The Real Estate Developers Association welcomed the government’s implementation of the “Pay for What You Build" Pilot Scheme and longer-term tenancies arrangements.
REDA believes that both measures provide the industry with flexible options.
They not only allow enterprises to advance long-term land development at their own pace but also enable them to test project feasibility at a lower cost to align with market conditions, the association said in a statement on Monday.
This holds appeal for businesses interested in establishing a presence in the Northern Metropolis, it said.
The association will continue to maintain close communication with the government and actively support various policy measures aimed at promoting industrial development in the Northern Metropolis, it added.
