Top News Singapore to host Formula 1 Grand Prix until 2028 By TTG Asia / Posted on 27 January, 2022 18:30 Singapore has signed a contract to continue hosting the Formula 1 Singapore Grand Prix for another seven years, from 2022 to 2028, announced the Singapore Tourism Board (STB) and race promoter Singapore GP (SGP) on Thursday (January 27). This is the fourth contract renewal for Singapore, and the seven-year extension is the longest for the race to date. Singapore Grand Prix will return this year, after it was cancelled for two years due to the pandemic “This will give Singapore a longer runway to capture pent-up demand as international travel recovers. It also allows STB, SGP and industry partners to develop new experiences to meet the evolving interests of locals and visitors,” said STB and SGP in a joint statement. The event is set to return to the Marina Bay Street Circuit this September, after two consecutive years of cancellations due to the pandemic. S Iswaran, minister for transport & minister-in-charge of trade relations, said: “Even as we deal with the immediate challenges of the pandemic, it is important that we focus on our recovery and long-term growth. The Singapore F1 race continues to be a strong focal point for tourists, global events and business meetings. “We have decided to continue hosting the F1 race for another seven years, after thoroughly evaluating the long-term benefits that a term extension could bring to Singapore. The renewal will help sustain Singapore’s reputation as a global city with a vibrant lifestyle, attracting international visitors as travel rebounds, and generating business revenue and jobs for Singaporeans.” Starting this year, STB and SGP will work together to reduce the carbon footprint of the Singapore race and foster the transition to more sustainable business models. Initiatives include switching to renewable energy sources, increasing recycling efforts and switching to sustainable materials. Formula 1 is also exploring maximising logistics and travel efficiency through process and volume optimisation and by using the least carbon intensive transport available. A full sustainability audit will be undertaken, which will guide the development of other green initiatives that will be implemented for the rest of the new term.