Basis of Land Allocated for Sandcrawler Building and Breadtalk HQ
Ministry of Trade and IndustrySpeakers
Summary
This question concerns the direct allocation of industrial land for the Sandcrawler building and Breadtalk HQ and JTC’s resale policies for such sites. MP Chua Kheng Wee Louis inquired about the criteria for these awards and whether land should be exclusively resold to JTC. Minister for Trade and Industry Chan Chun Sing explained that JTC, EDB, and ESG assess factors like job creation, investment value, and land productivity. He stated that lessees must meet specific conditions, such as no-assignment periods and investment commitments, before being permitted to assign their leases to other parties. Minister Chan Chun Sing added that JTC may consider buying back land if there are alternative plans for site redevelopment.
Transcript
34 Mr Chua Kheng Wee Louis asked the Minister for Trade and Industry (a) whether the land for the Sandcrawler building and Breadtalk HQ have been awarded to Lucasfilm and Breadtalk respectively based on a direct allocation basis without an open tender and subject to business plans; (b) what is JTC's consideration before approving any sale; and (c) whether JTC will consider for land and buildings subject to direct land allocation to be only 'resold' back to JTC except under exceptional circumstances.
Mr Chan Chun Sing: JTC's role is to ensure that Singapore's limited industrial land is used to promote economic growth and create good jobs. In assessing land allocation applications from companies, JTC, together with EDB and ESG, considers a number of factors which contribute to Singapore’s economic growth, such as land productivity, the ability of the projects to create good jobs, the amount of investment the companies put in, and the companies' growth plans. The land for the Sandcrawler building and Breadtalk HQ were allocated after careful consideration of their business plans, and contributions to the info-comm and media and the F&B industries respectively.
Once allocated, lessees are not permitted to sell or assign their lease unless they meet certain conditions, such as fulfilling a no-assignment period or proposed investment commitments for the site. After meeting these conditions, JTC may allow its lessee to assign its lease to facilitate changes in its business needs, as long as the industrial land continues to be put to optimal use. JTC may also consider buying back the site if it has alternative plans for the site, such as redevelopment for other uses.