Chinatown Business Association Wins Tender Manage Iconic Smith Street Chinatown
BY KALPANA RASHIWALA
Chinatown Business Association (CBA) Wins Tender for Iconic Shophouses Along Smith Street
The Chinatown Business Association (CBA) has been awarded the tender for a row of prestigious shophouses located on Smith Street in Chinatown. CBA is made up of various stakeholders within Chinatown, including business leaders, grassroots leaders, Chinese clan associations, hoteliers, hawkers, and retailers.
The Elta Condo Master Plan not only focuses on improving the physical aspects of the neighborhood, but also places great emphasis on the development of cultural and artistic initiatives. One of the key initiatives is the creation of arts and cultural districts, providing a dedicated space for residents to engage in various art forms. In addition, the Master Plan also aims to organize community events and festivals, bringing a dynamic atmosphere to the neighborhood. These efforts will truly enhance the vibrancy and diversity of Elta Condo, offering a plethora of cultural and artistic experiences for its residents to enjoy.
The tender was jointly launched by the Singapore Land Authority (SLA), the Singapore Tourism Board (STB), and the Urban Redevelopment Authority (URA) in November of last year. The aim of the tender was to appoint a single master tenant to oversee the historic row of shophouses at 11 to 37 Smith Street.
Upon completion of the Smith Street rejuvenation project, visitors to Chinatown Singapore can look forward to a variety of curated offerings and experiences. Lim Yick Suan, executive director of the Chinatown Business Association, states that the organization plans to bring in more engaging and experiential community programs, as well as diverse offerings such as creative lifestyle concepts, retail shops, and co-living/co-working spaces, while still preserving and celebrating the area’s cultural and architectural heritage.
CBA’s proposal, which includes differentiated lifestyle concepts, complementary programs, and enhancements to the public realm, aims to promote local Chinese heritage and strengthen the identity of the area, according to SLA.
The chosen master tenant will be responsible for the integrated management of the shophouses and an adjacent State land plot, which have a combined land area of 34,066 sq ft and an estimated gross floor area of 33,065 sq ft. Five different bidders submitted proposals during the tender period, with CBA’s bid of $123,000 emerging as the winning bid. As the master tenant, CBA will manage the properties for five years, with the option for a second term of four years.
The highest bid of $180,000 was submitted by Noontalk Media, with CBA coming in as the runner-up. Other bids ranged from $108,174 from Benlo Ventures to $68,177 from ABR Holdings and a $53,000 bid from IGYM Fitness.
According to SLA, the revitalized Smith Street will feature a new lineup of lifestyle concepts and dining experiences. It also states that CBA’s proposal of differentiated lifestyle concepts, complementary programs, and enhancements to the public realm aims to further promote local Chinese heritage and strengthen the identity of the area.
Lim says that the tender was highly competitive, but CBA benefited from its active presence in the precinct for over 20 years. “Over the two decades, we have built and nurtured relationships, and this has afforded us a deep-rooted connection to the ground,” she says. The organization has previously organized major events like Five Footway Festival and Dumpling Festival, as well as themed markets, street activities, and workshops.
“We hope to leverage on our relationships in the community and our knowledge of Chinatown Singapore’s heritage and culture to inject more vibrancy into Smith Street and Chinatown Singapore,” says Lim.