Zouk nightclub secures 5-year lease extension
Zouk's chief executive said the lease renewal means a renovation and diversification towards F&B and live music offerings.
SINGAPORE – Zouk Singapore, the Republic's longest-running nightclub, has secured a lease renewal from landlord CapitaLand that will keep the iconic venue's doors open until 2031.
Zouk's new lease will commence in June 2026, following the expiration of its current agreement in May 2026.
The River Valley Road nightclub, which first launched in 1991 on Jiak Kim Street, is Clarke Quay's anchor nightlife tenant and has long been one of Singapore's defining nightlife establishments.
Mr Andrew Li, Zouk Group's chief executive, told The Straits Times in an email statement that there are no changes to the leasing terms regarding operating hours. But the company intends to extend the operating schedule for several of its venues, by increasing both the number of operating days and daily operating hours, he said.
The nightclub currently comprises three spaces: Zouk, its flagship; Capital, aimed at working professionals; and Phuture, aimed at young adults.
Asked about what lies ahead for the venue, Mr Li said: 'We believe that our new set-up and renovations will enable us to develop new verticals by integrating food and beverage offerings and live performances.'
Mr Li described these as 'additional revenue streams' which also enhance the overall guest experience.
This strategy of diversification reflects
broader industry pressures faced by nightlife venues in Singapore, including high operating costs, shifting consumer preferences toward sober experiences, and
shifting appeal among Gen Z .
Mr Li previously told ST that 2022 marked the nightclub's best year yet, due to post-Covid revenge partying, though business has softened in subsequent years.
Amid evolving consumer tastes, Zouk has also sought to transform itself through enhanced music and events programming, featuring sell-out international acts such as American DJ Illenium.
Zouk's evolution also reflects broader changes in the Clarke Quay area, which underwent a
$62 million rejuvenation project into a day-and-night destination that was completed in 2024.
The nightclub moved to its current location in 2016, after a quarter-century spent in its previous home on Jiak Kim Street.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
an hour ago
- Straits Times
DBS Q2 profit up 1% to $2.82 billion on strong wealth fees and trading income; beats expectations
Sign up now: Get ST's newsletters delivered to your inbox DBS Bank declared an interim dividend of 60 cents per share and a capital return dividend of 15 cents per share. SINGAPORE - Singapore's largest bank on Aug 7 posted a 1 per cent rise in net profit for the second quarter, lifted by strong wealth fees and trading income. Net profit for the three months to June 30 was $2.82 billion, up from $2.8 billion a year earlier, beating the $2.79 billion forecast by analysts in a Bloomberg poll. The bank declared an interim dividend of 60 cents per share and a capital return dividend of 15 cents per share. The dividend payout is estimated to be about $2.13 billion. Chief executive officer Tan Su Shan said in a statement: 'Our ability to manage the balance sheet nimbly, grow deposits and capture market opportunities helped offset the external pressures.' Commercial book net interest income fell 4 per cent to $3.63 billion. This came as net interest margin declined 28-basis-points to 2.55 per cent from 2.83 per cent a year earlier as interest rates trended lower. Net fee and commission income grew 11 per cent to $1.17 billion from $1.05 billion a year earlier. Treasury customer sales and other income increased 9 per cent to $522 million from $478 million a year ago. Fee income was led by the wealth management segment, which saw fees surged to $649 million in the quarter, up from $518 million a year earlier. Markets trading income soared 124 per cent to $418 million from $187 million a year ago. Top stories Swipe. Select. Stay informed. Singapore Some ageing condos in Singapore struggle with failing infrastructure, inadequate sinking funds World Trump eyes 100% chips tariff, but 0% for US investors like Apple World White House says Trump open to meeting Russia's Putin and Ukraine's Zelensky Singapore MRT track issue causes 5-hour delay; Jeffrey Siow says 'we can and will do better' Singapore ST Explains: What is a track point fault and why does it cause lengthy train disruptions? Singapore ST and Uniqlo launch design contest for Singapore stories T-shirt collection Asia Malaysia plans barrierless toll system modelled after Singapore's ERP Singapore S'pore and Indonesia have discussed jointly developing military training facilities: Chan Chun Sing Return on equity fell to 16.7 per cent in the second quarter from 18.2 per cent in the same period a year ago. Singapore's largest bank by assets said that the impact of lower interest rates was mitigated by balance sheet hedging and partly offset by strong deposit growth, which funded loans and an increased deployment into liquid assets. Customer deposits grew 4 per cent to nearly $574 million in the quarter from $551 million a year ago while loans were up 2 per cent to $433 million. DBS maintains its 2025 targets which include group net interest income to come slightly above 2024 levels, commercial book non-interest income growth to be mid- to high-single digits and net profit to be below 2024 levels. DBS reported earnings on the same day as UOB, whose earnings fell 6 per cent to $1.34 billion, missing expectations. Their results followed OCBC Bank, which on Aug 1 posted a smaller-than-expected drop in net profit as declining interest rates weighed on net interest income.
