Latest news with #Mice
New York Post
2 days ago
- Business
- New York Post
Marina Bay Sands is getting an $8B expansion
Singapore's eye-catching Marina Bay Sands hotel and resort is undergoing an $8 billion expansion. A trip to Singapore isn't complete without taking a look at Marina Bay Sands. The massive resort, made up of three 650-foot-tall skyscrapers and connected by a boat-like skybridge, is a symbol of the city-state's modernism and prosperity. Such a pricey expansion to such a national icon is, predictably, a hot-button topic. Marina Bay Sands is set to receive a fourth tower, plus a 15,000-seat arena. The makeover broke ground this month under the looming specter of public scrutiny. 6 When it opened in 2011, Marina Bay Sands hotel and resort radically redefined the Singaporean skyline. AFP via Getty Images 6 A rendering of the planned fourth tower and adjoining event venue. Safdie Architects The resort's original architect, Moshe Safdie, designed the new tower. 'The (Urban Redevelopment) Authority repeatedly said, 'This is our icon; our people of Singapore love this, and we cannot do anything that's going to compromise it,' Safdie told CNN. The 87-year-old Israeli architect told the outlet that his goal was to design an edifice that was complimentary to the originals, while bearing its own identity. The current iteration of Marina Bay Sands, owned by the US casino and resort company Las Vegas Sands, attracted 38 million visitors and the equivalent of $1.7 billion in business spending last year, according to CNN. Safdie, whose firm is headquartered in Massachusetts, said connecting the fourth tower to the other three was hardly considered. Instead, the 55-story extension will be set apart on an adjacent plot. He described the new tower as the dot of an exclamation point. 6 The fourth tower's boat-like 'Skyloop.' Safdie Architects 6 The adjoining event venue will host a massive arena, and 200,000 square feet of conference and exhibition space. Safdie Architects 'The buildings look related,' Safdie told the outlet. 'They're in the same family.' The new tower will comprise of 570 suites, as well as luxury retail and gaming facilities. The facade, twisting at a 45-degree angle, tops off with a 76,000-square-foot 'Skyloop,' featuring the resort's famous infinity-edge pools, an observatory, restaurants and lush rooftop gardens. The fourth tower will share the original resort's panoramic views of the Marina Bay and Singapore Strait. A massive event venue, designed by the team behind the Las Vegas Sphere, will sit neatly in between the two structures. The building will span approximately 200,000 square feet of conference and exhibition space, with a 15,000-seat sports and entertainment arena at its core. The new development aims to capture more tourism revenue from so-called 'Mice' travelers, according to CNBC, who flock to the city for meetings and conferences, as well as leisure travelers trekking through Asia. 6 Local reactions to the recently announced plans range from disgust to excitement. AFP via Getty Images 6 The three-pronged resort is known for its highly Instagrammable rooftop pool. Best View Stock – Online commenters reacted strongly to the development's recent groundbreaking, with some Redditors comparing the fourth tower design to a lurking neighbor of a 'huge dehumidifier.' Safdie told CNN that all the new development needs is time, saying that, before long, 'people will feel it's always been there.'
Yahoo
15-07-2025
- Business
- Yahoo
Current economic headwinds do not dampen outlook for new MBS building: Las Vegas Sands president
SINGAPORE – Consumer spending in the Asia-Pacific is currently dampened due to geopolitical factors, but Las Vegas Sands' Patrick Dumont remains unfazed about long-term business projections for the upcoming Marina Bay Sands (MBS) development. 'We think in 10, 20-year terms,' said Mr Dumont, who is the president and chief operating officer at Las Vegas Sands, MBS' parent company. 'South-east Asia is filled with young people who are entrepreneurial, aspirational and working very hard and creating business success, and as that occurs, they want to consume, and experience things that are unique, luxury and aspirational. MBS' new US$8 billion (S$10.3 billion) development is set to be completed by 2030 and open in the first quarter of 2031. The complex will comprise 570 luxury hotel suites, a casino, a 15,000-seat entertainment arena, and 200,000 sq ft of meeting and convention space. It will also have a 'Skyloop' – a counterpart to the current MBS SkyPark – and high-end restaurants. 'This is going to be the most luxurious and high-serviced hotel in the world,' Mr Dumont told The Straits Times on July 14, a day before the groundbreaking on the new development. The new complex costs almost 50 per cent more than the US$5.6 billion that was pumped into the development of the existing MBS integrated resort by Las Vegas Sands 15 years ago. Despite being targeted at the ultra-luxury market, it will have public spaces open to everybody – such as the new Skyloop on the roof, where two overlapping elliptical decks are stacked on top of each other. The lower Skyloop will have several public areas, including an observatory, restaurants and rooftop gardens, while above, hotel guests will have private cabanas and infinity-edge pools. There will also be a wellness terrace for events. Singapore is 'incredibly desirable' to Las Vegas Sands and its significant investments because so many people want to come to the Republic to live and do business, said Mr Dumont. 'So it's very important for us to continue to invest and grow our capabilities, to maintain leadership in the industry... This is the next evolution in high-value tourism investment.' The focus on high-spending business and leisure tourists aligns with the Government's focus, he noted. For example, the authorities have identified the Mice (meetings, incentives, conferences and exhibitions) segment as a key growth engine for Singapore tourism. Mice visitors are expected to contribute 10 per cent, or $3.5 billion, of the country's tourism receipts by 2040. The upcoming entertainment arena, for instance, will be able to hold both live performances and Mice events. 'We'll have a connection through a bridge that will allow people to have a large Mice event and then also use the arena for other purposes as part of that event,' said Mr Dumont, adding that it is important for the new development to include amenities not available in the existing MBS property. He also envisions the new development having a larger impact on the Marina Bay district as a whole in what he described as a 'halo effect'. 'Where it not only enhances our ability to conduct tourism and drive people to Singapore and to our properties, but also enhances the Marina Bay district as a desirable tourism destination because of the amenities that we'll provide.' Source: The Straits Times © SPH Media Limited. Permission required for reproduction Discover how to enjoy other premium articles here
