At the time, the group was operating its institutional catering business at several JTC-leased premises at 210, 212 and 234 Pandan Loop. The operations would have been transferred from the properties in Pandan Loop to the food hub. In its March 2022 release, the group said that the hub’s total development would have costed $150 million. The total land rent for the 30-year lease was estimated to be at $42.6 million.
SATS has entered into an agreement with JTC Corporation to terminate its lease at Bulim Lane.
On March 11, 2022, SATS announced that it agreed to a 30-year lease term at Bulim Lane, within the Jurong Innovation District for its food hub. The lease commenced on June 1, 2022.
