Chinatown Business Association wins tender to manage iconic Smith Street in Chinatown
According to SLA, the revitalised Smith Street are going to view a new line-up of way of living practices and eating experiences. It claims that CBA’s pitch of “set apart way of living ideas, complementary programmes and improvements to the general public scope aims to better promote regional Chinese heritage and strengthen the identity of the location”.
She adds that CBA is going to introduce “uniquely Singaporean F&B offerings and worldwide food offers for either locals and visitors to appreciate at Smith Road”.
“This experience is distinct to CBA, and we wish to take advantage of on our connections in the neighborhood and knowledge of Chinatown Singapore’s heritage and way of life to infuse more excitement to Smith Road and Chinatown Singapore,” claims Lim.
Noontalk Media sent the highest 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.
The tender to select an one master tenant to supervise the historical row of shophouses at 11 to 37 Smith Street was mutually introduced by the Singapore Land Authority (SLA), the Singapore Tourism Board (STB) and the Urban Redevelopment Authority (URA) back in November in 2023.
The master occupant will undertake the integrated 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.
Lim says that the tender activity was “really tough” but CBA took advantage of its active presence in the precinct for over two decades. “Over the two decades, we have actually built and fostered connections, and this has actually afforded us an ingrained connection to the ground,” she states. The organisation has organised past event such as wide-scale event parties such as Five Footway Celebration and Dumpling Festival, to themed markets, street tasks, occasions and workshops.
“Visitors to Chinatown Singapore can expect even more curated offerings and backgrounds for both citizens and tourists upon the completion of the Smith Street restoration venture. We are looking to generate much more engaging and experiential neighborhood programs, in addition to even more different offerings for example, imaginative lifestyle, retail industry and co-living/co-working approaches, while preserving and enjoying the location’s ethnical and architectural culture,” claims Lim Yick Suan, managing supervisor, Chinatown Business Association.
The tender was reviewed based on rate and the top quality of each sent approach. It drew in 5 various prospective buyers when the tender came March, involving CBA which submitted the winning quote of $123,000. As the master lessee, CBA will manage the real estates for five years plus a 2nd term of 4 years.
The Chinatown Business Association (CBA) has won the tender for a row of iconic shophouses throughout Smith Street in Chinatown. CBA contains stakeholders running in Chinatown, including business leaders, grassroots leaders, Chinese clan organizations, hoteliers, hawkers and sellers.
