Most probably you didn't take public finance.
No wonder Singaporeans like you could tolerate PAP's govt-business model! Or rather, I would say PAP has successfully sold the idea of "corporate=government" so much so that people no longer understand what public goods are. Well, if by ROI, no roads would be built without ERP gantries... wait, is that why we have so many ERP gantries along the new express way?
As I have said, such model is NOT NEW and it existed elsewhere in the world. The nearest is Hong Kong. Do you really think you could be smarter than Hong Kongers in calculating ROI? Hong Kong is not even a country and face no potential adverse "foreign relationshop" that may jeopardize water supply but yet they find the need or rather, necessity to to build non-portable water system for toilet flushing!
It is ok if you just think that Singapore has the best model in having more costly New Water as raw water supplement. Yes, just RAW WATER SUPPLEMENT. That is of course, good ROI for you but definitely not for me.
Construction of alternative piping system could just start from new Town development. Old flats will bound to be redeveloped in time to come. It is a long term plan that could be implemented by stages. The key is whether you understand the need for alternative water conservation strategy at this stage.
Goh Meng Seng