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In an unexpected turn of events, Balestier Market & Food Centre will not be closing after all, as its tenancy has been extended by another 2 years.
On 6 Feb, the vendors of Balestier Market were informed that the food centre would close on 15 Apr and that they had to move out. This of course left most of the vendors very emotional, since it would take immense effort for them to relocate within such a short time.
Unlike most food centres around Singapore, Balestier Market is not managed by the National Environment Agency (NEA). It has instead been run by a private company, KNC Global Pte Ltd since Apr 2013. The food centre’s contract was initially meant to end on 15 Apr as the hawkers had said that KNC Global was “unable to renew [it] with the government”, so the Singapore Land Authority (SLA) was reclaiming the land.
According to the SLA, KNC Global had been discussing a potential tenancy extension since Oct 2024, months before the expiry date. A possible extension of up to 2 years would be ideal to still allow businesses to move forward and make less rushed relocation plans.
Now that the tenancy has been extended by another 2 years and Balestier Market will not be closing, the hawkers can breathe easy. Businesses such as Bugis Street Chuen Chuen Chicken Rice and Kinta Hainanese Chop & Rice, which were supposed to move out, will remain on the premises.
In addition, there will not be a rent increase, so both hawkers and patrons do not have to worry about costs increasing as a result of the extension.
Now that Balestier Market will not be closing, don’t rush to bid it farewell just yet. Your favourite food stalls will most likely remain for another 2 years, so take your time!
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