JTC changes industrial property rules
[SINGAPORE] Industrialists and third-party facility providers such as property funds/developers who own industrial properties on JTC-leased sites will now be required to hold these properties for a longer period before they may sell them.
JTC has also extended the minimum occupation period for anchor tenants of third-party facility providers. The changes took effect on Nov 15. The move is aimed at safeguarding Singapore's scarce industrial land resources for optimal use by genuine industrialists and dampening property speculation.
Contacted by BT, JTC said the changes aimed to "ensure the lessees allocated our limited industrial land in their lease contract based on their proposed business plans remain committed to …
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
Digital Core Reit Q1 distributable income slips 2.4% to US$10.6 million
BT subscribers can now share 5 premium articles a month with unlimited number of non-subscribers
First Reit reports 3.2% lower Q1 DPU of S$0.006 amid interest rate, forex headwinds
Vietnam holds first gold auction in 11 years to stabilise market
How Hudson Yards went from ghost town to office success story
Hot stock: Nanofilm jumps 13.1% amid heavy trading on improved Q1 results