Jewel Changi Airport reduces F&B rent by 50% as S’pore restaurants anticipate losses
To help restaurants in Singapore during this critical period, the Restaurant Association of Singapore (RAS) has reached out to landlords to write off their F&B tenants’ rent.
Jewel offer rental rebates to F&B outlets
In a press conference today (Feb. 13), RAS praised Jewel Changi Airport for being the first establishment in Singapore to offer rental rebates to restaurants in the mall.
The mall has reached out to restaurant tenants to offer them a 50 per cent reduction on gross rent. This was done even before RAS reached out to Jewel Changi Airport.
This, according to Tan, will go a long way in “saving livelihoods of employees”.
“Their kindness will not be forgotten.”
In the meantime, Andrew Tjioe, President Advisor of RAS and CEO of TungLok, has said that his restaurants have avoided serving certain foods like raw oysters and sashimi.
Anticipating more than 50% dip in business
Restaurants in Singapore have projected a dip in business since the first reported case of coronavirus, according to Vincent Tan, president of RAS.
This projection is based on both manpower cost and rental cost.
As a result of Covid-19, most businesses are anticipating more than 50 per cent loss of revenue over the next 3 months.
Jewel Changi Airport reduces F&B rent by 50% as S’pore restaurants anticipate losses
To help restaurants in Singapore during this critical period, the Restaurant Association of Singapore (RAS) has reached out to landlords to write off their F&B tenants’ rent.
Jewel offer rental rebates to F&B outlets
In a press conference today (Feb. 13), RAS praised Jewel Changi Airport for being the first establishment in Singapore to offer rental rebates to restaurants in the mall.
The mall has reached out to restaurant tenants to offer them a 50 per cent reduction on gross rent. This was done even before RAS reached out to Jewel Changi Airport.
This, according to Tan, will go a long way in “saving livelihoods of employees”.
In the meantime, Andrew Tjioe, President Advisor of RAS and CEO of TungLok, has said that his restaurants have avoided serving certain foods like raw oysters and sashimi.
Anticipating more than 50% dip in business
Restaurants in Singapore have projected a dip in business since the first reported case of coronavirus, according to Vincent Tan, president of RAS.
This projection is based on both manpower cost and rental cost.
As a result of Covid-19, most businesses are anticipating more than 50 per cent loss of revenue over the next 3 months.
More at https://www.mothership.sg/2020/02/restaurant-association-singapore-coronavirus/