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HDB's industrial land, properties to be consolidated under JTC

Wednesday, October 19, 2016 - 11:02
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Industrial land and properties currently under the Housing & Development Board (HDB) will soon be consolidated under JTC Corporation (JTC) to better support small and medium-sized enterprises (SMEs) in their business growth.

INDUSTRIAL land and properties currently under the Housing & Development Board (HDB) will soon be consolidated under JTC Corporation (JTC) to better support small and medium-sized enterprises (SMEs) in their business growth.

Minister for Trade and Industry Lim Hng Kiang on Wednesday announced that in the first quarter of 2018, some 10,700 industrial units and 540 industrial land leases under HDB will be transferred to JTC.

Mr Lim said: "With this transfer, companies will only need to approach a single agency to access the full suite of public sector industrial facilities. JTC will also be able to better match companies' space needs across the different stages of their growth with a larger supply of industrial land and space, including its innovative facilities."

The affected tenants and lessees will continue to be served by the same team of HDB officers, who will be transferred to JTC. In addition, the contracted terms and conditions of their tenancies and leases with HDB will remain the same.

Over the next two months, both agencies will be engaging the tenants and lessees, as well as relevant business associations, to understand and address any concerns that they may have about the transition, and their future industrial space needs.

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