RAS calls out lack of rental rebates for F&B businesses
It cited CapitaLand which only offered a 10% rebate instead of the promised 50%.
The Restaurant Association of Singapore (RAS) stated that they are “deeply disappointed” with landlords’ slow response to their call on easing the rents of F&B businesses, a press release revealed.
RAS noted that in five weeks since Singapore’s first COVID-19 case, only Jewel Changi, Changi Airport Group, JTC and NParks have sent written notices to their tenants to confirm that the rental rebates they promised. The association also cited that CapitaLand’s rental rebate implementation is yet to take effect.
“In the case of CapitaLand, promised rental rebates of 50% for their restaurant tenants have yet to be fulfilled. RAS has checked with various F&B operators representing some 500 outlets and established that a number of restaurateurs operating in CapitaLand’s handful of urban malls have only been offered 10% rebates instead. In one solitary instance at its Clarke Quay property, CapitaLand extended a 15% rental rebate,” the press release stated.
RAS added that there have been no rental rebated granted in CapitaLand’s suburban malls, which is said to form most of its shopping mall portfolio.
“We remain hopeful that the landlords will honour their word to rollout their rental rebates. The landlords need to fulfil their role as partners in helping the F&B industry save jobs and secure the livelihood of our employees,” said Edwin Fong, executive director and RAS’ spokesperson.