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 living practices and eating experiences. It says that CBA’s pitch of “separated way of life ideas, corresponding programs and enhancements to the public realm intends to further promote regional Chinese heritage and reinforce the identity of the area”.
The tender was evaluated based upon price and the high quality of each submitted concept. It drew in 5 several prospective buyers the moment the tender closed in March, involving CBA which sent the winning quote of $123,000. As the master renter, CBA will take care of the properties for five years plus a second term of 4 years.
The master renter will take on the integrated management of the shophouses and a nearby State land story, which have an overall acreage of 34,066 sq ft and an approximated gross flooring area of 33,065 sq ft.
“Visitors to Chinatown Singapore can anticipate even more curated offerings and experiences for both citizens and visitors upon the conclusion of the Smith Street restoration project. We are looking to bring in more engaging and experiential neighborhood programmes, in addition to more diverse offerings such as imaginative lifestyle, retail and co-living/co-working practices, whilst maintaining and enjoying the area’s cultural and architectural heritage,” states Lim Yick Suan, executive director, Chinatown Business Association.
She adds that CBA is going to introduce “uniquely Singaporean F&B offerings and worldwide food offerings for either locals and tourists to indulge in at Smith Street”.
The tender to assign an one master lessee to supervise the historical row of shophouses at 11 to 37 Smith Street was mutually 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 special to CBA, and we wish to utilize on our partnerships in the area and knowledge of Chinatown Singapore’s heritage and way of life to infuse more vibrancy to Smith Road and Chinatown Singapore,” states Lim.
Noontalk Media sent the greatest bid of $180,000, followed by runner-up CBA. Other quotes ranged from $108,174 from Benlo Ventures to $68,177 from ABR Holdings and a $53,000 quote from IGYM Fitness.
Lim claims that the tender exercise was “really competitive” yet CBA benefitted from its active presence in the precinct for over twenty years. “Over the 2 decades, we have actually constructed and nourished relationships, and this has bought us a deep-rooted connection to the ground,” she states. The organisation has organised past occasion such as wide-scale festival events such as Five Footway Festival and Dumpling Event, to motif markets, street activities, occasions and workshops.
The Chinatown Business Association (CBA) has won the tender for a row of legendary shophouses throughout Smith Street in Chinatown. CBA consists of stakeholders running in Chinatown, including business leaders, grassroots leaders, Chinese clan organizations, hoteliers, hawkers and sellers.
