Updates on Singapore Sports Hub Takeover and Plans Following Takeover
- The transition from Sports Hub Pte Ltd to the Government was completed smoothly on 9 December 2022, with due diligence ongoing and a termination sum of $1.4 billion, about $0.1 billion lower than projected.
- The Government advanced the termination sum from the Contingencies Funds with the President’s concurrence, to be replaced via a Supplementary Supply Bill without drawing on past reserves.
- The new management has introduced community events like live performances, a Big Walk, and a Chinese New Year carnival, with plans for more school matches, open houses, and marquee sports and entertainment events.
- Developments in the Kallang Alive precinct, including the Kallang Football Hub and Tennis Centre, are on track for completion this year.
- The Sports Hub aims to become a vibrant community, sporting, and lifestyle space for all Singaporeans to enjoy.