The cost of Marina Bay Sands’ (MBS) expansion project, MBS IR2, has risen to $9 billion, reflecting a $1 billion increase due to recent adjustments.
The updated budget, initially set at $3.3 billion, now includes additional land premiums, pre-opening expenses, and design modifications, as outlined in a revised agreement with the Singapore Tourism Board (STB).
According to a filing by parent company Las Vegas Sands, the Second Supplemental Agreement requires MBS to cover the land premium for 2,000 square meters of new gaming area and 10,000 square meters of ancillary space. It also includes adjustments to floor area allocations. Additionally, the development benefits from an extended lease with STB, which now runs until August 21st, 2066.
At the heart of the $9 billion investment is a fourth hotel tower, featuring 570 luxury suites and expanded gaming options, including a “sky gaming” concept in the tower podium. Other key additions include a 15,000-seat arena, 110,000 square feet of MICE (meetings, incentives, conferences, and exhibitions) space, a SkyPark, and several high-end restaurants.
The project, first announced in 2019, is set to begin construction on July 8th, 2025, with completion expected by July 8th, 2029. Over time, the plans have evolved to accommodate new design and operational requirements, contributing to the budget increase.
While costs have surged to 2.5 times the original estimate, MBS says that it remains committed to delivering a world-class expansion that strengthens Singapore’s position as a premier global destination for tourism and entertainment.
