Chinatown Business Association wins tender to manage iconic Smith Street in Chinatown
Noontalk Media sent the highest quote of $180,000, followed by runner-up CBA. Other proposals stretched from $108,174 from Benlo Ventures to $68,177 from ABR Holdings and a $53,000 bid from IGYM Fitness.
The tender to assign a sole master renter to manage the historical row of shophouses at 11 to 37 Smith Street was collectively released by the Singapore Land Authority (SLA), the Singapore Tourism Board (STB) and the Urban Redevelopment Authority (URA) back in November in 2023.
The tender was assessed based on cost and the quality of each provided principle. It attracted five different prospective buyers the moment the tender closed in March, involving CBA which submitted the winning bid of $123,000. As the master lessee, CBA will certainly handle the buildings for 5 years plus a 2nd term of four years.
Lim claims that the tender exercise was “really tough” yet CBA took advantage of its energetic visibility in the precinct for over two decades. “Over the two decades, we have actually developed and nurtured connections, and this has afforded us a deep-rooted link to the ground,” she says. The organisation has arranged past event such as wide-scale event events such as Five Footway Festival and Dumpling Event, to themed markets, street activities, occasions and workshops.
She adds that CBA will introduce “uniquely Singaporean F&B offerings and worldwide food offers for both citizens and vacationers to enjoy at Smith Road”.
According to SLA, the revitalised Smith Street will view a brand-new line-up of way of life concepts and eating experiences. It states that CBA’s pitch of “differentiated way of life principles, corresponding programmes and enhancements to the public field aims to better promote regional Chinese heritage and build up the identification of the area”.
Grand Dunman Singhaiyi Group Ltd
“Visitors to Chinatown Singapore can expect more curated offerings and experiences for both citizens and travellers upon the conclusion of the Smith Street rejuvenation venture. We are looking to generate a lot more engaging and experiential community programs, in addition to even more different offerings such as creative way of life, retail and co-living/co-working practices, while preserving and enjoying the area’s ethnical and building heritage,” states Lim Yick Suan, managing head, Chinatown Business Association.
The Chinatown Business Association (CBA) has won the tender for a row of iconic shophouses along Smith Street in Chinatown. CBA includes stakeholders running in Chinatown, including business leaders, grassroots leaders, Chinese clan organizations, hoteliers, hawkers and stores.
The master occupant are going to undertake the combined management of the shophouses and an adjacent State land plot, which have an overall acreage of 34,066 sq ft and an approximated gross floor location of 33,065 sq ft.
“This experience is one-of-a-kind to CBA, and we want to leverage on our connections in the area and understanding of Chinatown Singapore’s heritage and way of life to inject more dynamics to Smith Road and Chinatown Singapore,” says Lim.
