It's a 21-year contract ending in 2034.
Lim Wee Hann, Terence Quek and Khoi Nguyen acted for Singapore Food Industries Pte Ltd (a subsidiary of SATS Ltd) and Delaware North Companies Pty Ltd (Australian arm of the Delaware North Companies group), which set up a joint venture company to enter into a 21-year contract with Singapore Sports Hub to operate premium restaurants, F&B outlets and a central kitchen at the upcoming integrated multi-purpose stadium and aquatic arena at Kallang.
Singapore Sports Hub is Singapore's largest flagship public-private partnership ("PPP") project and the largest sports facility infrastructure PPP project in the world. The deal involved Singapore Sports Council, its lenders and six other sub-contractors.
The expected revenue over the life of the contract is over S$1 billion, with the joint venture raking in an estimated S$50 million per year once it reaches its steady state of operations.
Delaware North Companies is one of the largest privately held hospitality companies in the world, has nearly 100 years of history and provides catering and hospitality services to major sports venues such as London's Wembley Stadium, Melbourne Park, Arsenal's Emirates Stadium and the New York Giants' MetLife Stadium.
Singapore Food Industries Pte Ltd is the catering services arm of SATS Ltd, one of the leading providers of gateway services and food solutions in the region.
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