Syed Harun Alhabsyi on shop rentals in heritage precincts
Median rents for retail spaces in the historic districts of Kampong Glam, Little India and Chinatown have increased at a moderate pace of around two per cent per annum over the past two years. These are comparable with rental increases of conventional retail space in the Central Area and lower than nominal GDP growth over the same period. Senior Parliamentary Secretary for National Development Syed Harun Alhabsyi highlighted this trend in reply to MPs’ questions in parliament on Tuesday (Feb 3). He added that the government carefully monitors retail rents across Singapore and will continue to support heritage businesses.
Median rents for retail spaces in the historic districts of Kampong Glam, Little India and Chinatown have increased at a moderate pace of around two per cent per annum over the past two years. These are comparable with rental increases of conventional retail space in the Central Area and lower than nominal GDP growth over the same period. Senior Parliamentary Secretary for National Development Syed Harun Alhabsyi highlighted this trend in reply to MPs’ questions in parliament on Tuesday (Feb 3). He added that the government carefully monitors retail rents across Singapore and will continue to support heritage businesses.
Popular Shows
