More than S$27.5 billion has been invested so far in the new business and financial district in Marina Bay and the government is planning to pump in a further S$1 billion in infrastructure works there over the next 10 to 15 years.
Singapore’s National Development Minister Mah Bow Tan announced this at the topping out ceremony for the construction of the Marina Bay Financial Centre on Wednesday morning.
He also said there are some signs of speculation in the recent frenzy in the property market.
The government announced in April that Marina Bay had attracted total investments of over S$22 billion of which S$5.7 billion was from the government, and S$16.5 billion was from the private sector.
And just three months later, that figure, which includes government and private sector investments, has risen to over S$27.5 billion. Continue reading
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