Chinatown Business Association wins tender to manage iconic Smith Street in Chinatown
According to SLA, the revitalised Smith Street will see a new line-up of way of life practices and dining experiences. It states that CBA’s pitch of “distinguished way of living concepts, complementary programs and improvements to the public scope intends to further promote neighborhood Chinese heritage and build up the identification of the location”.
The Chinatown Business Association (CBA) has actually won the tender for a row of iconic shophouses throughout Smith Road in Chinatown. CBA includes stakeholders operating in Chinatown, such as business leaders, grassroots leaders, Chinese clan associations, hoteliers, hawkers and stores.
She adds that CBA is going to introduce “uniquely Singaporean F&B offerings and global food offers for both citizens and travelers to enjoy at Smith Road”.
“This experience is distinct to CBA, and we wish to take advantage of on our connections in the area and knowledge of Chinatown Singapore’s heritage and culture to inject even more dynamics to Smith Street and Chinatown Singapore,” says Lim.
The master occupant are going to carry out the combined management of the shophouses and a surrounding State land plot, which have a complete acreage of 34,066 sq ft and an approximated gross flooring location of 33,065 sq ft.
Lim states that the tender exercise was “very challenging” yet CBA took advantage of its energetic existence in the district for over 20 years. “Over the 2 decades, we have built and nurtured relationships, and this has bought us a deep-rooted link to the ground,” she states. The organisation has arranged past event such as wide-scale event parties such as 5 Footway Celebration and Dumpling Event, to themed markets, street activities, occasions and workshops.
Noontalk Media submitted the highest quote of $180,000, followed by runner-up CBA. Other bids stretched from $108,174 from Benlo Ventures to $68,177 from ABR Holdings and a $53,000 bid from IGYM Fitness.
The tender was examined based on cost and the top quality of each sent concept. It drew in five different prospective buyers when the tender came March, involving CBA which submitted the winning offer of $123,000. As the master renter, CBA will certainly take care of the properties for five years plus a 2nd term of 4 years.
“Visitors to Chinatown Singapore can expect more curated offerings and backgrounds for both citizens and tourists upon the conclusion of the Smith Street restoration venture. We are looking to generate more engaging and experiential community programmes, as well as even more various offerings for example, imaginative way of living, retail and co-living/co-working practices, while protecting and enjoying the location’s cultural and building heritage,” states Lim Yick Suan, executive head, Chinatown Business Association.
The tender to select an one master renter to look after the historic row of shophouses at 11 to 37 Smith Street was mutually launched by the Singapore Land Authority (SLA), the Singapore Tourism Board (STB) and the Urban Redevelopment Authority (URA) back in November in 2023.
