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

“Following a review and adjustments to the development timelines, the agencies will be able to offer the four master tenants an extension of up to one year, until end-2027,” she said.

The extension is subject to the relevant tenancy and regulatory requirements, and is intended to give the businesses more time to work through their transition and business continuity plans, including engagements with their sub-tenants, Ms Yeo said.

Agencies including the Singapore Land Authority (SLA), JTC Corporation, NParks and the Housing and Development Board will also continue helping affected businesses explore alternative premises, Ms Yeo said.

This includes connecting them with relevant government landlords and agencies, with options within Punggol to be considered where available.

“I am glad that the agencies have been able to provide this additional flexibility,” Ms Yeo said.

She added that she hoped the extension would give businesses more time to prepare for the transition while allowing the community to continue using the spaces before the area is redeveloped.