S’pore starts work on F1 track after green light

SINGAPORE – Everyday brings Singapore a little closer to hosting the first Formula One street race in Asia, if not the world’s first night race.

This week, the Fédération Internationale de l’Automobile (FIA), via the Singapore Motor Sports Council, gave in-principle approval to the Singapore Grand Prix street circuit.

With the green light, construction can now begin and in the coming months, FIA will conduct a series of inspections on the progress. The full circuit licence will be granted during the final inspection, which will be in the week of the race itself.

The 5.067km long street circuit, consisting of 14 left hand turns and 10 right hand turns, offers a number of overtaking opportunities, challenging corners and gruelling sections that will test the true capabilities of the F1 drivers.

Slated to flag off on September 28, 2008, the F1 Singapore Grand Prix is the first Formula One street race in Asia and is one of three races in the 2008 F1 calendar to run anticlockwise.

Deputy Chairman of Singapore GP, Mr Colin Syn, commented, “After months of poring over the drawing board, we are now one step closer to our dream. However, there is no time to celebrate – it is now full speed ahead for us to get this race on the road.”

The only outstanding decision is whether the race will be held at night. Regardless, the circuit has already been billed by many as one of the most dramatic and atmospheric races on the calendar.

Hoteliers meanwhile are still playing their cards close to their chest, as far as rates are concerned. Under an agreement reached with the government, they have to quote a four-night minimum package.

In setting their rates, hoteliers have now to weigh several factors – how successful will this first event be, how long it took other Grand Prix cities to build up room rates, how long it took Monaco to achieve cult status and could being too opportunistic too soon kill the fatted calf?

From the time of the announcement that F1 would be coming to Singapore to now, one senses that extreme ebullience has given way to some hesitation over aggressively jacking up rates.

Hotels also have to take into consideration the 30% cess rate being applied to trackside hotels and 20% to non-trackside hotels.

“Remember this also applies to run-of-house business that is not Formula 1 related such as airline crews,” said one general manager.

Mr Lim Neo Chian, Deputy Chairman and Chief Executive at the Singapore Tourism Board, who chairs the F1 Working Committee, noted the project’s steady progress. “One year from now, F1 enthusiasts can look forward to experiencing the excitement of a unique street circuit in the heart of Singapore, which will take world-class drivers and their race machines past Singapore’s skyline, iconic city landmarks and tree-lined boulevards at thrilling speeds.”