The company which sent the first private citizens into space – Space Adventures – is set to invest a total of US$265m (£152m, 222m euro) in two new spaceports based in Singapore and the United Arab Emirates (UAE).

Spaceport Singapore is expected to be completed by 2009 at an estimated cost of US$115m (£66m, 97m euro), which will be partially funded by the private sector and Singapore sources, together with Space Adventures’ global spaceport development partner, Sheikh Saud Bin Saqr Al Qasimi of the UAE.

Sheikh Saud Bin Saqr Al Qasimi has already committed US$30m (£17m, 25m euro) to the UAE spaceport, which has been granted suborbital flight clearance in UAE air space by the Department of Civil Aviation.

The flights will take place on a Russian suborbital space transporter called the Explorer, which will be able to carry up to five people into space and comprises a flight-operational carrier aircraft – the M-55X – and a rocket spacecraft. As each suborbital vehicle reaches 100km (62 miles), passengers will experience up to five minutes of continuous weightlessness.

Space Adventures will be competing directly against Richard Branson’s Virgin Galactic, which is also building a spaceport, near Roswell in New Mexico.

One hundred people have already booked a Virgin Galactic space flight for US$200,000 (£115,000, 168,000 euro) per person, even though the spacecraft has yet to be built.

In comparison, 200 people have paid deposits for the US$102,000 (£58,500, 85,500 euro) space flights at Space Adventures’ Singapore base.

Both companies are expecting to launch their space flights in 2008, although Space Adventures has already sold a Chinese businessman a 2007 suborbital flight.

Space Adventures will also offer a wide range of space and high-altitude experiences, which will include G-force training in a centrifuge, simulated space walks in a neutral buoyancy tank and parabolic flights which allow passengers to experience weightlessness at US$4,000 (£2,300, 3,350 euro) per head.

Visitors will also have the opportunity to fly in a variety of jet aircraft, experience flight simulators and interactive exhibits and learn about the history and technology of space travel at the Singapore centre.

Michael Lyon, managing director of the Spaceport Singapore project, said: “We have met with the relevant agencies, including the Civil Aviation Authority of Singapore, to begin the process of obtaining the necessary approvals. We are happy that they have been very supportive and have given their commitment to working closely with the consortium to introduce jet fighter, zero-gravity and suborbital spaceflights to the public.”

The Singapore Tourism Board has facilitated technical discussions with other agencies required for the project and has bridged negotiations over possible land sites.

Lim Neo Chian, chief executive of the Singapore Tourism Board, said: “Pending the anticipated finalisation of funds in the near future, we are optimistic that Spaceport Singapore will quickly become a reality. The Spaceport's integrated training, educational and entertainment facilities will open up many exciting experiences for both locals and tourists.”

Designer Myasishchev Design Bureau – a leading Russian aerospace developer of high-performance aircraft and space systems – plans to complete the manufacture of a fleet of space vehicles in the near future in co-operation with Prodea, a private investment firm.

Space Adventures and Virgin Galactic are headquartered at Arlington and New Mexico, respectively, in the US. Details: www.spaceadventures.com and www.virgingalactic.com

Photograph: Artist's impression of the UAE spaceport