Prime shopping space in CBD shrinks
By Lynda Hong | Posted: 07 January 2013 1843 hrs
SINGAPORE: Prime shopping space in the central business district (CBD) has shrunk.
As at end of September 2012, retail space - excluding that for drinking, eating and entertainment - has fallen by about 3 per cent, according to data by the Urban Redevelopment Authority (URA) which was analysed by real estate firm Colliers International.
Prints, an upmarket stationery retailer, has been looking to expand in the Orchard Road area. Its outlet at Chevron house has attracted a lot of corporate orders and bulk purchases from surrounding offices.
But its business is still lagging behind its other outlet at Ion Orchard. With space four times larger Chevron's, Ion brings in 20 per cent more business.
The company said expanding into the Orchard Road shopping belt may also open up new opportunities. Its third outlet at CityLink Mall sees the least business.
Prints' operation manager, Lim Fung Leng, said: "We're still looking at areas like Orchard and VivoCity because we would like to expand into the international market and we would like to attract more tourists and those area has a lot people from different walks of life it will get more exposure for our products."
More retail space in the CBD area has been converted for Food and Beverage purposes, according to a research by real estate agency Colliers International.
As a result, the available space for other retail use has become tighter.
Colliers International's research head, Chia Siew Chuin, said: "Why you see more retail space or rather more F&B space is because a lot of developers and owners of retail malls know that F&B outlets are actually magnets for people. Magnets for human traffic to be locked inside their retail malls. So gone are the days when you only see 15 per cent to 20 per cent F&B space. You can see as high as 40 or 50 per cent of your total space is F&B or leisure space."
Other analysts said prime space for F&B outlets may typically command lower rents.
Savills Singapore's research head Alan Cheong said: "F&B commands lower rentals on a dollar-psf, gross lettable area because you have a lot of non-revenue generating activities like your kitchen and in some instances you have to provide washroom compared to retail where every single space is for revenue generating purpose."
Except for the building housing the former DBS headquarters that will be redeveloped to include a sizeable retail space spanning 170,000 square feet, analysts don't see much office space being converted to retail space in the CBD.
In the next five to 10 years, new condominiums will create the need for more retail space.
But analysts said these would be F&B outlets and retail stores providing basic necessities like pharmacies, mini-grocers and supermarkets for affluent residents.
- CNA/ck
- wong chee tat :)
Showing posts with label VivoCity. Show all posts
Showing posts with label VivoCity. Show all posts
Tuesday, January 8, 2013
Tuesday, November 6, 2012
Singapore's F&B service sector reaches out to job seekers
Singapore's F&B service sector reaches out to job seekers
By Dylan Loh | Posted: 05 November 2012 1412 hrs
SINGAPORE: Singapore's food and beverage service sector hopes to get more Singaporeans to join the industry and make up the core of new hires to fill positions ranging from rank-and-file to managerial.
The Food & Beverage Managers' Association, with the support of Workforce Development Agency (WDA), held its first career clinic on Monday at VivoCity shopping mall.
The one-day clinic aimed to provide job seekers with insights into career and training opportunities within the sector.
The clinic had 10 participating organisations, ranging from hotels to restaurants.
Career opportunities available in the industry include positions such as chefs, bartenders and servers.
Outreach efforts like this "career clinic" are organised to let the public understand the opportunities available in the industry, and entice more to join up.
About three out of 10 positions in food-and-beverage outlets here are waiting to be filled.
There are some 6,000 food and beverage establishments in Singapore. The boom in the sector is expected to continue its momentum in the coming years, which means more job openings in future.
Minister of State for Manpower and Health, Dr Amy Khor, said: "We need to continue to publicise and let Singaporeans know that there are good quality jobs in the industry with good training opportunities and career pathways and prospects. Even if they start at the bottom at the shop floor for instance, they can progress upwards and that there are many opportunities."
