Question

Assoc Prof Jamus Jerome Lim: To ask the Deputy Prime Minister and Minister for Trade and Industry (a) what are the considerations that JTC Corporation (JTC) takes into account in determining the terms for rental contracts for its industrial facilities; and (b) whether JTC will consider medium-term leases beyond the current one to three years.

Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong

1. Industrial spaces are offered to businesses typically on three-year tenancies, aligned with standard market practice. Renewal of tenancy is also typically for three years, and is generally offered unless there are breaches to the tenancy agreement. The JTC Corporation also allows flexibility beyond the standard tenure on a case-by-case basis.