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Forum: Costly renovations not the only way to attract crowds
Dec 10, 2024I am concerned about the ongoing and seemingly endless renovations and rebuilding in Singapore, ranging from shopping malls to office buildings to even hawker centres.
Development and refurbishment are important for maintaining competitiveness, but there are other factors to be considered.
These renovations trigger spiralling of costs.
As landlords seek to recoup renovation and rebuilding expenses, the prices for retail spaces rise, ultimately driving up the cost of goods and services.
Many would have noticed how often food centres and foodcourts are renovated.
A recent example is Bukit Timah Market & Food Centre, which is making way for a new development.
This centre had undergone various upgrading and cleaning, and its condition was still acceptable for years to come. I understand from stallholders that they will charge much higher prices when they start operating at the new development.
The high prices make shopping and dining in Singapore less appealing to locals, tourists and expatriates alike. Huge numbers of Singaporeans spend their weekends in Johor Bahru for this reason.
For Singapore to remain an attractive destination for business and leisure, it is essential that the retail and business environments be sustainable. Constant renovation and rebuilding are not environmentally friendly. They also do not contribute to a sense of belonging.
Malls should be encouraged to find innovative ways to attract crowds and not rely on renovation alone since it ultimately hurts the pockets of consumers, who will be driven online and to seek out alternative dining places.
I urge the authorities to set up a watchdog to consider introducing regulations on the frequency and scale of renovation of retail spaces.
A more balanced approach could help preserve the vibrancy of Singapore’s retail scene without compromising sustainability, affordability and the overall shopping experience.
Goh Sio Yean
