Survival! - Suntec Mall Tenants

Tenants at the new Galleria area of Suntec mall were fuming because of low human traffic such that they could barely cover their rentals. Some quit, some stopped paying rents while some were looking for alternatives, such as asking the management to reduce rents.

Ave rents at the Galleria was $24 psf, but some were paying as high as $35 psf. According to the tenants, a typical rent guide would be 15% - 25% of the sales.

However, traffic may improve with the opening of the underpass connecting to CityLink mall and the dismantling of the overhead bridge to Suntec City.

* AsiaOne-Suntec *

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Hv been there twice since the new Galleria was done up. I got to 'make an effort' to visit that area bcos it was not on the 'main road', and also out of curiosity that I paid it a visit. I do feel that human traffic will improve when the underpass is ready, as it will then divert the traffic there.

So far, I think Raffles City has been very successful with their expansion, and I've definitely visited that place more often now than before.

Hold on and good luck to Suntec tenants.