Minister of State Muhammad Faishal Ibrahim announces new rental limits for 2024, aimed at reducing costs for stallholders.
Rental Costs for 2024 Geylang Serai Ramadan Bazaar Reduced
SINGAPORE — Stallholders at the highly anticipated Geylang Serai Ramadan Bazaar in 2024 will see rents capped at $15,000. This decision, announced by Muhammad Faishal Ibrahim, the Minister of State for Home Affairs and National Development, aims to make the bazaar more affordable for vendors and consumers alike.
According to Faishal, this initiative will benefit sellers by ensuring that costs are kept manageable, enabling them to offer more affordable items to consumers. The announcement follows growing concerns from bazaar stallholders, many of whom previously raised issues about high rental rates.
In 2023, rental costs for the bazaar ranged from $2,000 to $19,000, with additional premiums for specific food items like Ramly burgers, which incurred an extra $4,000 charge, and kebab vendors, who faced base rents as high as $25,000. Moreover, stallholders were also subjected to additional incidental costs—which could reach between $30 and $3,100—covering expenses for utilities, water supply, equipment, and furnishings.
A People’s Association (PA) spokeswoman confirmed that the Wisma Geylang Serai (WGS) team, responsible for the event, conducted a feasibility review. This review aimed to moderate rental prices, taking into account market forces while ensuring that the bazaar remains profitable.
Despite the cap, some stallholders, like Mohamad Haikel Suhaimi, who operated a Ramly burger stall in 2023, expressed concerns about the overall costs of operating at the bazaar. Haikel noted that aside from the rental price, he would have to consider electricity costs, labor, and the price of goods when deciding whether to participate again. He mentioned that many vendors struggled to break even in 2023 and some even faced losses.
This rental cap is expected to provide much-needed relief for stallholders, but some argue that it may not completely resolve the challenges posed by additional costs of doing business at the bazaar.
