Singapore Government launches Request for Proposals for the Integrated Resort on Sentosa

The Request for Proposals (RFP) for the Integrated Resort (IR) on Sentosa in Singapore was launched Friday and will close on 10 October 2006. All qualified proposers from the earlier Request for Concepts (RFC) (including those invited to participate in the RFP for the IR at Marina Bay) are eligible to participate in the RFP for the IR on Sentosa.

The IR on Sentosa

The IR on Sentosa is envisaged to be a large-scale iconic development and a “must-visit” attraction for visitors. It will be a world-class tropical resort that offers the whole family a fun and memorable leisure experience. It will broaden Singapore’s tourism and entertainment options, complement existing tourist attractions as well as catalyse new tourism investments.

The IR on Sentosa will occupy a 49-hectare site, and yield up to 343,000 sqm in gross floor area. Leveraging on its location in the resort setting of Sentosa, the IR could have an enthralling mix of island resort recreational and entertainment facilities. Other amenities and facilities within the IR could include resort hotels, spas, dining and retail outlets, corporate meeting facilities, incentive travel venues as well as a casino.

The IR should also enhance and complement existing products on Sentosa and contribute to the buzz and vibrancy of upcoming activities and attractions there.

Evaluation Criteria

Proposals for the IR on Sentosa will be evaluated on the four key criteria as outlined below, with the approximate weights as indicated:

a) Tourism Appeal and Contribution (45%)
b) Architectural, Design and Concept Excellence (25%)
c) Level of Development Investment Committed (20%)
d) Strength of the Consortium and Partners (10%)

The weights reflect the desired outcomes for the IR on Sentosa as an iconic tourism development within the resort ambience of Sentosa.

Land Price

In order to maximise the overall economic benefit to Singapore, the fixed land price approach that was used for the IR at Marina Bay has been adopted for the IR on Sentosa. This will allow the proposers to focus on developing the best concepts and enable the government to evaluate and select the proposals based on the four evaluation criteria.

The land price for the Sentosa IR site is Sin$605 million. The price was derived by the same team of professional valuers who did the valuation for the IR at Marina Bay, comprising Knight Frank (Singapore) and CB Richard Ellis (Las Vegas).

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