SINGAPORE: There have been no reported breaches of a code of conduct on fair lease negotiations since such guidelines came into effect more than a month ago, according to the industry committee overseeing the code.
Mr Loh stressed that the code of conduct aims to foster a “collaborative landlord-tenant ecosystem in the long term” to make Singapore’s retail scene more vibrant and competitive. From the private sector, there are currently seven major commercial landlords who have agreed to adhere to the guidelines.These include CapitaLand, City Developments and Frasers Property Retail.
Mr Ivan Koh, CEO of APM Singapore, said: “In times of uncertainty, the new code provides greater clarity which in turn will build trust and forge a stronger relationship between landlords and tenants.”