Lease Policy

Press release issued by Ministry of Law on waiver of building premium

The Government has further reviewed the policy on the charging of a building premium when renewing a State lease. The Government has decided to waive the building premium when a lease renewal is granted because this will encourage lessees to continue to invest in the upkeep and improvement of the property,

Government’s Policy on Lease Renewal

Government’s Considerations when Allowing Lease Renewal

The considerations in evaluating lease renewal applications will evolve as our socio-economic circumstances and development priorities change. Notwithstanding the above general principles, each case has to be assessed individually based on the specific circumstances of the site and the Government as the lessor reserves the discretion to decide whether to allow lease renewal; and if so, the terms of the lease renewal.

Supplementary questions on Announcement of Waiver of Building Premium

Waiver of Building Premium

The Government is prepared to consider applications for lease renewals in respect of such cases on a case by case basis.