SINGAPORE: All industrial land and properties under the Housing & Development Board (HDB) will be transferred to JTC in the first quarter of 2018, Minister for Trade and Industry (Trade) Lim Hng Kiang announced on Wednesday (Oct 19).
The transfer, which will affect about 10,700 industrial units and 540 industrial land leases, will help the Government to better support small- and medium-size enterprises (SMEs), HDB and JTC said in a joint press release.
With the consolidation, SMEs will only need to approach a single agency for their land and space needs, Mr Lim noted. Currently, some companies deal with both organisations for tenancy and land lease matters.
“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,” he said.
The consolidation also means that capabilities and resources will be pooled under one agency for increased efficiency. It will also help the Government to undertake “more holistic and comprehensive master-planning” of industrial estates, and to better cluster complementary activities, Mr Lim added.
Affected tenants and lessees will continue to be served by the same team of HDB officers, who will be transferred to JTC. The contracted terms of their tenancies and leases with HDB will also remain unchanged.
Both agencies said they will engage tenants and lessees, as well as relevant business associations, on any concerns they have about the transfer.