Marina Bay Sands gets approval to develop Tower IV
The new tower will have hotel rooms, an entertainment arena and MICE facility to be added by April 8, 2028.
Singapore.- The Urban Redevelopment Authority (URA) has approved Marina Bay Sands’ (MBS) Tower IV as part of its integrated resort’s expansion plan initially announced in 2019. The fourth tower is slated for completion by April 8, 2028, and will be adjacent to the three existing towers.
Covering approximately 153,100 sqm, the tower’s room count of 587 is almost half of the original proposal of 1,000 rooms. The integrated resort currently has 2,561 rooms and suites.
In addition to the hotel, the fourth tower will feature a 15,000-seat entertainment arena, augmenting MBS’s capacity for events and concerts, and a dedicated space for MICE tourism.
Construction was due to commence by April 8, 2022, under an agreement with the Singapore Tourism Board (STB). However, due to delays attributed to uncontrollable construction risks, the deadlines for completion has been out back multiple times and is now set for April 8, 2028.
See also: STB, MBS and UOB work to promote Marina Bay precinct
MBS generated net revenue of US$1.06bn in the fourth quarter of the year 2023. The figure was up 55.6 per cent in year-on-year terms and up from US$1.5bn in the previous quarter. Full year 2023 net revenue was up 53 per cent at US$3.85bn. According to Las Vegas Sands, MBS accounted for 36.4 per cent of the company’s net revenue and 45.4 per cent of its adjusted property EBITDA.
