SINGAPORE: Formula One motor-racing action may boost the value of residential and commercial properties around the Marina Bay area.

SINGAPORE: Formula One motor-racing action may boost the value of residential and commercial properties around the Marina Bay area.


According to some analysts, the premium comes with being close to possibly the first-ever night street circuit in F1 history.


Many of today's Formula One race tracks are built far away from the city area, and only a handful of them have their circuits right in the heart of the city.


Analysts said history shows that properties near such circuits have enjoyed a premium in being close to the F1 action.


Mark Gallagher, International Motorsports Consultant, Eden Rock Sports, UK, said: "The more prestige areas close to the track also benefited because people aspire to live near the Grand Prix track and it became a big talking point. Now when people move to Melbourne, the first thing they ask is how far the location is from the Grand Prix track."


Singapore is set to chart a new course in F1 history with a circuit that boasts the city skyline as a background.


Properties aside, businesses in the area are also expected to get a boost.


But analysts said it may take one or two years for Singapore businesses to maximise their leverage from the Grand Prix race.


Mr Gallagher said: "First of all, there'll be different levels of corporate hospitality that they can buy into. You can run Grand Prix-style promotions in your businesses. There's nothing to stop you from doing that. If you're careful with the intellectual property of Formula One, you can still run promotions and activities."


The F1 event in Singapore will take place on 28 September next year. It is expected to bring in about 80,000 tourists.