This project is part of the Singapore government’s exciting plans to develop a ‘second downtown’ in the Marina South vicinity to boost tourism. The project will comprise a Giant Observatory Wheel (“The Singapore Flyer”) of about 178 meters in height, comprising 28 passenger capsules, making it the world’s largest moving stationary project! The Singapore Flyer will also comprise a 3-Storey terminal building with retail shops and F&B outlets; and a carpark complex with about 300 parking spaces, together with on site parking for 40 tour buses. Offering spectacular views of Singapore, the Singapore Flyer will undoubtedly become one of Asia’s most iconic and recognizable visitor attractions.

This is a unique project with strong support from the Singapore Government as evidenced by Singapore Tourism Board (“STB”) being the landlord of the land leased to SFPL. The project company has also been granted ‘Pioneer Status’ by the Economic Development Board of Singapore.

The Singapore Flyer is a key part of the Singapore Government’s blueprint to develop the new Downtown Marina Bay and Marina Boulevard area into a world class, work, live and play destination.

The construction period is estimated to be 30 months and SFPL has a turnkey contract with Mitsubishi Heavy Industries and Takenaka Corporation, to execute construction. The sales, marketing and ticket distribution of the Singapore Flyer is contracted to Adval Brand Group Pte Ltd, an associate of NTUC Club. The leasing and management of the retail area in the building will be contracted to Jones Lang LaSalle’s Singapore office.

HVB Singapore acted as the Financial Advisor for SFPL, Structurer and Lead Manager for the structured finance facility and will be the Lead Underwriter for the subsequent ticket receivables securitization in the future. The transaction has enabled SFPL to achieve its primary objectives of:

• Secured long-term financing without currency or interest rate exposure;
• A single integrated solution for a complicated quasi real estate/amusement park property;
• An attractive all-in-cost.

HVB has been in Asia for 30 years and in Singapore for just over 10 years. Our Singapore branch office is our Asia Pacific Headquarters. HVB provides first class financial products focusing on areas such as structured finance and securitization, corporate advisory, project finance, structured product, trade finance and acquisition finance.

HypoVereinsbank Group enjoys a leading position in the economic hub of Central and Eastern Europe, a market of some 160 million people. HVB is the second largest bank in Germany and Europe’s third largest bank by assets (EUR 770-780 billion). Our offices are located in all the world’s financial centers, with around 2,280 branches and a worldwide staff of more than 65,000 people.

HVC has fully licensed branches in Singapore (regional hub), Hong Kong and Tokyo, and offices in Beijing, Shanghai, Seoul, Hanoi, Mumbai, Taipei, Kuala Lumpur and Sydney.