Daily Archives: 8 Sep 2009

Changi Motorsports Hub proposals roll in

All three bidders have clearly different visions, despite putting in similar elements

Three visions of one dream were on display yesterday when parties vying to build and operate Changi Motorsports Hub (CMH) unveiled their proposals.

Guidelines issued by the Singapore Sports Council (SSC) for the 41 hectare site include a track of at least 3.5 km to be certified Grade 2 by the Federation Internationale de l’Automobile (FIA) and Grade 1 by the Federation Internationale de Motocyclisme (FIM).

All three bidders have incorporated elements such as retail, F&B, training academy, Go-Kart track and capacity for at least 30,000 spectators in their bids – but their visions clearly differ.

Singapore Agro Agricultural (SAA)’s 4.37km track will not only meet the FIA-2 and FIM-1 standards but has been designed so it could be extended for Formula One racing should the opportunity arise, SAA said.

The company, whose shareholder Tan Chee Beng is a director of Turf City Management, has also landed an agreement to bring in the hugely popular MotoGP, Formula Ford, Clio Cup and Asia GT races. Continue reading

UOL places top bid for Dakota Crescent site

UOL Group has placed the top bid for a 99-year leasehold condo plot at Dakota Crescent facing the Geylang River. Its bid of slightly over $329 million works out to $508 per square foot per plot ratio.

The tender, conducted by Urban Redevelopment Authority, closed at noon on Tuesday and attracted a total of 13 bids. The other developers that bid for the site included Frasers Centrepoint, MCL Land, Sim Lian Land and Lippo group.

Source : Business Times – 8 Sep 2009