15% Economic Growth during YOG, MRT level @City Sq 3 Vacant Shops

[Screwball]

Singapore give them allowances and give them free shopping at 2000 dollar a day.

Got 2000 dollar meh.
I am hearing it is only $200 per day for athletes and $350 per day for officials.

 

[downgrader]

The reason for many of these half-empty mall foodcourts is REIT

Real Estate Investment Trust

They squeeze higher and higher rent - the hawker cannot tahan except to pass it on

So a plate of nasi lemak becomes $6 to $8

Average Singaporean eats at hawker centre $3

Nowadays you see the return of the uncle on his bicycle selling $1.50 nasi lemak in Geylang Serai, Joo Chiat - rice, one slice of egg and one ikan kuning - selling very well

People are broke - the $1.50 meal will sell well - the $8 foodcourt meal very few will eat - so the hawker after three months close shop

 

[pc2009]

My observation; I have seen quite a few vacant stalls in many food courts and coffee shops. I guess it has come to a point that business is not sustainable anymore with the high rental. What do you think ?

 

[aurvandil]

My observation; I have seen quite a few vacant stalls in many food courts and coffee shops. I guess it has come to a point that business is not sustainable anymore with the high rental. What do you think ?

Retail space is not a homogenous commodity. There is a lack of retail space in popular, well established shopping areas with established human traffic. There is a however a huge over supply of retail space in new shopping areas which hardly anyone ever goes to.

Human beings are creatures of habit. With only 24 hours a day, we tend to stick to things which we are comfortable with. For most people, they already have an internal roster of shopping malls/eating places which they rotate for leisure.

 

[zuoom]

make sense.

 

[johnny333]

But the shuttle bus to City Square mall always full leh!

Whenever I visit Mustaffa its convenient to take the City Square shuttles & walk to Mustaffa

I do have my meals at City Square because it's not so crowded :o

 

[lifeafter41]

The reason for many of these half-empty mall foodcourts is REIT

Real Estate Investment Trust

They squeeze higher and higher rent - the hawker cannot tahan except to pass it on

So a plate of nasi lemak becomes $6 to $8

Average Singaporean eats at hawker centre $3

Nowadays you see the return of the uncle on his bicycle selling $1.50 nasi lemak in Geylang Serai, Joo Chiat - rice, one slice of egg and one ikan kuning - selling very well

People are broke - the $1.50 meal will sell well - the $8 foodcourt meal very few will eat - so the hawker after three months close shop

REIT is just another layer of so called scheme to just use public's (read investor)money to buy up/rent retail space and charge high rent, where ultimately the cost will be passed to the consumers and the managers will earn big money, with good returns and performance kpi on the properties.

 

[silliporean]

Only a cock head will set up a mall in that Ah Neh area lah...just a few blocks down the road even the king of serangoon road Mustaffa is not doing well...

 

[besotted]

business die there good

because smart consumers come to my restaurants that give good value for money

 

[Watchman]

Times are bad everywhere !

Set fire to claim losses .