JTC has updated its posted rents and prices with effect from 1 January 2014. In our regular review, we are mindful of the need to reflect market conditions while keeping business costs competitive for industrialists. For this review, JTC is keeping almost all our posted rents and prices of industrial land and ready-built facilities at their current levels. Overall, the rents and prices for JTC industrial land and ready-built facilities remain very competitive compared with the prevailing market rates. We will continue to monitor the market closely and stay responsive to market trends.
For existing lessees, any revisions to their current contracted rents shall continue to be limited by their rent revision caps as provided in their contracts. For existing tenants whose tenancies are due for renewal, the first year increase, if any, will be capped at 10%. We will be informing the affected customers separately on the details of the new rent.
You can now view the updated list of rates on our corporate website.