Gov’t ramps up efforts to attract global talent

Tenancy agreements will be for a fixed term of three years beginning 1 January 2025.The Food and Environmental Hygiene Department (FEHD) has announced that 96 market stalls across 22 public markets will be available for rent on a first-come, first-served basis from 14 to 18 November, excluding weekends.These stalls, which were not previously leased at open auctions, will be rented at a minimum price. In prior auctions, stalls vacant for more than six months were initially set at 80% of the open market rent (OMR), whilst those vacant for over eight months were set at 60% of the OMR.Occupiers can sell fresh and frozen meat, fish, fruits, vegetables, ready-to-eat food, dry and wet food-related goods, as well as non-food dry and wet goods.Tenancy agreements will be for a fixed term of three years beginning 1 January 2025, without renewal rights upon expiry. Rent amounts will depend on factors such as stall size, location, vacancy duration, and the upset prices from previous auctions.To encourage broader participation and stall variety, restrictions will be placed on the number of stalls any single tenant can occupy. Existing tenants under the three-year fixed term tenancy scheme may also select one additional stall within the same market, but must vacate their current one before commencing a new tenancy.Applications must be submitted in person at FEHD offices during specified hours.

Four in five sub-indices recorded increases.

It decreased from US$422.8b in September.