RAS urges landlords to ease F&B rents

Jewel Changi was the first to respond, as they will cut rents by 50%.

The Restaurant Association of Singapore (RAS) is calling landlords to ease rents for their food & beverages (F&B) tenants as the novel Coronavirus (COVID-19) continues to weigh on their manpower and rental costs, according to a statement by RAS president Vincent Tan.

“We analyse our cost of operations, what stares at us is the fact that apart from manpower costs, rental cost accounts for more than a quarter of our operating cost,” he said.

Tan further stated that in a span of 22 days, they have seen revenues and visitor arrivals of retailers and restaurants dive.

Jewel Changi was the first to respond, as they have agreed to give a 50% rebate on fixed rent for two months. It houses international quick service restaurants such as Shake Shack and Burger & Lobster.

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