Singapore Invites International Consortia To Bid For Asia's First Integrated Worldclass Motorsports

Singapore Invites International Consortia to Bid for Asia's First Integrated World-class Motorsports and Leisure Hub Initiative

Singapore, 30 March 2009 - The Singapore Sports Council (SSC) today released a Request For Proposal (RFP) offering local and international consortia a unique opportunity to build and manage the Changi Motorsports Hub (CMH). Set to become Asia's first premier motorsports and entertainment centre, the CMH will feature top-notch motorsports facilities and amenities for motorsports enthusiasts, businesses, consumers and tourists alike.

A world-class motorsports destination, CMH will sit on a 41-hectare sea-facing site near Changi Airport and will be conveniently connected to the City's key tourist attractions and landmarks as well as the Central business district. Expected to be ready by the end of 2011, the Hub will feature a permanent racetrack of at least 3.5 kilometres along the coastline, complemented with a permanent sheltered grandstand for at least 8,000 spectators who will have unblocked views of the entire racetrack.

The CMH is a significant project initiated by the Government, following the success of Singapore's inaugural FORMULA 1 night race, which won instant international acclaim and catapulted the country to the forefront of motorsports in Asia. With the race as a major force in the local motorsports scene till 2012, the Government is set to ride on the momentum and develop the city-state into a regional sports and entertainment hub. CMH is a major project that will contribute to the Government's vision of a S$2 billion sports industry by 2015, along with the goal of employing 20,000 people in sports related jobs.

Mr Alex Chan, Chairman of the Singapore Sports Council said, "SSC and its advisors conducted intensive qualitative and quantitative research in Singapore and the region to gain insights into the country's advantages as a motorsports destination, as well as identify what consumers would like to see in a racetrack. We spent the last few months actively engaging all stakeholders to refine the project specifications to make this a compelling investment proposition. I'm happy to announce that one of the key changes is the increase in the land plot size from 20 hectares to 41 hectares. We have also increased the maximum allowable space for commercial usage significantly. These key specification changes will have a major impact on the commercial viability and design optimization for the project."

"The racetrack's unique selling points include its seafront location, compact track design, motorsports and other leisure activities all rolled into one; together with Singapore's long term commitment to grow the motorsports, sports and tourism industries. We are confident that this will be a very attractive investment proposition for global investors and partners to build and expand their business in Singapore and the region," he said.

CMH will house its own racing academy and will serve as a regional training and research & development centre for motorsports. The CMH will host top international motorsports competitions - including the Fédération Internationale de l'Automobile (FIA) Grade 2 race - as well as Meeting, Incentive, Conference and Exhibition (MICE) events. Pulsating with activities round the clock, it will contain motorsports-related and general retail outlets, restaurants, and other engaging lifestyle and entertainment offerings.

To ensure the success of the project, the SSC engaged Confluence as its partner in developing the RFP, with VDM as the racetrack advisor. Jörg Dietzel Brand Consultants led the research and marketing of the CMH proposition. Moving forward, SSC aims to attract potential consortia that comprise entities such as racetrack designers, architects, property developers, sports developers, events and entertainment organisers and retailers.

Mr Chan added, "This strong overarching vision of an aspirational Motorsports Hub is reflected in our proposal criteria. Amongst others, proposals need to demonstrate an ability to position CMH as the preferred venue for international motorsports events, an ability to build a centre of excellence for motorsports training and education, as well as financial and business sustainability. Concept is key to our consideration, and we have based the RFP process on a two envelope system to effectively evaluate bids on that basis."

The Changi Motorsports Hub RFP will be available from SSC from 3.00pm (Singapore time) from 30 March 2009 onwards.

A deposit of S$10,000 is required for the RFP, which will be refunded upon submission of a conforming proposal. Proposals must be submitted by 4.00pm (Singapore time) on 27 August 2009.