Chinatown Business Association wins tender to manage iconic Smith Street in Chinatown
According to SLA, the revitalised Smith Street will view a brand-new line-up of way of life methods and dining experiences. It claims that CBA’s proposition of “set apart lifestyle principles, complementary programs and upgrades to the general public field intends to better promote regional Chinese heritage and reinforce the identity of the area”.
The Chinatown Business Association (CBA) has actually won the tender for a row of iconic shophouses along Smith Road in Chinatown. CBA includes stakeholders operating in Chinatown, such as business leaders, grassroots leaders, Chinese clan organizations, hoteliers, hawkers and sellers.
“Visitors to Chinatown Singapore can expect even more curated services and backgrounds for both residents and travellers upon the conclusion of the Smith Street restoration venture. We are looking to bring in a lot more engaging and experiential neighborhood programmes, in addition to more various offerings for example, creative lifestyle, retail industry and co-living/co-working practices, while preserving and celebrating the location’s cultural and architectural ancestry,” says Lim Yick Suan, managing supervisor, Chinatown Business Association.
The master renter will carry out the combined management of the shophouses and a surrounding State land story, which have a total land area of 34,066 sq ft and an estimated gross floor location of 33,065 sq ft.
She includes that CBA will introduce “distinctly Singaporean F&B offerings and global food offerings for both locals and vacationers to appreciate at Smith Street”.
The tender to designate a single master lessee to oversee the historic row of shophouses at 11 to 37 Smith Street was jointly released by the Singapore Land Authority (SLA), the Singapore Tourism Board (STB) and the Urban Redevelopment Authority (URA) back in November in 2023.
“This experience is one-of-a-kind to CBA, and we wish to utilize on our connections in the community and knowledge of Chinatown Singapore’s heritage and culture to infuse even more dynamics to Smith Road and Chinatown Singapore,” says Lim.
Noontalk Media sent the highest possible quote of $180,000, followed by runner-up CBA. Other proposals ranged from $108,174 from Benlo Ventures to $68,177 from ABR Holdings and a $53,000 bid from IGYM Fitness.
Lim claims that the tender activity was “extremely challenging” however CBA benefitted from its active presence in the precinct for over twenty years. “Over the 2 decades, we have developed and nurtured partnerships, and this has actually afforded us an ingrained connection to the ground,” she states. The organisation has arranged past occasion such as wide-scale event parties such as 5 Footway Celebration and Dumpling Event, to motif markets, street activities, events and workshops.
The tender was examined based on price and the high quality of each provided approach. It brought in 5 different bidders the moment the tender closed in March, involving CBA which submitted the winning offer of $123,000. As the master occupant, CBA will handle the real estates for 5 years plus a second term of four years.
