Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Singapore's airport goes for retail high with billion-dollar mall

Published 11/04/2019, 12:47
Updated 11/04/2019, 12:47
© Reuters. The 40-metre high Rain Vortex, which is the world's tallest indoor waterfall, is seen from inside Jewel Changi Airport in Singapore

SINGAPORE (Reuters) - A sprawling retail complex with the world's tallest indoor waterfall is what Singapore hopes will bring more travellers and visitors to the airport to shop and dine.

As global competition for travellers heats up in the aviation industry, Singapore's Changi Airport is set to open its S$1.7 billion (960.32 million pounds) Jewel complex on April 17.

"(We want to) provide a wide range of amenities that allows the passenger to make the best use of their time as they transit through us," Jayson Goh, managing director, airport operations management at Changi, told a news conference. The airport also aims to attract domestic visitors and tourists to its shops, cinemas and food and beverage outlets.

Housed under a dome of glass and steel, the building spread over 135,700 square metres is designed by Moshe Safdie, the architect known for the Marina Bay Sands resort, a boat-shaped landmark that has become synonymous with Singapore's skyline.

Changi Airport, recently voted in a Skytrax survey as the world's best for the seventh year running, reported a record 65.6 million passenger movements in 2018.

Sharon Ng, who teaches marketing at Nanyang Technological University's business school, said the concept was unique as other airports mainly target travellers and don't have the scale of retail that Jewel does.

A joint venture between Changi Airport and Singapore developer CapitaLand, Jewel adds 53,600 square meters of retail space in the wealthy city-state.

Scores of visitors lined up on Thursday at the pre-opening for a glimpse of the Rain Vortex, a 40-metre tall waterfall that pours rainwater from the centre of the glass and steel dome.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.