SINGAPORE: While some stallholders at the Geylang Serai Bazaar lament that they are losing money after paying over $20,000 in rental fees and not getting enough business, Minister of State Muhammad Faishal Ibrahim has praised the record number of visitors to the night market on social media.
Associate Professor Muhammad Faishal Ibrahim, serving his third term in Parliament as a People’s Action Party (PAP) MP, was made Minister of State for Home Affairs and National Development after the 2020 General Election. He is also the lead adviser of Wisma Geylang Serai.
Amid news headlines that Geylang Serai Bazaar stallholders are finding it hard to cope with escalating costs and hefty rental fees, Assoc Prof Faishal visited the night market this week but came away with a positive take of the situation on the ground.
Asserting that he had seen a big crowd no matter what time it was, the ruling party politician said on Instagram: “I am pleased to announce that we have now exceeded more than 2 million visitors who have come to Bazaar Raya Geylang Serai!…We are already on set to be on record of having the largest number of people coming to a Ramadan bazaar in Singapore.”
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He added that he spoke to some vendors to check on how they are doing and found that costs are no issue for these stallholders. He said, “Very happy to know that many of the businesses are doing very well, and some have even covered their rental cost after a week.”
However, some stallholders who recently spoke to Channel NewsAsia (CNA) had a completely different experience.
Mr Hasan, who sells kebab at his ‘Hasan Istanbul Kebab’ stall, told the news outlet that he regrets renting a stall at the market this year. Revealing that he paid a whopping $25,000 just for rental, he told CNA: “We’re all losing money. (We) cannot cover costs, cannot even cover rent.”
A stallholder selling Ramly burgers nearby, who paid $20,000 for renting his stall, added: “We regret taking it this year. It was okay in previous years.”
Several stallholders told CNA reporters that there appeared to be fewer visitors this year, while the reporters noticed no queues at most stalls in the vicinity, unlike in previous years.
Several lots at the popular night market remain vacant as the vendors continue to grapple with escalating costs, which includes thousands of dollars for electricity and the use of fans and wash basins, on top of the hefty rental fees that start from $14,000.
While some stallholders fear losing money, others say they anticipate making slim profits. One kebab stall owner, Mr Essam Ezz, told CNA that he is paying about S$30,000 for rent and expects 85% of his total earnings to cover the rental cost.
Mr Muhd Ridzuan, who sells burgers and fried snacks at his stall, says he may break even “but can only earn a bit, maybe 10 per cent” when it comes to profits.
Some stallholders attributed the poorer footfall to the greater number of night markets that have opened across the island this Hari Raya season, while others said the COVID effect may still be in play as footfall was higher pre-pandemic.
Several vendors opined that the organisers did not do enough when it came to repeat stalls selling identical products, which makes it difficult for stallholders to cover their costs.
But some are trying to overcome the challenges by using marketing tactics like social media and microphones on-site to increase business. The Messy Bros stall owner told CNA that he has already recovered close to 80 per cent of the S$38,000 he paid to rent two stalls.
The organizers, who spent $2.5 million to set up the bazaar this year, said in a statement earlier that the rental prices at the Geylang Serai Bazaar align with market rates. The tepid response from vendors has also led to the organisers allowing businesses to pay a percentage of their sales after the event has ended in a bid to fill spots.
https://theindependent.sg/stall-owners-selling-1-wadeh-say-they-pay-thousands-on-top-of-hefty-geylang-serai-bazaar-rent/