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Commercial Property Food & Beverage

Staff Reporter

, Singapore

Published:

1 year ago

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SATS terminates lease on Jurong Innovation District site

It is in the process of evaluating sites to relocate the SATS Food Hub.

SATS is terminating its 30-year lease term for its SATS Food Hub’s (SFH) Bulim Lane location at Jurong Innovation District.

In an SGX filing, SATS said that it re-evaluated its plans for the food hub, noting “disruptions in the global supply chain” which in turn led to rising costs of materials, construction, and labour.

“After careful consideration, SATS has engaged JTC and other relevant parties on the plans for its SFH as part of a longer-term review. In relation thereto, the company has entered into an agreement with JTC to terminate the lease,” SATS said.

SATS said that it is in the process of evaluating sites to relocate its proposed SATS Food Hub to an alternate location.

SATS said that it is still committed to building the food hub operations in Singapore.

The SATS Open Innovation Centre, meanwhile, will continue to operate from its unique premises at the Arts House.

The company does not expect the lease termination to have a material impact on its assets and earnings for the financial year ending 31 March 2025.

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