Retailers given until 26 August in new tender deadline for Changi L&T tender

By Luke Barras-hill |

DFS-Terminal-3-Duplex-smallChangi Airport Group (CAG) has updated the deadline for interested parties wishing to bid on the duty free liquor and tobacco concession at Terminal’s 1,2,3 and 4.

Retailers were expected to lodge their submissions by 5 August after the tender was launched on 4 June, but this has now been pushed back until 26 August, confirms CAG in a note. TRBusiness has reached out to CAG for comment on the ‘delay’ to the process.

The current concession duration, which runs from 9 June 2020 to 8 June 2026, remains unchanged.

As reported, CAG in May announced it was issuing a new tender for the concession following DFS Group’s decision not to extend its contract. This covers 18 stores and more than 8,000sq m of retail space across the four terminals.

The timing of the DFS announcement is particularly surprising given the retailer only revealed its commitment to investing in the concession last December.

“DFS’ decision was based on our assessment that our investment plans for Changi Airport required a longer period to fully realise their impact,” Ed Brennan, Chairman and Chief Executive Officer, DFS Group said in a statement following the news it would not exercise its two-year extension. “DFS instead intends to bid in the new concession tender.”

Meanwhile, CAG and DFS have agreed to extend DFS’ current liquor and tobacco tenancy by two months until 8 June 2020.

Stay close to TRBusiness for further developments on this story…

 

 

 

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