BUSINESS PERFORMANCE OF CLEMENTI TOWN CENTRE AND CLEMENTI NEIGHBOURHOOD CENTRE 3 AFTER THE HDB SALE OF SHOPS PROGRAMME

Abstract

The Sale of Shops Programme, launched in 1992, is part of the government's effort to improve the productivity and allow restructuring of the retail market. This programme was implemented because the SME retailers were facing difficulties. The objective of the programme is to enable sitting shop tenants to own their own shops and help insulate against future rental revisions. This study attempts to find out whether business has improved after the Sale of Shops Programme using a town centre and a neighbourhood centre as case studies. If the programme is successful, shopkeepers will generally have better business. Surveys were carried out on both the shopkeepers and the shoppers in Clementi Town Centre and Clementi Neighbourhood Centre 3 to assess business performance. It was found that business in the town centre has generally improved compared to the neighbourhood centre after the Sale of Shops Programme. This can be attributed to the good location, good accessibility and better trade mix of the town centre.