Singapore to fork out billions for Changi airport upgrades
19 February, 2025
Singapore will pour an additional $3.7 billion into upgrades at Changi airport, including a long-awaited fifth terminal, as the nation seeks to maintain its position as a top global aviation hub.
Singapore is investing $3.7 billion in Changi Airport upgrades 2025, focusing on the long-awaited Terminal 5 Changi Airport construction to boost capacity by over 50%. This move strengthens the nation's position in Singapore aviation hub expansion amid rising global competition.
Prime Minister Lawrence Wong on Tuesday announced the fresh infusion while presenting the city-state's 2025 budget, which also included a wide range of cash incentives for locals ahead of elections later this year.
Serving in a dual role as finance minister, Wong said part of the funds will be used to construct a fifth terminal at the airport, which saw around 67.7 million passengers pass through its gates last year. "When completed, Terminal 5 will expand our airport's capacity by more than 50 percent and will ensure that Singapore remains a critical gateway for global travel and trade," he said.
The fresh top-up of Sg$5 billion (U.S.$3.7 billion) to the Changi Airport Development Fund will "ensure sufficient resources to develop our air hub", added Wong.
Terminal 5 was first proposed in 2013 and construction is expected to go ahead later this year, following pandemic delays, officials said.
The new terminal is expected to be operational in the mid-2030s.
Singapore's Changi has been consistently ranked as among the best airports in the world, but it has faced challenges from other hubs like Doha and Seoul.
It is one of the largest transit hubs in Asia with more than 100 airlines operating from the airport.
The government put Sg$3 billion in its airport development fund in 2015 when it was set up, adding Sg$1 billion in 2016, and Sg$2 billion in 2023, according to local media.
Source: japantoday.com