SMRT should consider farming out retail space ops
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Kalpana Rashiwala
DeeperDive is a beta AI feature. Refer to full articles for the facts.
A COUPLE of months ago, CapitaLand bagged a contract to manage the retail component of the new SingPost Centre next to the Paya Lebar MRT Interchange station. Slated to open in the second half of this year, this will comprise about 175,000 sq ft net lettable area of retail space spanning five levels.
SingPost noted, among other things, that the arrangement allows it to focus its attention on its core operations of postal services and eCommerce logistics.
This seems to me a sensible arrangement for organisations like SingPost that own retail space, but for whom this is not their core business.
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