Changi Airport to give tenants 50% rental rebates

The rebates will be available to over 500 retail and F&B stores.

Retail, food & beverage (F&B) and service concessionaires at Changi Airport will be offered a 50% rebate on their monthly Basic Rental (BR) for a six month period effective 1 February, an announcement revealed.

This is in addition to an automatic rental offset tied to passenger movements at Changi Airport that these concessionaires will receive as part of their tenancy agreements. There are over 400 retail and service stores, and more than 140 F&B outlets in Changi Airport’s four terminals.

Such relief measures fall under the Singapore Budget 2020 Stabilisation and Support Package (SSP) for the aviation sector. The Minister for Finance Heng Swee Keat announced that the Government, Civil Aviation Authority of Singapore (CAAS) and Changi Airport Group (CAG) will provide an Aviation Sector Assistance Package amounting to $112m to the airport community to help defray business costs and protect jobs. It includes a 15% property tax rebate.

Apart from the relief on rentals, CAG has also shortened the operating hours for its tenants in the transit area, including those previously operating round the clock. At the same time, tenants in the public areas will also be given the option to shorten their operating hours.

The group also mentioned that they will launch marketing and promotional initiatives to incentivise spending by visitors.