MANILA (UPDATE) - The iconic 37-meter Merlion statue in Singapore's Sentosa will soon be demolished to make way for a new development on the island, the Straits Times has reported.

The report said the iconic structure would be demolished to make way for the S$90-million Sentosa Sensoryscape project.

Sentosa Development Corporation clarified that the demolition date of the Sentosa Merlion was "not confirmed" but the last day of operations is on October 20.

"Construction works in the area will begin by Q4 2019, and the date of demolition depends on the construction plans which are still being finalized," the Sentosa Development Corporation told ABS-CBN News in an email.

The Sentosa Merlion is bigger than Singapore's known landmark, the Merlion statue located at the Merlion Park, which stands at only 8.6 meters. Built in 1995, the Sentosa Merlion is the largest and tallest Merlion in Singapore.

The Sentosa Sensoryscape project will create a themed thoroughfare that will link Sentosa and Pulau Brani.

The Sentosa-Brani Master Plan was first announced by Prime Minister Lee Hsien Loong in August during his National Day Rally speech.

More details of the project were revealed to Singapore media last Sept. 20.

The project, which will connect Resorts World Sentosa to the beaches in the south of the city-state, will start by end of the year and is targeted for completion by 2022.

Sentosa Development Corporation, who is in charge of the project, said features such as look-out points, water features and other architectural elements would also create a multi-sensory experience for visitors.

The two islands will be divided into five zones, with hotels, large-scale attractions, dining and retail outlets, as well as green spaces.