Singapore to host F1 night race in 2008

Asia is stepping on the accelerator when it comes to Formula One. Now Singapore will host the first night race in Formula One's history, in 2008, reinforcing Formula One boss Bernie Ecclestone's commitment to make F1 popular in Asia.

Aiming at a more globalized race calendar, the addition of F1 in Singapore makes Asia get a bigger slice of what has become the world's most watched sporting spectacle after football. Singapore now has the rights to five years of Formula One racing in the island city-state.

"I am very pleased to welcome Singapore to the F1 family and we look forward to this exotic addition to the championship," said Ecclestone. Ecclestone retains the right to extend the race for another five years.

The aim is for the affluent city-state to hold the first ever night race in Formula One's 60-year history, around a street circuit to boot. However, there has been opposition from the likes of world champion Fernando Alonso citing safety fears. On the other hand, Felipe Massa and Kimi Raikkonen of Ferrari said that they are okay with night racing in Formula One as long as safety and visibility can be guaranteed. Things might get a little problematic if it rains at night, and some are worried that lights may not be strong enough for a night race. Not only do the drivers need very good lighting; the pits, the stands and the marshals all would require near-day-like lighting to operate well.

However, the plan to hold a night race is provisional. All options to conduct a safe night F1 race would be explored, but in case of any issue, the race would be held during the day instead.

Meanwhile, Ecclestone has said that night racing will begin when the inaugural Singapore Grand Prix is held in 2008, sometime between the months of September and October. This is expected to allow the Singapore event to reach out to F1 television audiences in Asia, Europe and the US.

Besides, Singapore also stands to gain immensely considering the fact the city-state would garner global recognition with a potential audience of 500 million people watching a race that will pass modern skyscrapers, colonial-era buildings and the country's Marina Bay waterfront. On the money front too, there are gains. The event is expected to generate huge sums of money, with an estimated US$100 million forecast in extra tourism revenues from an expected 80,000 fans, many of them from other parts of Asia. More will flow in through ticket sales, merchandising and sponsorship.

The announcement of Singapore being picked to be part of the Grand Prix circuit is in fact already showing its effects. Property and tourism-related industries have zoomed following this. Phat property majors such as Singapore Land, UOL Group and CDL hospitality REIT are seen as the biggest beneficiaries as Singapore wins the rights to host an F1 race for five years starting in 2008. Predictions are that as many as 100,000 tourists would visit Singapore during the race season.

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