more hotel rooms in Singapore, but the company has not made any formal proposal to authorities here.

The world’s biggest casino operator plans to add 1,500 rooms to its Marina Bay Sands integrated resort in Singapore, the firm’s billionaire founder Sheldon Adelson said last week.

A news report had quoted Mr Adelson as saying that Las Vegas Sands also intends to add meeting rooms, ballrooms and exhibition spaces in Singapore when the government releases more land.

A spokeswoman for Marina Bay Sands confirmed Mr Adelson’s remarks.

“STB has not received a formal proposal from Marina Bay Sands regarding the acquisition of land sites,” a spokeswoman for the Singapore Tourism Board said in response to questions from Channel NewsAsia.

The Urban Redevelopment Authority (URA) said its officials had not met Mr Adelson recently.

“The release of land in Marina Bay under the Government Land Sales Programme will be paced according to the on-going infrastructure works in the Marina Bay area, our overall development plans for Singapore and projection of market demand,” URA added.

Marina Bay Sands currently has around 2,600 rooms spread across three towers. The hotel is popular with visitors to Singapore and its occupancy rate and room charges are among the highest in the city-state.

There are vacant sites next to Marina Bay Sands, but the government has not yet released any of the land for tender by developers or indicated when it might do so.

Built at a cost of around US$5.7 billion, Marina Bay Sands was the world’s most expensive casino complex at the time of its opening in 2010.

Source : Channel NewsAsia – 25 Mar 2014

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