Singapore Sports Hub
Development, financing and operation of multi-functional sports hub
With a capital value of US$1.4bn, the project involved the construction of a 55,000-seat stadium, aquatic centre, multi-purpose indoor arena and supporting retail and commercial developments. Completed in 2014, the construction phase has now been followed by an operating period of 21 years, generating a combination of availability fees and event-related income.
square metres of commercial space
people worked on the project
A particularly long and complex bidding process was exacerbated by the global financial crisis, which made traditional sources of finance largely unavailable. Even so, our consortium successfully arranged bank funding and secured the contract in the summer of 2010.
One of the key factors that set the bid apart was our partnership with the Bouygues Group, one of the world’s leading construction companies. Together we have successfully developed and co-funded 12 projects involving capex of over US$3.5bn.
As the largest PPP in Singapore's history, this was a high profile and incredibly complex project. A broad range of investors, partners, sub-contractors and other stakeholders had to be managed. Commercial operations such as event management, retail, and catering needed to be coordinated.
And multiple revenue streams and service providers also required careful planning, involving performance-linked availability payments in addition to event-specific income derived from commercial rents, sponsorship, ticket sales, and event food and beverage sales.
Creating real value
Our ability to manage a broad range of parties, our skill in financial structuring and asset operation, and our close dialogue with the client ensured the venue was fit for purpose at opening.
The project was successfully refinanced in 2015.
At a glance
|Project Capital Cost||c.US$1.4bn|
|Status||Completed in 2014|
|Asset overview||National sports stadium and associated complex in Singapore|