Singapore to host F1 Grand Prix next yearSINGAPORE : Singapore has won the right to host the Formula One Grand Prix for five years starting next year, an official said on Friday.
The first race will be held either in September or early October on a street circuit around the downtown Marina Bay district, Minister of State for Trade and Industry S Iswaran told a news briefing.
Iswaran said it could "potentially" be the world's first night race, but organisers are still looking at safety issues.
"Safety is of paramount importance to all of us. Therefore we will proceed with a night race only if the safety and operational requirements of all parties... are fully met," he said.
"If not we will revert to a day race format."
Iswaran said Singapore GP Pte Ltd, a company controlled by hotel tycoon Ong Beng Seng, has secured the rights for five years starting in 2008, with the option of renewing it for another five years.
He said the Singapore Tourism Board had evaluated the event and deemed it "worthy" of the government's support.
Iswaran said hosting an F1 race will bring Singapore "a step closer" to its ambition of becoming a "vibrant global city," adding that the race is estimated to generate about S$100 million (US$66 million) a year in incremental receipts.
Singapore, a regional financial centre, is set to open its first integrated resort being built by Las Vegas Sands in 2011.
The F1 race will be on a 4.8-kilometre (three-mile) street route in downtown Singapore proposed by designer Hermann Tilke.
Monaco already hosts a street race and Spain's Valencia will also hold the Grand Prix on an urban circuit from next year.
Formula One organisers have made clear their intention to stage night races to boost TV audiences in different time zones, but drivers have raised concerns over safety. - AFP/ms
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