The Singapore Land Authority (SLA), Singapore Tourism Board (STB) and Urban Redevelopment Authority (URA) will be appointing an operator for the integrated management of Bugis Village and Bugis Street to enhance the vibrancy of the area, which is popular among locals and tourists. Currently, CapitaLand Commercial Trust Limited (“CCT”) is managing Bugis Village, while Bugis Street Development Pte Ltd (“BSD”) is managing Bugis Street. Their leases will expire on 31 March 2020.
The agencies today launched a Price and Quality tender for a single operator to take on the integrated management of Bugis Village and Bugis Street from 1 April 2020. The tender exercise requires the single operator to propose compelling ideas for better programming, offerings and pedestrian flow across the two sites to enhance the current lifestyle, retail and dining experience.
In addition, the integrated management of Bugis Village and Bugis Street will create more opportunities for comprehensive place-making, as well as enable more efficient upgrades and enhancements to be made to the entire area, such as transforming the service areas in the back lanes into more delightful laneways.
Building on the distinct character of Bugis Village and Bugis Street
Located within Bras Basah.Bugis, a precinct that has been growing its arts, cultural and education offerings, Bugis Village and Bugis Street are well-known among visitors for their vibrant and eclectic street market and shophouses.
The integrated Bugis Village and Bugis Street is envisaged to be a unique destination that will enhance the precinct’s rich and diverse character and have greater synergy with the surrounding uses. The Bugis Street market concept, which offers a differentiated retail experience, will also be retained and strengthened.
The agencies welcome innovative ideas and concepts that bring a diverse range of lifestyle offerings to create a unique visitor experience that will complement the street market as well as enliven the adjacent streets, laneways and surroundings in the Bras Basah.Bugis precinct.
Price and Quality tender for greater emphasis on offerings
The Price and Quality tender will allow for a more holistic assessment of bids. On the quality of the concept, tenderers will be assessed on the potential of their proposals to enhance the vibrancy of the site and to achieve stronger synergy within the wider precinct.
The successful tenderer will be awarded a 3+3+3-year tenure and be required to implement physical improvement works and an efficient facility management system to enhance the integrated site and facilitate place making activities. These are meant to encourage the development of unique retail experiences, whilst enhancing the street market experience to attract a wider range of visitors and provide a better overall visitor experience.
Assuring business continuity for existing tenants
The agencies have engaged CCT and BSD, and their tenants at Bugis Village and Bugis Street respectively, to facilitate business continuity under the new operator come 1 April 2020. Existing tenants have been assured that they can continue their operations at prevailing rent under the new operator until 31 March 2021.
The tender will be open from today till 22 October 2019. Tenderers interested to develop and operate the site may access the following website for more information on the tender: SPIO (http://www.sla.gov.sg/spio).