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Nov 19, 2009

Singapore Sports Hub Consortium launches competition to raise funds

Sport / Finance / Venues

The Singapore Sports Hub Consortium has launched a financing competition to help raise funds for the project, estimated to cost S$1.87 billion (AUS$1.44 billion).

Last month, Singapore's Community Development, Youth and Sports Minister Vivian Balakrishnan had said the Sports Hub project is back on track and construction should start by the first quarter of 2010.

In a statement, the consortium said it intends to raise bank debt financing and expects to receive offers before year-end.

It declined further comment, although it is understood that despite the uncertain current economic climate, the consortium is confident of good response from the banks to the financing.

After repeated delays, the Sports Hub is now expected to be completed by late 2013 or early 2014.

28th January 2008 - SINGAPORE SPORTS HUB CONSORTIUM TO BUILD NEW STADIUM

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