Singapore builder and Hehe Company won the main construction contract for the Marina Bay Sands expansion project | Lianhe Zaobao

Local time-honored construction company Woh Hup has secured a contract worth billions of dollars to become the main contractor for the expansion project of Marina Bay Sands. The owner of this integrated resort, Las Vegas Sands Corp, along with Marina Bay Sands, stated in a joint announcement from Singapore on Friday (March 20) that the comprehensive bidding process attracted several major construction companies in the region, ultimately awarded to Woh Hup. They did not disclose the specific amount of this construction contract. The total development cost of the Marina Bay Sands expansion project is as high as USD 8 billion (approximately SGD 10.23 billion), nearly 50% higher than the USD 5.6 billion invested in the existing facilities of Marina Bay Sands 15 years ago, and more than double the USD 3.3 billion originally estimated when the expansion plan was announced in 2019. The announcement noted that Marina Bay Sands is expected to achieve its best performance record in 2025, welcoming over 36 million visitors and hosting more than 2,000 exhibitions and events, contributing an estimated 1.2% to Singapore's GDP. The company is projected to generate SGD 2.64 billion in commercial spending in 2025, which is operating expenses (excluding depreciation and amortization), with 90.8% of procurement directed towards local Singaporean businesses. It is also one of the largest employers in the region, employing over 12,000 staff. According to previous reports, Marina Bay Sands' adjusted EBITDA surged 42% last year to USD 2.922 billion (approximately SGD 3.738 billion), with revenue rising 32% to USD 5.590 billion. Further Reading Marina Bay Sands' performance "historically outstanding" Sentosa Resorts World expected to recover lost ground Marina Bay Sands' revenue in the last quarter rose 41% to a record high of SGD 2 billion The announcement on Friday also revealed that the expansion project has commenced, with approximately 5,000 workers on site working around the clock, and it is expected to be completed by 2030. If the Singapore government approval is obtained smoothly, it will open in 2031. The new facilities include hotels, casinos, entertainment, and convention facilities. The announcement stated: "This project marks an important step in Las Vegas Sands' long-term investment in Singapore and demonstrates its commitment to partnering with trusted collaborators to create landmark projects." The main contractor for the existing Marina Bay Sands building was South Korea's Ssangyong Engineering & Construction. Patrick Dumont, Chairman and Chief Operating Officer of Las Vegas Sands, stated that this appointment and collaboration as the main contractor for the Marina Bay Sands expansion project reflects the company's commitment to ensuring that Singaporean businesses continue to benefit from the company's long-term development, creating more opportunities for local industries and the overall economy