Why was Singapore willing to spend S$1.3 billion to build Jewel Changi Airport?
According to Business Insider, it costs S$1.3billion to build Jewel Changi. Many critics have pointed out that there are many other ways to use that amount of money to improve Singapore's economy instead. So why did Singapore choose to spend so much on Jewel?
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As a taxpayer and Singaporean, the benefits to Singapore’s reputation, image and economy in the long run far outweigh the costs.
I give my 100% support. Thank you, PAP for your foresight and bold move.
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The same reason some people pay thousands of dollar for AMEX black card - status.
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To generate retail revenue for the Airport so that airport related fees such as landing fee, security fee can be competitive. This will attract more airlines to consider Singapore as a base and thus, bringing more travellers in to Singapore and in turn, boosting our tourism sector
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Because it rather make the foreign tourists smile than our poor old, thin and hunch-back folks picki...
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Mostly brilliant answers listed below.... and rightly pointed out for the strategic reasons involved. but I think the question should be better rephrased as "Why did Changi Airport Group & Capitaland deem fit to spend $1.3 billion to build Jewel Changi Airport?"
Because " Co-developers Changi Airport Group (CAG) and CapitaMallsAsia (CMA) said yesterday that they have struck a joint venture agreement via their respective wholly-owned subsidiaries, Jewel Changi Airport Holding and CMA Singapore Investments (6), and will set up a private trust, a trustee-manager and a property manager as the JV entities.
CAG will hold the majority stake of 51 per cent, while CMA will hold the balance 49 per cent that it will bankroll through internal funds and external borrowings, CMA said in a release to the Singapore Exchange."
source: https://www.businesstimes.com.sg/companies-mark...
So to put things into perspective, 2 private companies coming up with their own private money to build public infrastructure for all to enjoy...and also create a Singapore iconic landmark that the world talks about and elevates Singapore's PR and brings tourism dollars to the country....technically, no public should care and feel as though that Jewel owes them a cent of their taxpayers money. Just because the govt takes a chance to claim some credit, (because permission to build still has to come from SLA), doesn't inherently mean that TAX payers monies were used in any way. I think this needs to be emphasized so that Singaporeans can stop ranting like entitled beings.