Singapore Billionaire To Build F1 Race Track City Bordering Singapore
Singapore billionaire Peter Lim said he "plans to build a motorsports-themed development," including a F1-compliant racing test track, in Malaysia’s southern-most state bordering Singapore, according to Barry Porter of BLOOMBERG. Lim’s FASTrack Autosports Pte will take a 70% stake in the joint venture valued at more than R3.5B ($1.2B) in the Iskandar development region of Johor state, with Malaysian developer UEM Land Holdings "holding the rest." The project, known as Motorsports City, will cover 270 acres and include "showrooms, garages and entertainment outlets." In a statement, Lim said, "The region is fast becoming a hub for motor sports." Lim, who made his fortune through holdings in palm oil producers and a chain of ManU cafes in Asia, is also a shareholder of McLaren Automotive. The tracks would be a five-minute drive from Tuas Second Link, one of two border crossings between Malaysia and Singapore. Motorsports City will offer "race-track driving lessons, storage for car collections and act as a spare-parts hub" (BLOOMBERG, 12/4). AUTO SPORT's Sam Tremayne noted Lim said that a 4.5k test track, to be conceived by an as-yet unnamed designer, "will be part of a motorsports-themed development." Malaysia already has a permanent grand prix track in Sepang, which has hosted 14 F1 grand prixs since first being included on the calendar in '99 (AUTO SPORT, 12/4).