‘In normal times, malls hope to open with at least 90 per cent tenancy,’ said Ms Sherene Sng, head of retail at Knight Frank.
Orchard Central – Stats
Last October, the mall announced it was 60 per cent leased, at prices between $20 psf and $70 psf. Far East Organization’s deputy director of retail management, Ms Susan Leng, had said in December she would ‘be pretty happy if we can achieve an occupancy rate of about 80 per cent to 85 per cent…in this economic situation’.
Forfeiting of Rental Deposits
‘There have also been a few cases of tenants forfeiting their rental deposits, which typically amount to three months’ rent.’
Hmmm.. now I wonder… for my office leasing agreement, if I run away half way, does that means.. just forfeiting my one month security deposit?