27 July 2021
UPDATED: MERCATUS TO EXTEND SUPPORT TO TENANTS IMPACTED BY REVERSION TO PHASE 2 (HEIGHTENED ALERT)
With the tightening of community safe management measures by reversion to Phase 2 (Heightened Alert) from 22 July through to 18 August 2021, plans to resume normal businesses across all sectors have been delayed. In view of this unforeseen circumstance, Mercatus will continue to extend rental, operational and marketing support to affected tenants as we have done previously.
We also recognise that some of our tenants would be more adversely impacted by the measures and restrictions than others, and will be offering targeted support to affected tenants. Since the start of the pandemic, we have rendered support in the form of rental relief totalling more than $76m, inclusive of SME grants and property tax rebates, to help ease the financial burden of our tenants.
Following the government’s announcement made on 26 July 2021 requiring landlords to match their grant of two-week rental support to eligible tenants, we will be reaching out to our tenants with more information once details of this relief have been released by the Ministry of Law.
In addition to reinforcing precautionary measures to ensure the well-being of all our employees, shoppers, tenants and other guests, we have also ensured that front-liners and other essential workers are being taken care of. With more delivery service staff expected due to the no dine-in rule, we have reinstated designated areas within the respective food courts in Jurong Point, AMK Hub and Swing By @ Thomson Plaza for them, other essential service staff as well as our tenants’ employees to have their meals in comfort with social distancing measures in place. We are also extending grace periods at carparks to 30 minutes for delivery personnel to park their vehicles and make their deliveries.
Under the comprehensive Tenants’ Assistance Programme that was rolled out previously, we have benefited our shoppers as well as driven sales for our tenants, by offering $2.3m worth of discounted and free vouchers. To further help boost the sales of our tenants during this period, we will continue to provide customised promotional and marketing initiatives in the form of flash deals, takeaway guides with special deals and return e-vouchers which also serve to provide greater value to shoppers.As we continue to navigate the challenges brought on by the pandemic, we remain committed to working closely with our tenants towards recovery.