A third-party facility provider is an entity that:
Third-party facility providers can be:
This scheme allows an industrialist to appoint a third-party facility provider to develop a facility that is customised to their specifications and needs.
Once the facility is completed, the industrialist will lease the facility from the third-party facility provider. The terms and conditions of the lease will be determined and agreed between both parties.
The industrialist will become the anchor tenant and must occupy at least 70%* of the Gross Floor Area (GFA) of the facility. The anchor tenant will also need to fulfill a minimum Termination Prohibition Period (TPP).
Under this scheme, an industrialist can sell a completed facility to a third-party facility provider. The industrialist will subsequently lease it back from the third-party facility provider. The industrialist will become the anchor tenant and must occupy at least 70% of the Gross Floor Area (GFA) of the facility.
If the original anchor tenant leaves, third-party facility providers can apply via the customer service portal to replace them with new anchor tenant(s).
The proposed new anchor tenant(s) must continue to occupy at least 70% of the GFA. If there is more than one anchor tenant, each one must occupy at least 1,000 sqm.
The proposed new anchor tenant(s) must also meet JTC's assessment criteria based on:
During the subletting period, if the anchor tenant(s) wish to increase/decrease their GFA by more than 20% or change their usage, the third-party facility provider will need to re-apply to JTC for the anchor subletting.
The remaining 30% of the GFA can be sublet to other businesses. However, this is subject to JTC's assessment of usage compatibility, as well as payment of applicable subletting fees.
Further details on the subletting policy can be found here.