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27-11-2021, 11:02 AM
Low Lin Fhoong
Assistant Sports Editor
PUBLISHED NOV 26, 2021, 5:37 PM SGT
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Property experts and insiders noted that with the high costs of land here, building a facility would require a huge financial outlay, with one calling the project "quite incredible" for a private outfit like the Sailors to undertake.
Nicholas Mak, ERA Realty's head of research and consultancy, told ST that the stadium would cost "at least $100 million".
"In terms of financial feasibility, they are not Manchester City, Barcelona or Milan and don't have wide coverage or a huge customer base," he said.
"The reason why the Government is building (sports facilities) is they may not even break even. The Government does it because it is part of infrastructure plans, for people's health and well-being.
"It's quite incredible for someone to buy the land and build your own stadium."
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Former Singapore Sports Hub chief executive officer Oon Jin Teik ...... said: "It'll take $200 million to $300 million to build a 40,000-seater stadium, excluding land cost. If you build a 40,000-seater stadium, it's less probable you can fill it. If money is no issue, you can sit on it but if money is important, the mixed use development plans and content are important."
Lee Sze Teck, senior director (research) of real estate agency Huttons Asia noted that the stadium would need to be "multiple usage like supporting leisure and commercial space" to be viable.
He added: "Things that come to mind will be a sports school to nurture talents, a gym, destination mall. There can even be a sports-themed hotel. All these complementary uses will keep the stadium commercially viable and vibrant on non-match days.
"To host Fifa international matches, the stadium needs to have a minimum seating capacity of 40,000. Depending on the eventual usage, the estimated land required might be between 15 and 20 hectares. It could easily cost $1 billion."
More info at: https://www.straitstimes.com/sport/footb...ay-experts
......
Assistant Sports Editor
PUBLISHED NOV 26, 2021, 5:37 PM SGT
......
Property experts and insiders noted that with the high costs of land here, building a facility would require a huge financial outlay, with one calling the project "quite incredible" for a private outfit like the Sailors to undertake.
Nicholas Mak, ERA Realty's head of research and consultancy, told ST that the stadium would cost "at least $100 million".
"In terms of financial feasibility, they are not Manchester City, Barcelona or Milan and don't have wide coverage or a huge customer base," he said.
"The reason why the Government is building (sports facilities) is they may not even break even. The Government does it because it is part of infrastructure plans, for people's health and well-being.
"It's quite incredible for someone to buy the land and build your own stadium."
......
Former Singapore Sports Hub chief executive officer Oon Jin Teik ...... said: "It'll take $200 million to $300 million to build a 40,000-seater stadium, excluding land cost. If you build a 40,000-seater stadium, it's less probable you can fill it. If money is no issue, you can sit on it but if money is important, the mixed use development plans and content are important."
Lee Sze Teck, senior director (research) of real estate agency Huttons Asia noted that the stadium would need to be "multiple usage like supporting leisure and commercial space" to be viable.
He added: "Things that come to mind will be a sports school to nurture talents, a gym, destination mall. There can even be a sports-themed hotel. All these complementary uses will keep the stadium commercially viable and vibrant on non-match days.
"To host Fifa international matches, the stadium needs to have a minimum seating capacity of 40,000. Depending on the eventual usage, the estimated land required might be between 15 and 20 hectares. It could easily cost $1 billion."
More info at: https://www.straitstimes.com/sport/footb...ay-experts
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