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17 September 2017, 03:51 | Henrietta Morgan
GETTYSingapore Grand Prix FP1 results
The new deal removes that doubt and also secures Formula One's future in the region.
Chase Carey, the chairman and CEO of Formula One, said the race was "a signature" of the World Championship calendar - and one of its most "thrilling events".
When asked whether Singapore had come away with a cheaper deal, Carey and Iswaran declined to comment on details.
Iswaran said the decision by Malaysia, which will hold its last grand prix in two weeks' time, had no bearing on Singapore's move to stay in Formula One.
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Williams Martini Racing driver Felipe Massa is hoping to pick up a much-needed strong result for the Grove based squad at the Singapore Grand Prix this weekend, with the British team having so far not performed up to their expectations across the 2017 season.
"While I am sure Singapore as a place to visit is really cool, the temperature when we race there will be the exact opposite and the conditions will be hot and humid", he adds.
"The Singapore Grand Prix, the Singapore Tourism Board and the Singapore Government have all done an excellent job of making this an event that involves the whole city".
"I like the looks of the track from what I have seen and certainly it appears to be very technical".
Cars drive around a floodlit street circuit through the heart of Singapore against a backdrop of glittering skyscrapers while spectators are entertained by headline music acts.
"I'm very glad that all the parties concerned have been able to agree on commercial terms for an extension as Formula One and, I believe, Singapore have been good for each other", Minister for Trade and Industry S. Iswaran told reporters at the Marina Bay street circuit.
From next year, Singapore will be the sole stop that Formula One makes in Southeast Asia, as next month's Malaysian Grand Prix is to be the last.
With this year's race taking place on Sunday, the event could have received no better boost than confirmation it will continue until at least 2021.
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