Since 2001, the Government, through the Singapore Land Authority (SLA), has been giving rental relief rebates of 10 per cent plus 10 per cent to all its eligible tenants, lessees and licensees. The rebates expired on 30 June 2004. The Government recognises that although the economy is showing general signs of improvement, it may not have filtered down to all sectors. Accordingly, the Government has decided to extend the rebates for another six months, from 1 July to 31 December 2004. This extension is estimated to cost the Government about $3.36 million.

The rebates were given as part of the Government's relief measures to enable businesses to tide over the economic slowdown. This will allow businesses and industrialists to establish and strengthen themselves. In the next few months, the Government will review how the rebates will be phased out, taking into account the improving business conditions.

This extension will benefit about 370 tenants/lessees/licensees currently occupying commercial and industrial properties and farmlands on leases, tenancy agreements and temporary occupation licenses granted or issued by SLA. They will be notified of the extension of the rental rebates.

Issued by:
Singapore Land Authority
5 July 2004