Residents and local business owners in Clementi recently expressed concern about property firm Elegant Group’s takeover of The Clementi Mall.
Elegant Group is linked to Guangzhou-based conglomerate Grantral Group which has already acquired a number of retail malls in Singapore including Grantral Mall @ Clementi.
The issue of a single owner controlling two malls within the same catchment area was raised in Parliament back in January.
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David Hoe (Jurong East-Bukit Batok GRC) asked whether the Competition and Consumer Commission of Singapore (CCS) considers the diversity of offerings and consumer choice in heartland malls.
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Senior Minister of State for Trade and Industry Low Yen Ling, in response to the parliamentary question, said the customer is king and market forces should be allowed to play out, but Singapore’s competition and consumer regulator will step in if consumer welfare is compromised.
Nevertheless, the changing retail landscape in heartland malls remains a cause for concern as consumers wrestle with legitimate worries about diversity while local tenants fret over rental spikes.
So, we want to know: Are Singapore malls losing their heartland flavour?
Related:
As Clementi Mall changes hands, residents worry over dwindling diversity
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