Commercial Reinstatement after COVID-19
With the economic lock-down implemented ever since 7 April, everything came to a standstill. Malls shut, businesses stopped, employees laid off.
Fast-forward 2 months since. For the fortunate business operators, they find themselves revisiting what they left behind, untouched. For the unfortunate, they were left with no alternatives but to vacate.
With plenty of commercial business calling it quits, malls and offices were left owner-less. Having to return the space to tenants, these business owners now have to look for someone to demolish (also called reinstate) their commercial spaces.
However, there comes the problem: How could these owners afford to pay for the reinstatement works?
To provide some understanding, here’s a brief breakdown of the factors that entails for these owners:
- Workers still held up in dormitories, leading to manpower shortage.
- Construction companies seeing longer-term disruptions, would mark-up prices.
Workers still held up in dormitories, leading to manpower shortage.
With majority of the transmissions being in dormitories, it comes as no surprise that companies now lack the manpower required to perform their works.
Construction companies seeing longer-term disruptions, would mark-up prices.
As the title suggests, renovation companies who have majority of their workers housed in affected dormitories would most likely open in the 3rd quarter of 2020, or later. That said, in order to make-up for losses, renovation firms would inadvertently increase prices to make ends meet. Not to mention the manpower shortage mentioned earlier.
What about us?
Fortunately, our company has some workers that are not housed in the dormitories and thus, were spared the complete halt of our works. As such, we were able to perform reinstatement works among others since Phase 2.
While reinstatement does not always happen, this black swan event has definitely caused plenty of businesses to go under.
For readers whom are business owner, we wish you the best in the coming months.
Once again, we hope this issue of our design and build Singapore series has been informative. Till next time!
For more of our past works, do visit Portfolio at https://pna-int.com/portfolio-commercial-interior-design/
Should you have any queries for us, do contact us at +65 6481 8434. Alternatively, you may reach us at firstname.lastname@example.org