Forum: Extension gives businesses more time to manage transition
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We refer to Jeremy Ko Sheng Wei’s letter, “Responsible business that acted before lease expiry left in the cold” (Oct 6).
As the custodian of state land and properties, the Singapore Land Authority (SLA) puts sites that are not required for immediate development to interim use across business, community and recreational activities.
Interim-use tenancies are granted for specified periods and take into account the planning and development timelines of Singapore’s future land needs.
When the land is subsequently required for development, SLA works with the relevant agencies and master tenants to facilitate the timely return of sites.
SLA has been engaging the four master tenants at Punggol East and Tebing Lane ahead of their tenancy expiry on Dec 31, 2026.
Agencies recently met some of the affected businesses and the area’s grassroots advisers. Taking into account the operational and relocation challenges faced by these affected businesses, agencies reviewed their development requirements to explore if some further leeway could be given.
Following the review, the development timelines were adjusted by the relevant planning and development agencies, which allowed SLA to offer all four master tenants a final extension until Dec 31, 2027.
The final extension is intended to support affected businesses which are facing challenges managing their transition. We appreciate the efforts that some businesses have already made to plan their transition and secure alternative premises.
SLA and the relevant agencies will continue to engage affected businesses and, where possible, assist them with exploring suitable relocation sites.
Cheoh Wee Keat
Director
Leasing Division
Singapore Land Authority