Straits Times
an hour ago
- Straits Times
Codelco asks to restart part of El Teniente mine after accident
Sign up now: Get ST's newsletters delivered to your inbox SANTIAGO - Copper miner Codelco has asked Chile's mining regulator for permission to reopen a part of its flagship El Teniente mine after a collapse last week that killed six people, said two sources with knowledge of the matter. Codelco suspended mining operations at El Teniente, the world's biggest underground copper mine that produced more than 300,000 metric tons last year, on Thursday evening. Chilean mining regulator Sernageomin later imposed a formal suspension, and instructed Codelco to present four reports related to the cause and impact of the accident so it could evaluate lifting the measure. In a statement on Wednesday evening, Codelco said it had responded to three information requests from mining regulator Sernageomin and Chile's labor inspection office. REUTERS
Straits Times
an hour ago
- Straits Times
UOB Q2 profit drops 6% to $1.34 billion, missing forecast
Sign up now: Get ST's newsletters delivered to your inbox UOB declared an interim dividend of 85 cents per share and special dividend of 50 cents per share. SINGAPORE - UOB on Aug 7 posted a 6 per cent drop in net profit for the second quarter of 2025, as net interest income fell due to declining interest rates. Net profit for the three months to June 30 was $1.34 billion from $1.43 billion in the year-ago period, missing the $1.48 billion forecast in a Bloomberg poll of analysts. This was also a 10 per cent drop compared to its earnings of $1.49 billion in the previous quarter, which was also below analyst expectations. UOB declared an interim dividend of 85 cents per share for the half year, down from 88 cents a year ago. Shareholders will also get a second tranche of special dividend of 50 cents per share - part of the bank's capital distribution package announced in February. Net interest income for the quarter fell 3 per cent toS$2.34 billion. This came as net interest margin dropped 14 basis points to 1.91 per cent from 2.05 per cent a year ago. Non-interest income increased 5 per cent to $1.13 billion For the first half year, net profit fell 3 per cent year on year to $2.83 billion. UOB cited pre-emptive general allowance set aside as part of the group's risk management measures amid the macroeconomic uncertainties. Top stories Swipe. Select. Stay informed. Singapore Some ageing condos in Singapore struggle with failing infrastructure, inadequate sinking funds World Trump eyes 100% chips tariff, but 0% for US investors like Apple World White House says Trump open to meeting Russia's Putin and Ukraine's Zelensky Singapore MRT track issue causes 5-hour delay; Jeffrey Siow says 'we can and will do better' Singapore ST Explains: What is a track point fault and why does it cause lengthy train disruptions? Singapore ST and Uniqlo launch design contest for Singapore stories T-shirt collection Asia Malaysia plans barrierless toll system modelled after Singapore's ERP Singapore S'pore and Indonesia have discussed jointly developing military training facilities: Chan Chun Sing Operating profit for the half year rose 3 per cent to $4 billion, underpinned by broad-based double-digit growth in fee income. In a statement, chief executive officer Wee Ee Cheong said that the bank remains confident in the long-term prospects in South-east Asia as the world transitions to a multipolar world order. Banks are seeing their net interest margins squeezed with interest rates low or falling, as the difference between what they earn on loans and what they pay on deposits narrows. UOB announced on Aug 1 that it will be cutting rates for its flagship UOB One account from Sept 1 - the third such reduction in the past two years. This follows on the heels of OCBC, which dropped rates for the second time this year on its 360 account from Aug 1. UOB shares closed at $36.45 on Aug 6, up 0.2 per cent.
