Las Vegas Sands Launches $8 Billion Expansion at Marina Bay Sands

Las Vegas Sands has officially commenced construction on its ambitious expansion project at Marina Bay Sands in Singapore, valued at a staggering $8 billion (approximately S$10.3 billion). The groundbreaking ceremony, held on July 15, 2023, featured prominent attendees, including Singapore’s Prime Minister Lawrence Wong, who emphasized the significance of the development for the region.

The expansion, referred to as IR2, aims to create an “ultra-luxurious resort and entertainment destination.” According to Las Vegas Sands, this project is designed to redefine industry standards in luxury tourism, hospitality, and entertainment. Key executives from the company were present, including co-founder Miriam Adelson, chairman and CEO Robert Goldstein, and president and COO Patrick Dumont.

Project Details and Features

The expansion, designed by Safdie Architects, will introduce a new all-suite hotel tower featuring 570 suites. Dumont highlighted that the average suite size in this new 55-storey tower will surpass that of the existing accommodations at Marina Bay Sands. The development will also enhance the retail and dining offerings, with more luxury boutiques and high-end restaurants planned.

A new gaming area, approximately 200,000 sq ft of premium meeting space, and a 15,000-seat entertainment arena are also part of the project. This arena is set to host both regional and international acts, adding to Singapore’s appeal as a global entertainment hub. Notably, the new tower will feature a multi-storey rooftop experience known as “Skyloop,” which will provide stunning 360-degree views of the Singapore skyline.

The Skyloop will encompass 76,000 sq ft and include public access points such as an observatory, gardens, and restaurants. Guests will find private cabanas, infinity pools, and wellness terraces designed for yoga and art events within the exclusive areas above.

Originally announced in 2019, the plans for this fourth tower faced delays due to the COVID-19 pandemic. The estimated development costs have surged from an initial $3.3 billion to the current figure due to inflation and increased labor and material costs. The project is now anticipated to reach completion by June 2030, with an official opening slated for January 2031, pending government approval.

Sustainability and Economic Impact

Las Vegas Sands has stated that sustainability will be integrated into the project’s architecture and practices. The company plans to utilize materials with lower environmental impact, including low-carbon concrete and recycled steel, to minimize the project’s ecological footprint. A construction waste management plan has also been established to further support these sustainability goals.

During the ceremony, Prime Minister Wong noted that the Marina Bay area has evolved into “a symbol of the Singapore story,” representing a thriving hub for finance, business, and tourism. He referred to the groundbreaking as a pivotal moment for Marina Bay, promising new attractions that will refresh the skyline.

Wong also remarked on the broader transformation of the Southern waterfront, which promises new commercial, recreational, and housing opportunities. Reflecting on the inception of integrated resorts in Singapore in 2005, he described it as a “bold move” to reimagine the nation’s tourism landscape, highlighting the partnership with Las Vegas Sands as instrumental.

Goldstein articulated that the new hotel tower is not merely an extension of Marina Bay Sands but a “brand new building with a brand new identity.” He expressed pride in the existing resort while emphasizing the goal of creating something distinct and world-class, aiming to elevate Singapore’s luxury tourism profile in Asia for years to come.

The event culminated in a celebratory lighting of Marina Bay Sands, which displayed golden hues to mark the occasion. The ceremony attracted over 220 guests and featured performances by local artist Jasmine Sokko and Canadian pop sensation Henry Lau.

Marina Bay Sands, which opened in 2010 at a development cost of $5.6 billion, has undergone a $1.75 billion multi-year refurbishment aimed at enhancing its offerings to attract affluent travelers. Currently, the integrated resort employs more than 12,000 people in Singapore and notably invested 92 percent of its procurement costs in local businesses last year.