Updated from : The Business, 21 July 2021
MAJOR landlords are bringing back the support schemes they provided last May, as Singapore enters Phase 2 (Heightened Alert) for the second time in three months.
To boost online presence and purchases, CapitaLand and City Developments Ltd (CDL) will absorb the on-boarding, commission and delivery fees from their respective digital platforms, Capita3Eats and CDL eMall.
CapitaLand will also extend the grace period for delivery drivers visiting all its malls to 30 minutes; CDL is doing the same for City Square Mall.
A CapitaLand spokesperson told The Business Times on Wednesday. “From the preceding phases, we have learnt how retailers and their operations are impacted by these measures. We will provide targeted assistance which may include relevant rental restructuring or waivers, as well as marketing support.”
CDL said: “Through adjusting operations and rendering the necessary assistance and support, CDL will continue to help businesses which have been significantly impacted by Covid-19.” Reiterating its statement in May, it added: “This includes providing rental, operational and marketing support to tenants adversely impacted by the stricter measures.”
That said, the Singapore Retailers Association suggested that the government mandate rebates of up to 50 per cent, proportionate to the decline in sales. The Restaurant Association of Singapore added that it is “unconscionable” for landlords to insist on full rentals when tenants cannot operate freely.
When asked if it will accede to the 50 per cent request, CapitaLand reiterated its earlier statement that it will provide targeted assistance.
The Business Times has also reached out to landlords for their views on this.
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