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Business Times
3 hours ago
- Business
- Business Times
Government to simplify change-of-use process for some commercial spaces: Chee Hong Tat
[SINGAPORE] The government intends to cut some real estate-related red tape for businesses, starting with streamlining its change-of-use process, said National Development Minister Chee Hong Tat. During an interview with the media on Tuesday (Aug 5), Chee said businesses currently require the Urban Redevelopment Authority's (URA) permission for change of uses within commercial spaces in JTC business parks, as well as community centres managed by the People's Association. This process takes about two weeks and costs S$500. URA's permission is required for land-based solar farm projects as well, with its application costing S$3,500, said Chee. 'We are working on streamlining the process, such that URA's permission will no longer be required for such proposals,' he said. 'Business owners will just need to obtain the respective landowners' consent and comply with the relevant authority's requirements for their proposals.' At the same time, the Ministry of National Development will propose a new legislation to formalise the Business Improvement District (BID) programme. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Since 2017, URA's BID programme has been piloted in areas such as the Singapore River, Marina Bay, Raffles Place and Tanjong Pagar. It aims to encourage stakeholders to take greater ownership to make the area more vibrant and attractive. Under the programme, the government provides seed funding of up to S$500,000 per annum, through a dollar-for-dollar match for membership fees collected. The money then goes towards stakeholder-led place management initiatives, including targeted marketing, hospitality and events. Given the pilot's positive feedback so far, Chee said the authorities hope to formalise the BID model and scale up to more precincts across Singapore, collaborating with businesses to drive place management efforts. 'This will make our precincts livelier, bring businesses more footfall and benefit our community with more lifestyle options,' he said. 'This includes working with the businesses via the BID model to revitalise our nightlife industry.' Chee added: 'Reviewing our rules and processes is an ongoing process that we will do, and I hope to work closely with the industry to find out which other areas we can help them in, to simplify our rules and processes, to cut red tape, and to bring down processing time and costs for businesses.' Earlier in June, the government also revealed plans under the Draft Master Plan 2025 to review Singapore's industrial land use zone guidelines , to better respond to evolving business needs. Chee said then that moving away from mono-use zones to mixed-use districts will give developers greater flexibility on industrial land and enhance Singapore's economic competitiveness. More business-white sites will be introduced around key transport nodes in the Jurong and Tuas industrial estates, on top of existing sites in Woodlands, URA added, in the Draft Master Plan 2025.
Express Tribune
01-08-2025
- Business
- Express Tribune
Pakistan, Vietnam to finalise PTA soon
Listen to article Vietnam Ambassador Pham Anh Tuan has said that Vietnam and Pakistan have agreed to consider striking a preferential trade agreement (PTA) as a strategic step for a stable legal basis to expand market access and reduce tariffs. After finalisation of the PTA, both sides would facilitate bilateral trade and investment to move towards a comprehensive free trade agreement (FTA) in future, the ambassador told APP in an interview on Thursday. He stressed that the fifth meeting of Pakistan-Vietnam Joint Trade Committee (JTC), held in Hanoi on July 11, 2025, marked a pivotal achievement for bilateral relations. Vietnam officially submitted the draft of PTA on July 8, 2025, with a list of more than 80 key export items, requesting Pakistan to consider reducing tariffs to 0-5%. Pakistan has welcomed Vietnam's initiative and pledged to study and hold negotiations this year, he said. The envoy said that reactivation of the JTC after eight years represents a strategic reset in bilateral relationship as the forum serves as a cornerstone for systematic cooperation and provides a structured mechanism for regular dialogue. The results achieved in the JTC included exchange of business delegations and organisation of fairs and exhibitions. The ambassador pointed out that in the meeting Vietnam asked Pakistan to create more favourable conditions for Vietnamese enterprises, which could participate in trade promotion activities in Pakistan, and invited Pakistan to attend major events in Vietnam such as Saigontex, Hanoitex, SaigonFabric and HanoiFabric. In return, Pakistan urged Vietnam to take part in exhibitions such as Texpo, HEMS and FoodAg. Vietnam highly appreciates Pakistan as the 14th largest fibre supplier to Hanoi and wants to increase import of cotton, fabric and raw material to serve its textile and garment export industry. To promote aquaculture cooperation, he said that although fish fillets accounted for 98% of Vietnam's seafood exports to Pakistan, the two sides agreed to remove barriers, address limited logistics and help in competition with other countries.
Business Times
24-07-2025
- Business
- Business Times
Singapore's industrial rentals rise in Q2 as occupancy edges down: JTC
[SINGAPORE] Rental rates of Singapore industrial properties rose 0.7 per cent for the second quarter, compared with the quarter before, JTC's latest quarterly market report released Thursday (Jul 24) indicated. Compared with Q2 2024, the rental index rose by 2 per cent, representing the 'smallest year-on-year increase' since 2021, said JTC. Business park rentals had the highest quarter-on-quarter growth at 1.2 per cent. The year-on-year growth for this segment stood at 2.3 per cent. The multiple-user factor segment logged 0.9 per cent growth on the quarter, and 2.2 per cent growth compared with the previous year. Both the single-user factory and warehouse segments logged 0.4 per cent growth compared to the prior quarter, with the former recording 1.1 per cent growth on the year and the latter posting 1.9 per cent growth. The price index of all industrial space climbed 1.4 per cent compared with Q1 and 5.5 per cent on the year. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Multiple-user factory prices rose 1.7 per cent on the quarter, and single-user factory prices climbed 0.4 per cent. Compared with the previous year's Q2, multiple-user factory prices grew 6.4 per cent and single-user factory prices gained 3.5 per cent. Overall occupancy rate for the industrial property market stood at 88.8 per cent, falling 0.2 percentage points compared to the previous quarter and the previous year. As at the end of Q2, there was 54 million square metres (sq m) of industrial property space, JTC said. The slight decline was attributed to substantial new completions, such as World Gateway 2 in the warehouse segment and JTC Space @ Ang Mo Kio in the multiple-user factory segment, JTC said. Notwithstanding this marginal decline, overall occupancy for the industrial property market has remained stable at around 89 per cent since 2023, JTC added. Meanwhile, the occupancy rate for business parks rose 0.8 per cent on the quarter as tenants moved into newly completed developments. In Q2 2025, demand for business parks rose by 63,000 sq m compared to Q1, JTC said.
