Rental Rebates

Govt won’t intervene as loans still available to property developers

The Singapore government will not step in to underwrite existing bank loans to property developers for now. This is because loans and other financing options are still available despite the current credit crunch, said National Development Minister Mah Bow Tan in Parliament on Monday. The economy is facing a difficult recession, but Singapore property developers may have been spared the brunt of the...

Four industry bodies tie up to engage landlords on rental costs

Four industry bodies in Singapore have banded together to battle the current downturn. The Singapore Retailers Association, the Restaurant Association of Singapore, the Singapore Jewellers Association, and the Textile and Fashion Federation have pledged to share information and create a unified stance on matters common to their industries. In a joint statement, the four industry bodies say they have tied...

Retail crunch: no need to panic … yet?

ARE retailers on the verge of crisis or not? As their representative body cries out for help, shoppers who rub shoulders in crowded malls on weekends may be wondering. And at least one major landlord insists, there is no reason to panic, and no justification for an across-the-board cut in rentals. Last week, the Singapore Retailers Association sounded the alarm bells Sales have dropped 20 to 30 per cent...

Can the market save itself?

I REFER to the report "A plea for survival" (Feb 27) about the Singapore Retailers Association (SRA) asking landlords to reduce rentals significantly to help retailers cope with the severe economic downturn. The report was an eye-opener, showing that while businesses are trying their best to survive these difficult times, some landlords are trying to earn as much as they can in the short-term. The SRA is...

$60m lift for airport retailers?

AS air traffic falls, more than$60 million has been set aside to give retailers at Changi Airport a much needed lift. The Civil Aviation Authority of Singapore (CAAS) will provide a rental relief package - $43 million in rebates and $20 million for a newly set up "Promotions Development Fund" - for retail, F&B and services concessionaires to help them remain viable, Senior Minister of State...

CAAS to give Changi Airport tenants another S$70m of rental rebates

The Civil Aviation Authority of Singapore (CAAS) will extend S$70 million to help airport partners tide over the economic downturn. This is over and above the S$130 million Air Hub Development Fund announced earlier. The CAAS had, in December last year, announced an extension on this fund till end-2009. The money will go towards rental rebates and a Promotions Development Fund for retail, food and...

REDAS says more developers to pass tax savings on to tenants

Singapore developers are likely to pass on benefits from this year's Budget to their tenants. The Real Estate Developers' Association of Singapore (REDAS) said this will help them through the current tough times. Key players in the property industry came together to enjoy the traditional Lunar New Year dish, Yu Sheng (raw fish salad). The dish symbolises abundance and prosperity and Singapore developers...

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