People’s Park tenants hope for better business after upgrading

The People’s Park at Block 32 New Market Road will be renamed People’s Park Plaza once retrofitting works are completed.

It is all part of efforts to help bring in more business for tenants there.

The block is one of four sites to receive upgrading, and one of 35 sites to receiving funding for promotional activities from the Housing and Development Board’s (HDB) Revitalisation of Shops (ROS) scheme.

Some businesses in People’s Park said customers are often confused by the name and refer to other establishments like the People’s Park Centre and People’s Park Complex.

So a name change might just help make things clearer for all.

The centre will also receive partial funding for three to four promotional events to enhance its business vibrancy and competitiveness.

Teck Whye Shopping Centre is another recipient of the scheme’s promotional events co-funding.

Businesses in the neighbourhood Centre said they face fierce competition from nearby shopping centres, and lose as much as 10 to 20 per cent in business every year.

Tenants believe promotional events could bring back about 10 per cent more business.

HDB said some S$11m has been set aside for 3,300 shops in the 35 sites.

The ROS scheme, which started in 2007, has three components – co-funding upgrading for common areas, co-funding for promotional events, and rent-free periods for tenants to renovate their shops.

Source : Channel NewsAsia – 24 Jan 2012

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