CapitaLand reaffirms support for tenants affected by Singapore’s reversion to Phase 2 (Heightened Alert) from 22 July 2021

Singapore, 21 July 2021 – The reversion to Phase 2 (Heightened Alert) from 22 July 2021 presents a new wave of challenges for shopping mall operators, tenants and shoppers, and we are greatly empathetic of the unforeseen situation.  We have taken learnings from the preceding phases and will journey with our stakeholders through this period.

Leveraging the resilience of CapitaLand’s retail ecosystem, we are committed to proactively work alongside our tenants to get through the challenging times.  We saw some encouraging outcomes from our online solutions to help drive business for retailers. In the first iteration of Phase 2 (Heightened Alert) from 16 May to 13 June 2021, our twin platforms registered an average of more than 90% month-on-month growth in Gross Merchandising Value (GMV), and over 60% increase in page views.

As COVID-19 has impacted different malls and trade categories by varying degrees, CapitaLand’s rental relief will be disbursed to retailers in a targeted manner, based on their individual needs and circumstances.  Customised measures may include a review of security deposits, restructuring of rental payments and rental rebates to ease retailers’ cashflow.  As COVID-19 has impacted different malls and trade categories by varying degrees, CapitaLand’s rental relief will be disbursed to retailers in a targeted manner, based on their individual needs and circumstances.  Customised measures may include a review of security deposits, restructuring of rental payments and rental rebates to ease retailers’ cashflow.  CapitaLand is offering additional support, including rental relief, for its Singapore retail partners affected by COVID-19.  These measures will be on top of Budget 2020 measures unveiled yesterday, as well as the S$10 million marketing assistance programme set up by CapitaLand last week.  

 

As COVID-19 has impacted different malls and trade categories by varying degrees, CapitaLand’s rental relief will be disbursed to retailers in a targeted manner, based on their individual needs and circumstances.  Customised measures may include a review of security deposits, restructuring of rental payments and rental rebates to ease retailers’ cashflow.  

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Leveraging on the resilience of its retail ecosystem, CapitaLand is committed to proactively journeying with our stakeholders through this period.

We continue to reinforce stringent precautionary measures to ensure the wellbeing of our shoppers, tenants and staff.

From the preceding phases, we have learnt how retailers and their operations are impacted by these measures. We will provide targeted assistance which may include relevant rental restructuring or waivers, as well as marketing support to continue their sales through our digital platforms, eCapitaMall and Capita3Eats.  In addition, we are waiving the platform and commission fees for existing and new F&B operators who sign up with Capita3Eats during this period.

We will extend the grace period for drivers visiting our malls to 30 minutes from 22 July 2021, to make it easier for our F&B operators to fulfill the expected increase in their food delivery and takeaway orders. We will also reinstate designated dining areas for front-line staff and delivery riders to take their meals in a safe and comfortable zone.

As COVID-19 has impacted different malls and trade categories by varying degrees, CapitaLand’s rental relief will be disbursed to retailers in a targeted manner, based on their individual needs and circumstances.  Customised measures may include a review of security deposits, restructuring of rental payments and rental rebates to ease retailers’ cashflow.  As COVID-19 has impacted different malls and trade categories by varying degrees, CapitaLand’s rental relief will be disbursed to retailers in a targeted manner, based on their individual needs and circumstances.  Customised measures may include a review of security deposits, restructuring of rental payments and rental rebates to ease retailers’ cashflow.  CapitaLand is offering additional support, including rental relief, for its Singapore retail partners affected by COVID-19.  These measures will be on top of Budget 2020 measures unveiled yesterday, as well as the S$10 million marketing assistance programme set up by CapitaLand last week.  

 

As COVID-19 has impacted different malls and trade categories by varying degrees, CapitaLand’s rental relief will be disbursed to retailers in a targeted manner, based on their individual needs and circumstances.  Customised measures may include a review of security deposits, restructuring of rental payments and rental rebates to ease retailers’ cashflow.  

Shoppers can continue to enjoy a seamless shopping and dining experience online with eCapitaMall and Capita3Eats. On 24 July 2021, shoppers can look forward to the biggest edition of our livestream shoppertainment show, CapitaStar LIVE 247!, packed with attractive discounts, flash deals, lucky draws, and more than S$1 million worth of exclusive rewards.

At the same time, we will adhere closely to the authorities’ safety guidelines, and continue to reinforce stringent precautionary measures to ensure the wellbeing of our shoppers, tenants and staff.

Shoppers can look forward to the biggest edition of our livestream shoppertainment show on 24 July 2021, CapitaStar LIVE 247!, packed with attractive discounts, flash deals, lucky draws, and more than S$1 million worth of exclusive rewards.