For those who have, for example, bid a very high price, such as $10,000 or $8,000, in their first tenancy term, this price will hold. But following their first tenancy term, that price will be adjusted to the assessed market rent, which is about $1,800 to $1,500, thereabout. So, that will help to make the price more sustainable for this hawker in the longer term over the next tenancy terms. [Please refer to “Clarification by Senior Minister of State for Sustainability and the Environment“, Official Report, 9 September 2024, Vol 95, Issue 140, Correction By Written Statement section.]
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