Q1 2011 league tables: focus on social projects

Aided by the huge Resorts World at Sentosa refinancing in Singapore, the social infrastructure sector usurped the traditional dominance of energy and transport in Infrastructure Investor’s global league tables for the first quarter of this year.

Social infrastructure was the sector which saw the most infrastructure investment globally in the first quarter of 2011, according to InfrastructureInvestor Assets (www.iiassets.com).

By far the largest project during this period was the $4.7 billion refinancing of one of two integrated resorts on Singapore’s Sentosa island, which achieved financial close in February. The resort includes hotels, casinos, ballrooms, conference centres and theme parks.

Of the ten largest infrastructure projects during Q1 2011, four were social infrastructure deals. They included two Canadian projects: the $880 million Communications Security Establishment (CSEC) long-term accomodation project; and the $854 million St Josephs Regional mental health project. The UK saw financial close of the $801 million Bournemouth Town Centre Vision (LABV) scheme, a redevelopment project for the English south coast resort.

In all, more than $8.9 billion of social infrastructure deals were recorded in the first quarter, accounting for an overall market share of more than 30 percent. Energy came next with more than $7.1 billion of deals and transport third with just over $6.0 billion.

In the whole of 2010 – more or less in keeping with previous years – energy accounted for more than 40 percent of all infrastructure projects globally and transport more than 21 percent. Social infrastructure was fourth with a share of just over 11 percent, behind renewables in third with almost 16 percent.