Tue Sep 17 07:16:51 UTC 2024: ## Singapore: Times Bookstores Closes After Nearly Four Decades, STT GDC Invests $3.2 Billion in Indian Data Centers

**Singapore, September 18, 2024** – Times Bookstores, a familiar sight on the Singaporean retail scene for almost four decades, is closing its doors for good. The last remaining outlet at Cold Storage Jelita on Holland Road will shut down on September 22, marking the end of an era for the English book retailer.

The closure, announced on Instagram, cites high rents, low sales, and rising operational costs as contributing factors. The company has faced challenges in recent years, closing outlets at Marina Square, Paragon, Plaza Singapura, Waterway Point, and Centrepoint.

This closure reflects the wider struggle faced by physical bookstores in Singapore, struggling against rising rents, higher GST, and increased printing costs.

Despite this setback, Singapore’s literary community is still finding ways to support bookstores, with Books Kinokuniya, the largest bookstore chain in Singapore, maintaining its flagship store at Takashimaya Shopping Centre.

Meanwhile, ST Telemedia Global Data Centres (STT GDC) is making a significant investment in India’s digital economy. The company announced a US$3.2 billion investment to expand its data centre capacity in India by 550MW, nearly tripling its existing capacity. The move aligns with India’s Digital India vision and aims to support the country’s growing data consumption, cloud computing, and AI adoption.

The investment reflects STT GDC’s confidence in India’s digital infrastructure needs and its commitment to supporting the country’s digital transformation. The announcement follows a Business Roundtable with Indian Prime Minister Narendra Modi, further emphasizing STT GDC’s engagement in the Indian market.

The news of Times Bookstores closure and STT GDC’s investment highlight the contrasting realities of Singapore’s economic landscape: while some sectors struggle to survive, others are thriving through strategic investment and adaptation.

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