The commencement of the expansion plan, which includes MBS' fourth tower, was already pushed back last year due to the issues caused by the COVID-19 pandemic.
SINGAPORE: Marina Bay Sands is unlikely to begin construction of its S$4.5 billion project in April 2023 as planned, according to a filing by parent company Las Vegas Sands to the United States Securities and Exchange Commission on Feb 3.
According to a SEC filing dated Mar 30 last year, MBS has until Apr 8, 2023 to"commence construction" on the plans defined in the Second Development agreement it signed with the STB in April 2019. "We are in discussions with the Singapore government on the duration of the timeline extension for commencement and completion of the expansion of Marina Bay Sands to fulfil our obligations," said the American casino and resort company.
LVS added that construction projects are subject to cost overruns and delays caused by events outside of their control such as shortages of materials, skills labour, unforeseen engineering and more.The company's late chairman and CEO Sheldon G. Anderson said in 2019 that the new MBS development would help grow overall tourism to Singapore, continue to create good jobs for Singaporeans and give a boost to local companies.
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