HDB bans subletting of industrial properties starting June

Existing contracts can be renewed until 2017.

The Housing and Development Board (HDB) today unveiled revisions to its subletting rules for industrial properties.

Starting June 1, 2015, new and existing tenants of HDB industrial properties will no longer be allowed to sublet their properties to "promote more responsible and productive use" of scarce industrial land in the country.

However, tenants with existing approved subletting arrangements can renew their contracts until December 31, 2017.

Tenants who are currently subletting their properties to wholly-owned subsidiaries or related firms will not be affected by the rules.

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