The Max Astria is the latest addition to the Singapore Expo, which is growing at a rate of around 20% per year in terms of events, with the MICE area subject to increasing rates of growth.
Since the official opening of the government-owned Singapore Expo complex in 1999, growth has been steady and it has become one of the largest and most equipped centers in the whole of Asia. Ten large multipurpose halls have been joined by ten conference halls to create a huge center for a number of exhibitions and conventions. There is also a large amount of parking space, which could be used as outdoor exhibition space if need be. With a dip in 2009 for obvious reasons, the center has been growing impressively year-by-year.
Meetings, Incentives, Conventions and Exhibitions, or MICE, are at the center of the activities of the complex and are expected to be up 10% in 2011 on last year. Indeed, the number of events has been growing steadily by a rate of almost 20% even if the revenue has not been as high as in previous years.
The latest addition to the building is the Max Astria, an 8,000 square meter addition aimed at hosting cocktail receptions and special events. The Max Astria has 23 meeting rooms and function areas, which are expected to bring a quick return on the original $55 million investment. This particular project is just one of many planned additions to the Singapore Expo in the years to come. Based on current growth, further similar projects should be approved.