Singapore Government to market test uses for Changi motorsport site

The Singapore Sports Council (SSC) has rolled out a comprehensive four-month market sounding exercise to assess the level of continuing interest and ideas among potential investors for a motorsports hub or other sports and lifestyle concepts at the 41 hectare site in Changi, which was earlier slated for a motorsports development.

The market sounding exercise will conclude with a Request For Information (RFI) process, which is scheduled to be conducted via GeBiz (the Singapore Government's one-stop e-procurement portal) by the end of this year.

SSC Chief Executive Lim Teck Yin explains "the initial phase of the market sounding exercise is aimed at engaging more potential investors so that they can contribute their ideas and provide information meaningfully in the later stage of the exercise when the official Request For Information is launched.

We hope to reach out to local and overseas investors, both within and outside the motorsports industry, who would be keen to come up with innovative ideas to put Singapore on the global sporting map, engage the larger community and add value to our economy."

Consultant PwC has been officially appointed by SSC to provide advisory services for the RFI and engage potential investors through various means such as one-on-one investor engagements and 'Open Days' in Singapore and other major cities.

After the conclusion of the market sounding exercise and RFI, SSC will deliberate on the feedback gathered before deciding in the first quarter of next year whether or not to proceed with a re-tender.

SSC had terminated the Project Delivery Agreement with SG Changi for the Changi Motorsports Hub in December 2011. Both parties have also signed off on a deed of settlement on various issues relating to the land on 15th May 2012, with SSC currently in possession of the site.

Interested parties may contact Lee Seng Chee from PwC on +65 6236 4178 or Tham Chen Munn from SSC on +65 6500 6168, E: seng.chee.lee@sg.pwc.com, www.ssc.gov.sg

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