Three vie for Changi Motorsports Hub

Source : Business Times – 28 Aug 2009

3.5km race track will have grandstand for at least 8,000

It’s all systems go for the Changi Motorsports Hub (CMH).

Three of the seven parties that applied for the Request For Proposal (RFP) to build and manage the 41 hectare hub submitted tender proposals by the 4pm deadline yesterday.

And the outcome is one the Singapore Sports Council (SSC) is happy with, given the challenging economic climate.

Submissions came in from Singapore Agro Agriculture, Sports Services, which is linked to Haw Par Corporation, and SG Changi, a consortium of different partners.

The winning party will be known by the first quarter of 2010.

‘Haw Par submitted a bid before the close this afternoon,’ Haw Par confirmed yesterday when contacted by BT.

The other four parties that initially expressed interest in the tender documents when they were released at end-March include SUTL Group and Peter Kwee’s auto group Exklusiv.

The three tender proposals received are ‘a good indication that the value proposition for Changi Motorsports Hub remains strong,’ said SSC chairman Alex Chan.

‘This milestone will take Singapore a step closer to becoming a premier motorsports destination.’

However, BT understands that some parties raised concerns during the months leading up to the tender submission deadline.

These ranged from the stringent terms in the RFP to securing the several hundred million dollars required for the project, especially during the downturn.

CMH, which will be ready by end-2011, will feature a permanent race track of at least 3.5 km and a grandstand for at least 8,000 spectators.

A little over half of the 67,000 sq m of gross floor area (GFA) will be devoted to commercial activity, which can include entertainment complexes, food and beverage facilities, retail outlets and convention halls.

Previously, the total motorsports and commercial GFA was set at 13,000 sq m, but SSC later upped the area to 67,000 sq m to make the project more commercially viable.

CMH is expected to contribute significantly to the government’s aim of developing a $2 billion-a-year sports industry by 2015 and having 20,000 people in sports-related jobs.