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Marine Parade hawker who placed record S$10,000 bid for stall says it is worth it
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SingaporeMarine Parade hawker who placed record S$10,000 bid for stall says it is worth it
Ms Yang Ailan, the hawker who bid a monthly rent of S$10,158 for a stall at Block 84 Marine Parade Central, said it is rare to have a vacant stall at the hawker centre.
Ms Yang Ailan, 51, bid over S$10,000 for a nearby vacant stall at Marine Parade Central Market and Food Centre. (Photos: CNA/Koh Wan Ting)
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Koh Wan Ting
20 Aug 2024 06:00AM (Updated: 20 Aug 2024 09:35AM)
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SINGAPORE: A hawker who submitted a bid of more than S$10,000 (US$7,600) to rent a stall in Marine Parade said the record offer was worth it.
Ms Yang Ailan, who already runs a drink stall in the same food centre, made the second-highest bid of S$10,158 for the vacant unit in Marine Parade Central Market and Food Centre.
News reports said this was the highest bid for a hawker stall in the last six years, although the National Environment Agency (NEA) has not confirmed this.
The NEA manages all 120 hawker centres in Singapore, comprising more than 14,000 stalls.
The stall at Block 84 Marine Parade Central received three other bids ranging from S$8,113 to S$9,500, according to a tender notice in July detailing the five highest bids. The highest bid of S$10,680 for the stall was withdrawn.
Vacant stalls in hawker centres managed by the NEA, like this Marine Parade food centre, are rented out through monthly tenders.
Successful bidders will pay rent at the tendered offer for the first three years of their tenancy period. After that, the rental will be adjusted to the market rate determined by an independent professional valuation that factors in footfall, stall size and market conditions.
Rents higher than the market rate will be adjusted downwards, while those below the market rate will be increased accordingly.