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Self-storage firms in 20 areas can operate until leases expire
The Straits Times
|January 25, 2025
Self-storage companies located in 20 areas around the island can stay put until their leases expire, following a review by industrial landlord JTC.
The agency said it will have further discussions with the companies on the continued use of such sites for self-storage, based on Singapore's industrial needs.
It is understood that JTC will allow self-storage facilities to be set up only in areas earmarked for light and clean industries that are not located in "core" areas.
JTC clarified that core areas are those prioritised for industrial use and include, among others, those in Boon Keng, Toa Payoh and Ang Mo Kio.
The good news, however, is that JTC has identified several locations, including Bishan, Clementi, Tampines and Woodlands, where industrial properties may be converted to self-storage use.
It said that "interested parties" can apply to JTC.
This announcement comes as JTC lifted a moratorium on the sector after a review to accommodate the increasing demand from the self-storage industry. The changes will take effect on April 1.
In a statement on Jan 24, self-storage companies will be allowed to go on operating at all their existing facilities until their leases expire. These range from two to four years at the short end, with the longer leases extending into 2030.
This story is from the January 25, 2025 edition of The Straits Times.
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