56% of hawker stalls in tender exercises awarded below reserve rent
- POSTED: 17 Sep 2013 22:14
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The National Environment Agency (NEA) says 56 per cent of stalls in hawker centres participating in its tender exercises were awarded below reserve rent.
SINGAPORE: The National Environment Agency (NEA) says 56 per cent of stalls in hawker centres participating in its tender exercises were awarded below reserve rent.
NEA removed the reserve rent when tendering out vacant stalls in March last year.
This means that stalls will be allocated to the highest bidder even at a low price, as long as there are competitive bids.
NEA said that between last March and February this year, a total of 336 stalls were awarded in its tender exercises.
116 stalls or 61 per cent of the stalls awarded below reserve rent had been previously vacant for more than three months.
Tender bids ranged from S$5 to S$1,800 for market stalls.
For cooked food stalls, the bids ranged from S$20 to S$4,200.
While lower rents could help those who want to set up shop, some hawkers say this does not necessarily mean that food will be cheaper.