As announced at MTI’s Committee of Supply (COS) debate on 6 March 2025, JTC will be granting an additional three years of lease, with payable land rent/premium, for all new greenfield industrial land allocations where building development is needed. This is in response to the recommendation from the AfA on Business Competitiveness1 as well as feedback from businesses that it may take up to three years to build and develop a piece of industrial land, reducing the productive period of their lease tenures and affecting the viability of their investments. The additional lease tenure will allow businesses to enjoy the full 20 or 30-year intended lease term on their completed facilities. The policy will take immediate effect.

Please click here for the full press release.

MINISTRY OF TRADE AND INDUSTRY
10 MARCH 2025