Singapore
Casino Tender Launches Soon
As reported by Dow Jones: "After
two delays, Singapore Friday said it will launch
the formal requests for proposals for a casino
resort at Marina Bay near the city center on
Nov. 15, with a submission deadline of March
29, 2006.
"The
government also fixed the price of the 20.6
hectare waterfront site at S$1.2 billion (US$705
million), which was the price recommended by
independent valuers.
"The
selection of the successful bidder will be based
on the quality of the proposals received, as
a conventional tender based on the highest land
price won't completely capture the 'external
economic benefits,' Minister of Trade &
Industry Lim Hng Kiang said at a press briefing.
"…The
successful bidder for the Marina Bay casino
resort will be selected by the middle of next
year, and both resorts are expected to be operational
in the next four to five years, the government
said…"
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