Business Times
24-07-2025
- Business
- Business Times
Singapore industrial rents, prices rise in Q2 as occupancy edges down: JTC
[SINGAPORE] Rental rates of Singapore industrial properties rose 0.7 per cent for the second quarter, compared with the quarter before, JTC's latest quarterly market report released Thursday (Jul 24) indicated. Compared with Q2 2024, the rental index rose by 2 per cent, representing the 'smallest year-on-year increase' since 2021, said JTC. Business park rentals had the highest quarter-on-quarter growth at 1.2 per cent. The year-on-year growth for this segment stood at 2.3 per cent. The multiple-user factor segment logged 0.9 per cent growth on the quarter, and 2.2 per cent growth compared with the previous year. Both the single-user factory and warehouse segments logged 0.4 per cent growth compared to the prior quarter, with the former recording 1.1 per cent growth on the year and the latter posting 1.9 per cent growth. The price index of all industrial space climbed 1.4 per cent compared with Q1 and 5.5 per cent on the year. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Multiple-user factory prices rose 1.7 per cent on the quarter, and single-user factory prices climbed 0.4 per cent. Compared with the previous year's Q2, multiple-user factory prices grew 6.4 per cent and single-user factory prices gained 3.5 per cent. Overall occupancy rate for the industrial property market stood at 88.8 per cent, falling 0.2 percentage points compared to the previous quarter and the previous year. As at the end of Q2, there was 54 million square metres (sq m) of industrial property space, JTC said. The slight decline was attributed to substantial new completions, such as World Gateway 2 in the warehouse segment and JTC Space @ Ang Mo Kio in the multiple-user factory segment, JTC said. Notwithstanding this marginal decline, overall occupancy for the industrial property market has remained stable at around 89 per cent since 2023, JTC added. Meanwhile, the occupancy rate for business parks rose 0.8 per cent on the quarter as tenants moved into newly completed developments. In Q2 2025, demand for business parks rose by 63,000 sq m compared to Q1, JTC said.
Yahoo
22-07-2025
- Business
- Yahoo
JTC Team Virtual Investor "What's Your Story" Summer Spotlight On-Demand Conference Now Live
- Video webcasts from participating companies now available here FRENCHTOWN, NJ / / July 22, 2025 / JTC Team ("JTC"), a fully integrated corporate communications and investor relations firm, today announced the Virtual Investor "What's Your Story" Summer Spotlight On-Demand Conference is now live. For the event, management from the participating companies dove deeper into their dedication to their respective companies, how they got to where they are today and provided insight into why they are so passionate about the products and programs in development. The video webcasts from participating companies are now available: Akari Therapeutics, Plc (NASDAQ:AKTX) - WEBCAST Autonomix Medical, Inc. (NASDAQ:AMIX) - WEBCAST CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) - WEBCAST enVVeno Medical Corporation (NASDAQ:NVNO) - WEBCAST Exxel Pharma (Private) - WEBCAST GRI Bio, Inc. (NASDAQ:GRI) - WEBCAST iTolerance, Inc. (Private) - WEBCAST Kaida BioPharma (Private) - WEBCAST Moleculin Biotech, Inc. (NASDAQ:MBRX) - WEBCAST Nuwellis, Inc. (NASDAQ:NUWE) - WEBCAST Outlook Therapeutics, Inc. (NASDAQ:OTLK) - WEBCAST Palisade Bio, Inc. (NASDAQ:PALI) - WEBCAST Senti Biosciences, Inc. (NASDAQ:SNTI) - WEBCAST The on-demand presentations are available on the Virtual Investor website, as well as the Investor sections of the respective company websites. To access all Virtual Investor events, visit JTC Team and Virtual Investor Co. are paid consultants to the participating companies. JTC Team and Virtual Investor Co. are investor relations and corporate communications firms. Any content included in this release shall not be construed as an offer to purchase securities of the applicable companies. Interested parties are responsible for conducting their own due diligence and are encouraged to review the companies' websites and the SEC website for the latest information and filings on each company. About JTC Team JTC is a fully integrated investor relations firm that is dedicated to helping you tell your story to the right audiences in order to build awareness. JTC has developed a reputation of excellence for executing on robust communication strategies that deliver results. The Company partners with both public and private companies across the Life Sciences and Technology industries to help raise awareness and build stakeholder value. For more information, please visit or connect with the company on X and LinkedIn. Contact: Jenene ThomasJTC Team, LLCT: +1 (908) 824-0775jtc@ SOURCE: JTC Team, LLC View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
