SINGAPORE — The Geylang Serai Ramadan bazaar kicked off last Friday (17 Mar) and will run for 36 days until 22 April, which will be the longest duration the bazaar has operated.
The bazaar, an annual event in Singapore during the Muslim holy month of Ramadan, is known for its variety of halal food, clothing, and gift stalls that attract thousands of visitors each year.
This year, the number of stalls has increased tenfold from last year, with 700 participating stalls compared to 70 in 2022.
While the vendors have presented creatively indulging foods, drinks, and products, visitors may notice that prices have increased year by year.
This is due to several factors, including inflation, increased GST, and high rental costs.
Most vendors have had to bear with the “profit-eating monster” – the ever-increasing rent that reached a new record high this year, with some vendors reportedly paying up to S$18,000 for a single unit.
The main organiser for the bazaar, Wisma Geylang Serai, is under the People’s Association.
Nearly 200 units remain unoccupied despite bazaar launched on 17 March
CNA reported on Sunday (19 March) that nearly 200 units remain unoccupied despite the bazaar launching on 17 March.
One of the vendors interviewed by CNA, founder of The Original Vadai Stephen Suriyah, said one of the struggles faced this year was the “high bids needed to secure a space.”
“Now you see the same spot, probably about six to eight years ago, I was paying about maybe $8000, $10,000 thousand maximum, but now we are paying about close to $18,000, ” he said this might be one of the reasons why there are empty stalls at the bazaar.
Mothership reported that some vendors shared that the rent ranges between S$16,000 and S$19,000 just for one unit.
Katoshka’s founder Hasif recalled that the rent was S$7,000 back in 2016.
‘World’s most expensive pasar malam stall’
Commenting on the stall rental at the Geylang Serai Ramadan bazaar, Makansutra founder Kf Seetoh expressed his surprise at the rental prices, stating that it turns the bazaar “easily the world’s most expensive pasar malam stall offering an unproportionately cheap menu.”
The Singapore’s famous food critic further stated that even top pop-up markets in prime time New York or LA cannot hold a candle to the bazaar’s high rental prices.
“Justifying our world’s most expensive city reputation i guess. How did we get here?”
Kf Seetoh currently runs Urban Hawker food hall in Midtown Manhattan, New York, featuring all kinds of Singaporean cuisine.
According to Berita Harian, the Nasi Ambeng stall in Urban Hawker cost the owners over US$150,000 to set up and a monthly rent of US$10,000 (S$13,400).
One netizen made an estimate that the high rental cost of $18,000 per month means the vendors have to generate a minimum of $1,200 in pre-cost revenue each day for the next 30 days.
https://www.theonlinecitizen.com/20...month-rental-at-geylang-serai-ramadan-bazaar/
