Terms and Conditions
Your land rent will be revised to market rent prevailing at the start of the new lease term. To assist you in adjusting to the land rent, you will be given rental concessions on a declining basis over the first four years of the new lease term.
- Building and Investment Period
Following JTC's approval of your lease renewal application, you will be granted three years from the date of our offer to carry out your proposed building extensions and to make the necessary investments in plant and machinery.
Within six months following the expiry of the building and investment period, you are required to submit an audited statement of all your investments in plan and machinery over the three-year period.
The audited statement will be used in confirming your lease entitlement. If there is a shortfall between your declared investments and your actual investments, the lease term offered to you will be prorated.
The period of lease renewal offered is based on your proposed gross plot ratio and business plan. Therefore, you will be tied to your declared gross plot ratio and P&M investments. If there is a shortfall in he investments and/or gross plot ratio, the lease term shall be prorated. Examples on prorating of lease term.
- Restriction on Sale of Premises
You are not permitted to assign or transfer your lease until after you have complied with your declared investments and plot ratio as stated in the Offer Letter.