Property
Northshore Plaza struggles with store closures and falling footfall as rents rise and new mall draws crowds
Northshore Plaza in Punggol is grappling with declining business, store closures and rising rents, as tenants face growing pressure from the newer and more accessible Punggol Coast Mall nearby, according to a CNA report and interviews with residents and staff.
Northshore Plaza, a neighbourhood mall in Punggol, is seeing a sharp decline in retail activity, as tenants report rising rents and a significant drop in customers following the opening of the nearby Punggol Coast Mall.
A report by CNA on Tuesday found that at least 10 out of the mall’s estimated 50 retail spaces were either vacant or in the midst of tenant turnover.
Northshore Plaza comprises two connected sections — Plaza 1 and Plaza 2 — and was opened in phases between 2021 and 2022.
The newer Punggol Coast Mall, which opened last month following the December 2024 launch of Punggol Coast MRT station, has drawn away foot traffic.
Several tenants say this has created a challenging environment for businesses to survive.
A worker from Super Wok, a food stall at Northshore Plaza, told CNA that business has declined by around 30 per cent.
He explained in Mandarin that “a lot of residents prefer to go to Punggol Coast Mall, and residents won’t walk past Northshore Plaza on the way to Punggol Coast MRT station.”
Unlike the new mall, Northshore Plaza is open-air, a format that tenants suggest is less attractive than the air-conditioned alternative nearby.
The impact has been visible. CNA reported sparse lunchtime crowds and mostly empty food outlets. Even large retailers such as Decathlon and Nippon Home were quiet, with few customers seen browsing.
A staff member from Creamier, an ice cream chain, said business had fallen by up to 15 per cent. A dental clinic employee, who started working at the plaza in August 2024, said at least six businesses had closed down during that time, including Haidilao, a Japanese restaurant, and a pizzeria.
Rental increases are compounding the problem. A hairstylist at Kerluxe Hair Studio, who gave his name as Tan, said rents had increased by as much as 20 per cent over the 3.5 years he had been there. Creamier staff added that rental subsidies given to early tenants had gradually been withdrawn.
In response to growing public concern, Member of Parliament for Punggol Coast Janil Puthucheary posted a video on social media on 13 April, noting that most tenants had renewed their leases.
“Only a few of the lots are vacant, and HDB has received bids for new tenants to move in, and they will,” he said, while acknowledging that rents had gone up by 10 per cent for most shops. He said he was confident that new tenants would soon fill the gaps.
However, some residents and commentators are unconvinced that the problem can be addressed through tenant turnover alone.
In a LinkedIn post sharing CNA’s report, National University of Singapore accounting professor Mak Yuen Teen questioned the optimism, writing: “So it’s not a problem because there are new tenants? 🤔”
Property expert Ku Swee Yong responded, “Keep building more retail space… great for developers’ and contractors’ profits!!”
Among residents, the prevailing sentiment is that the mall has become less relevant for day-to-day needs. Joseph Ng, 31, said Northshore Plaza was unlikely to draw people from other areas and should focus on serving the neighbourhood.
“They need to cater for the residents, that’s why maybe shops like Haidilao were not doing so well, and had to close down,” he said.
A 34-year-old resident, Ang, pointed to the closure of seafood restaurant Dancing Crab. “We wouldn’t be eating Dancing Crab on a daily basis, it’s more of a weekend treat. They should have places open here with more affordable prices.”
Another resident, Axel Teo, described the current situation as a “vicious cycle” — with shops closing down, foot traffic dropping further, and more businesses at risk.
Punggol Coast Mall, by contrast, benefits from its location directly at the MRT station and its fully air-conditioned environment, making it a more comfortable and accessible choice for many.
