Four master tenants at Punggol East, Tebing Lane offered lease extension of up to a year

Four master tenants operating in Punggol East and the nearby Tebing Lane will receive lease extensions of up to a year, potentially keeping their businesses operational until the end of 2027. This decision comes after City Sprouts, a social enterprise running the Punggol East container park, informed more than 50 tenants that they had to cease operations by October 31, 2022, before the lease for the site expired.

Punggol East GRC Member of Parliament Yeo Wan Ling expressed her hope that the extensions would provide businesses with additional time to prepare for the transition and business continuity plans, including discussions with sub-tenants. The extension is subject to tenancy and regulatory requirements and is meant to give businesses more time to work through their transition plans.

Various government agencies, including the Singapore Land Authority, JTC Corporation, NParks, and the Housing and Development Board, will continue assisting the affected businesses in exploring alternative premises. This includes connecting them with relevant government landlords and agencies, considering options within Punggol if available.

Ms Yeo expressed her satisfaction with the agencies' ability to provide this additional flexibility and hoped the extension would give businesses ample time to prepare for the transition while allowing the community to continue using the spaces before the area undergoes redevelopment.