Straits Times
15-07-2025
- Business
- Straits Times
Current economic headwinds do not dampen outlook for new MBS building: Las Vegas Sands president
SINGAPORE - Consumer spending in the Asia-Pacific is currently dampened due to geopolitical factors, but Las Vegas Sands' Patrick Dumont remains unfazed about long-term business projections for the upcoming Marina Bay Sands (MBS) development. 'We think in 10, 20-year terms,' said Mr Dumont, who is the president and chief operating officer at Las Vegas Sands, MBS' parent company. 'South-east Asia is filled with young people who are entrepreneurial, aspirational and working very hard and creating business success, and as that occurs, they want to consume, and experience things that are unique, luxury and aspirational. MBS' new US$8 billion (S$10.3 billion) development is set to be completed by 2030 and open in the first quarter of 2031. The complex will comprise 570 luxury hotel suites, a casino, a 15,000-seat entertainment arena, and 200,000 sq ft of meeting and convention space. It will also have a 'Skyloop' - a counterpart to the current MBS SkyPark - and numerous high-end restaurants. 'This is going to be the most luxurious and high-serviced hotel in the world,' Mr Dumont told The Straits Times on July 14, a day before the groundbreaking on the new development. The new complex costs almost 50 per cent more than the US$5.6 billion that was pumped into the development of the existing MBS integrated resort by Las Vegas Sands 15 years ago. Despite being targeted at the ultra-luxury market, it will have public spaces open to everybody - such as the new Skyloop on the roof, where two overlapping elliptical decks are stacked on top of each other. The lower Skyloop will have several public areas including an observatory , restaurants and rooftop gardens, while above, hotel guests will have private cabanas and infinity-edge pools. There will also be a wellness terrace for events . Singapore is 'incredibly desirable' to Las Vegas Sands and its significant investments because so many people want to come to the Republic to live and do business, said Mr Dumont. 'So it's very important for us to continue to invest and grow our capabilities, to maintain leadership in the is the next evolution in high value tourism investment.' The focus on targeting high-spending business and leisure tourists aligns with the Government's focus, he noted. For example, the authorities have identified the Mice (meetings, incentives, conferences and exhibitions) segment as a key growth engine for Singapore tourism. Mice visitors are expected to contribute 10 per cent, or $3.5 billion, of the country's tourism receipts by 2040. The upcoming entertainment arena , for instance, will be able to hold both live performances and Mice events. 'We'll have a connection through a bridge that will allow people to have a large Mice event and then also use the arena for other purposes as part of that event,' said Mr Dumont, adding that it is important for the new development to include amenities not available in the existing MBS property. He also envisions the new development having a larger impact on the Marina Bay district as a whole, in what he described as a 'halo effect'. 'Where it not only enhances our ability to conduct tourism and drive people to Singapore and to our properties, but also enhances the Marina Bay district as a desirable tourism destination because of the amenities that we'll provide.'
Business Times
30-06-2025
- Business
- Business Times
Mice design-and-build specialist Dezign Format eyes Catalist IPO, lodges preliminary prospectus
[SINGAPORE] A second company in two weeks is preparing to list on the Singapore Exchange's Catalist board, with Dezign Format Group lodging its preliminary prospectus on Monday (Jun 30). This follows a similar move by Lum Chang Creations on Jun 23, as part of its spin-off from mainboard-listed Lum Chang Holdings. In its offer document, Dezign Format said it provides events, exhibitions and decor services across various industries, including the meetings, incentives, conferences and exhibitions (Mice) sector. Its services span the design and fabrication of custom environments, project management and festive decoration works. The company also offers interior fit-out services for commercial spaces, and develops, licenses and commercialises location-based entertainment experiences. For FY2024, Dezign Format posted a net profit of S$5 million, up 53.8 per cent from S$3.3 million the year before. Revenue rose 28.5 per cent to S$33.4 million, from S$26 million previously. The company attributed this growth to stronger sales across all business segments. Looking ahead, it expects revenue to rise in FY2025, citing 'the rising demand for design-and-build services' in Singapore's Mice industry. It also believes it is 'well-positioned' to tap into the growing trend of experiential event offerings.
Straits Times
30-06-2025
- Business
- Straits Times
Another interior fit-out company eyes Catalist IPO as Dezign Format lodges preliminary prospectus
Dezign Format Group's preparation to list on the Singapore Exchange's Catalist board follows a similar move by Lum Chang Creations on June 23. PHOTO: BT FILE SINGAPORE – A second interior fit-out company is preparing to list on the Singapore Exchange's Catalist board in as many weeks, as Dezign Format Group lodged its preliminary prospectus on June 30. This follows a similar move by Lum Chang Creations on June 23, as part of its spin-off from mainboard-listed Lum Chang Holdings. In its offer document, Dezign Format said it provides events, exhibitions and decor services across various industries, including the meetings, incentives, conferences and exhibitions (Mice) sector. Its services span the design and fabrication of custom environments, project management and festive decoration works. The company also offers interior fit-out services for commercial spaces, and develops, licenses and commercialises location-based entertainment experiences. Revenue rose 28.5 per cent to $33.4 million, from $26 million previously. The company attributed this growth to stronger sales across all business segments. Looking ahead, it expects revenue to rise in FY2025, citing 'the rising demand for design-and-build services' in Singapore's Mice industry. It also believes it is 'well-positioned' to tap into the growing trend of experiential event offerings. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
