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HDB's industrial properties to be transferred under JTC
Some 10,700 units, 540 land leases will be under JTC by 1Q18.
Industrial properties including units and land leases under the Housing and Development Board (HDB) will now be transferred to JTC Corporation as the Singapore government beefs up its support for small and medium-sized enterprises (SMEs).
In a speech, trade minister Lim Hng Kiang announced that by the first quarter of 2018, some 10,700 industrial units and 540 industrial land leases will be consolidated under JTC.
He explained that this would make it easier and quicker for companies to find the most suitable premises for their business needs.
"With this transfer, companies will only need to approach a single agency to access the full suite of public sector industrial facilities. JTC will also be able to better match companies’ space needs across the different stages of their growth with a larger supply of industrial land and space, including its innovative facilities," the minister said.
He furthered that with the consolidation of the land and facilities under a single agency, the state will be able to undertake a more holistic and comprehensive master-planning of industrial estates across Singapore.
"By consolidating public sector industrial facilities under one agency, the Government aims to better support the space needs of manufacturing companies, and also make better use of infrastructure to help them strengthen their competitiveness," minister Lim said.
However, he noted that this would need paying close attention to the impact on the affected tenants and lessees. He mentioned that both agencies will engage these stakeholders over the next two months to address any concerns about the transition.
"We want to ensure a seamless transition for the affected companies. The HDB officers currently serving them will be transferred to JTC, and will continue to serve the customers. We will ensure a smooth transition," the minister assured.
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