Deutsche Bank estimates that the budget could increase to US$4bn.
Singapore- Las Vegas Sands is likely to increase the budget for its Marina Bay Sands revamp project in Singapore to US$4bn, according to Deutsche Bank.
The original budget for the project was US$3bn, including US$900m for the land premium, which was paid several years ago. However, last year, the company said inflation, material and labour expenses and other factors have led to higher costs for work on the hotel expansion.
The proposed expansion would include a new hotel tower with 1,000 rooms and suites, MICE facilities, a 15,000-seat arena, and a rooftop swimming pool. Analysts added that the new facility would likely have gaming, which was not contemplated in the previous budget.
Although there is no clear timeline for the conclusion of the project, Marina Bay Sands completed the development of over 850 hotel rooms in Towers 1 and 2. The newly configured rooms and suites are part of the US$1bn renovation project announced separately in February 2022.
Deutsche Bank estimates that the budget could increase to US$4bn. Singapore- Las Vegas Sands is likely to increase the budget for its Marina Bay Sands revamp project in Singapore to…
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