Singapore's Suntec to Receive Upgrades in 2012
A total of US$326 million will be spent on upgrades to the Suntec Singapore International Convention and Exhibition Centre (Suntec Singapore) and Suntec City Mall. Funded by ARA Trust Management, the managers of Suntec Real Estate Investment Trust, a US$142 million of the total sum will be allocated to Suntec Singapore. Upgrades planned for the 16-year-old venue will begin in June 2012, and include a two-storey interactive digital wall, a modernised façade and “a slight increase in meetings spaces.”
More than 18,000 events have been hosted at Suntec Singapore since its inception. According to management of the MICE venue, the upgrades will be completed in phases to minimise disruptions to events before adding that the renovations are not in response to increasing competition from other MICE venues in Singapore. Rental rates will reportedly remain flat when upgrades are completed by 2015.
Meanwhile, upgrades to neighbouring Suntec City Mall will reportedly include additional rentable retail space that will feature more F&B and retail outlets and public outdoor space.
Suntec Singapore’s CEO, Pieter Idenburg said, “The building has served us extremely well. Suntec Singapore has played a major role in advancing the MICE industry in Singapore and being established as a premier MICE destination. With the implementation of these planned enhancements, we will be well placed to meet the changing needs of our customers and to ensure that our business partners at all points of the supply chain have a fantastic experience and will enjoy the finest of our offerings – well into the next decade.”