Chinatown Business Association Wins Tender Manage Iconic Smith Street Chinatown
After an extensive tender process, the Chinatown Business Association (CBA) has been selected as the master tenant for a prominent row of shophouses along Smith Street in Chinatown. The CBA comprises of various stakeholders in the Chinatown community, including business leaders, grassroots leaders, Chinese clan associations, hoteliers, hawkers, and retailers.
The tender for a single master tenant was jointly launched by the Singapore Land Authority (SLA), the Singapore Tourism Board (STB), and the Urban Redevelopment Authority (URA) in November of last year. The aim of the project is to revitalize the historic Smith Street and offer curated experiences and offerings for both locals and tourists.
Lim Yick Suan, the executive director of the Chinatown Business Association, shared, “Visitors to Chinatown Singapore can look forward to more curated offerings and experiences for both locals and tourists upon the completion of the Smith Street rejuvenation project. We are looking to bring in more engaging and experiential community programmes, as well as more diverse offerings such as creative lifestyle, retail, and co-living/co-working concepts, while preserving and celebrating the area’s cultural and architectural heritage.”
CBA’s proposal includes a variety of differentiated lifestyle concepts, complementary programmes, and enhancements to the public realm aims to further promote local Chinese heritage and strengthen the identity of the area, as stated by SLA.
The selected master tenant will be responsible for the integrated management of the shophouses and an adjacent State land plot, with a total land area of 34,066 sq ft and an estimated gross floor area of 33,065 sq ft. The tender attracted five different bidders, with CBA submitting the winning bid of $123,000. CBA will manage the properties for five years and a second term of four years as the master tenant.
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Noontalk Media submitted the highest bid of $180,000, followed by CBA as the runner-up. Other bids ranged from $108,174 from Benlo Ventures to $68,177 from ABR Holdings and a $53,000 bid from IGYM Fitness.
According to the SLA, the revitalized Smith Street will offer a new lineup of lifestyle concepts and dining experiences. CBA’s proposal includes differentiated lifestyle concepts, complementary programmes, and enhancements to the public realm, which aims to further promote local Chinese heritage and strengthen the identity of the area.
Lim states that the tender process was highly competitive, but CBA had an advantage due to their active presence in the precinct for over 20 years. She further adds, “Over the two decades, we have built and nurtured relationships, and this has afforded us a deep-rooted connection to the ground.” CBA has organized various events in the area, from wide-scale festival celebrations such as Five Footway Festival and Dumpling Festival to themed markets, street activities, events, and workshops.
Lim notes, “This experience is unique to CBA, and we hope to leverage on our relationships in the community and knowledge of Chinatown Singapore’s heritage and culture to inject more vibrancy to Smith Street and Chinatown Singapore.”