Changi Airport Soars with $3.7B in Construction Deals: Asia's Real Estate Buzz Takes Off!

Singapore's Changi Airport Group awarded two huge deals worth S$4.8 billion ($3.7 billion) to construct the substructure and airside facilities for its signature Terminal 5 scheme, a record achievement in the city-state's airport and property development. The S$3.8 billion substructure contract goes to a joint venture between Obayashi Singapore and China Communications Construction Co. for the foundation and basements of the new terminal and ground transport center-extending over 140 hectares with basements as deep as 28 meters. Hwa Seng Builder secured the airside contract for remote aircraft stands and taxiways. Terminal 5, which will handle 50 million passengers annually, will be initiated mid-2025 and is part of the larger Changi East development.

 

Source: Forbes, Mingtiandi, Business Times