The leasing of state property and assets are managed by the Singapore Land Authority. Who is allowed to rent them?
Leasing state property
For individuals, those awarded with the tender upon a successful bid are required to seek approval to incorporate a new company or use an existing company in Singapore with limited liability to execute the tenancy agreement. When tendering to lease state property, the highest bidder may not necessarily be the one awarded the property. In evaluating the bids submitted, SLA states that it "considers among other factors - the tendered price, concepts, proposed uses, track record and financial health of the bidders."
Less than one kilometre away is 36 Ridout Road, which SLA said had been vacant for more than six years since July 2013 before it was tenanted to Dr Balakrishnan. The minister had put in a bid in November 2018 and came out as the highest tenderer. The tenancy was granted to him in October 2019 and renewed by him in October 2022.
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