Back-to-work women and older workers are among those the government hopes can supplement the sector's manpower needs.
The government is encouraging firms in the industry to implement more flexible and part-time work arrangements so more can be attracted to join.
Subsidies and assistance schemes are also in place to help companies improve productivity through process and job redesigns so firms can reduce their manpower requirements.
In addition, WDA will continue to support the sector with skills upgrading programmes to increase the number of higher skilled workers.
Such programmes have allowed some to make a career switch and join the food-and-beverage industry.
Anil Kumar's passion for food was enough to convince him to cross over from the mechanical industry.
The 41-year-old earned a pastry and bakery diploma under the Workforce Skills Qualifications programme.
Starting as an intern in 2008, Anil has worked at a few places before becoming a service captain at the restaurant where he now works.
"I got bored with the job that I was doing before because it was pretty much a work that doesn't bring me anywhere. And the fact that I love food, that was the reason why I crossed over from mechanic to the food and beverage industry," he said.
Cheong Hai Poh, who is president of Food and Beverage Managers' Association of Singapore, said there are opportunities in the industry to help workers fast-track their careers.
Mr Cheong said: "You can be fast-tracked if you are performing well. You can move from a waiter to a captain within one to two years, and from a captain to assistant manager. It depends on your own performance, knowledge and skill."
- CNA/xq/fa
- wong chee tat :)
By Dylan Loh | Posted: 05 November 2012 1412 hrs
SINGAPORE: Singapore's food and beverage service sector hopes to get more Singaporeans to join the industry and make up the core of new hires to fill positions ranging from rank-and-file to managerial.
The Food & Beverage Managers' Association, with the support of Workforce Development Agency (WDA), held its first career clinic on Monday at VivoCity shopping mall.
The one-day clinic aimed to provide job seekers with insights into career and training opportunities within the sector.
The clinic had 10 participating organisations, ranging from hotels to restaurants.
Career opportunities available in the industry include positions such as chefs, bartenders and servers.
Outreach efforts like this "career clinic" are organised to let the public understand the opportunities available in the industry, and entice more to join up.
About three out of 10 positions in food-and-beverage outlets here are waiting to be filled.
There are some 6,000 food and beverage establishments in Singapore. The boom in the sector is expected to continue its momentum in the coming years, which means more job openings in future.
Minister of State for Manpower and Health, Dr Amy Khor, said: "We need to continue to publicise and let Singaporeans know that there are good quality jobs in the industry with good training opportunities and career pathways and prospects. Even if they start at the bottom at the shop floor for instance, they can progress upwards and that there are many opportunities."
Back-to-work women and older workers are among those the government hopes can supplement the sector's manpower needs.
The government is encouraging firms in the industry to implement more flexible and part-time work arrangements so more can be attracted to join.
Subsidies and assistance schemes are also in place to help companies improve productivity through process and job redesigns so firms can reduce their manpower requirements.
In addition, WDA will continue to support the sector with skills upgrading programmes to increase the number of higher skilled workers.
Such programmes have allowed some to make a career switch and join the food-and-beverage industry.
Anil Kumar's passion for food was enough to convince him to cross over from the mechanical industry.
The 41-year-old earned a pastry and bakery diploma under the Workforce Skills Qualifications programme.
Starting as an intern in 2008, Anil has worked at a few places before becoming a service captain at the restaurant where he now works.
"I got bored with the job that I was doing before because it was pretty much a work that doesn't bring me anywhere. And the fact that I love food, that was the reason why I crossed over from mechanic to the food and beverage industry," he said.
Cheong Hai Poh, who is president of Food and Beverage Managers' Association of Singapore, said there are opportunities in the industry to help workers fast-track their careers.
Mr Cheong said: "You can be fast-tracked if you are performing well. You can move from a waiter to a captain within one to two years, and from a captain to assistant manager. It depends on your own performance, knowledge and skill."
- CNA/xq/fa
- wong chee tat :)
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