Enhanced industrial land lease framework

Arising from industry feedback for the Government to provide longer lease tenures and more flexibility in lease renewals, JTC reviewed the recommendations and announced enhancements to the industrial land lease framework.

1. Additional three years of lease tenure for all new greenfield industrial land allocations to cover businesses’ building and development period
2. New Flexible Lease Extension Initiative (FLEXI) scheme to allow eligible land lessees to extend their lease by up to two tranches of five-year extensions each
3. Bring forward the lease renewal application window from the current six years to ten years before lease expiry so that businesses can have greater certainty about their renewed lease tenure earlier.
4. Recognise auditable investments made by businesses in innovation, R&D, digital transformation and Intellectual Property (IP) creation

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