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Aside from offering tenants more flexibility in rental payments, CDL will also provide tenants operational and marketing support via its online retail and F&B sales and delivery platform CDL eMall.
City Developments Limited (CDL) on Tuesday (18 May) announced that it will roll out support initiatives for its tenants in view of the tightened COVID-19 restrictions under Phase 2 (Heightened Alert).
This includes offering more flexibility in rental payments to tenants facing severe cash flow issues.
CDL revealed that it has committed “over $40 million in property tax and rental rebates to tenants in Singapore and overseas” since the start of the COVID-19 pandemic last year.
Aside from this, CDL will also provide tenants adversely affected by the tightened measures with operational and marketing support via its online retail and F&B sales and delivery platform CDL eMall. The support will include absorption of onboarding cost, free delivery and zero commission charges.
Launched at end-2020, CDL eMall is aimed at providing its tenants at Palais Renaissance, City Square Mall and Republic Plaza with an alternative sales channel as well as a chance to enhance their online presence and extend their customer reach.
Starting 19 May, CDL will also extend the grace period for delivery drivers at City Square Mall to 30 minutes.
Yvonne Ong, CEO for Commercial at CDL, noted that the company is now in better position to manage the situation compared to last year.
“As the fight against COVID-19 pushes on with the latest tightening of measures under Phase 2’s heightened alert, CDL has begun reaching out to affected tenants, starting with those most adversely impacted,” she said.
And in compliance with the latest guidelines of the government on reduced capacity at malls, CDL has redirected its traffic flow to a few designated entrances, in which TraceTogether-only SafeEntry is being implemented.
CDL shared that it has also deployed security personnel “who will keep a lookout for large groups or crowds and disperse them where necessary, and will continue to closely monitor and adjust operational requirements as required”.
With close to 400 tenants, CDL’s Singapore retail segment make up 34% of the company’s commercial portfolio net lettable area.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
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