SINGAPORE : Singapore has won the right to host a Formula One Grand Prix next year, an official said Friday.

The race will be held either in September or early October on a street circuit around the downtown Marina Bay district, Minister of State for Trade and Industry S. Iswaran told a news briefing.

He said it could "potentially" be the world's first night race, but organisers are still looking at safety issues.

"Safety is of paramount importance to all of us. Therefore we will proceed with a night race only if the safety and operational requirements of all parties... are fully met," he said.

"If not we will revert to a day race."

Singapore has an option to host for a further five years and expects annual tourism receipts from the event of about S$100 million.

Formula One head Bernie Ecclestone had earlier met property tycoon Ong Beng Seng to discuss the possibility of holding the race in the Republic.

Singapore is keen to host an F1 race and the government had given its blessing to the negotiations between Mr Ong and Mr Ecclestone.

However financial and logistical hurdles have recently slowed progress on a deal.

The government said it was "willing to support such a venture up to a level commensurate with the broader benefits to the economy".

Aside from the costs, the task of working out logistics, particularly maximising public safety and minimising disruptions to local businesses in the area earmarked for the race, was also proving to be a challenge.

A senior member of Mr Ong's team has previously said a decision needed to be made by April this year if they were to be ready for a 2008 race. - CNA/ch