SINGAPORE, Oct. 4 -- Four master tenants at Punggol East Container Park and the nearby Tebing Lane will be offered a lease extension of up to one year, until the end of 2027.

This follows reports of Punggol East Container Park's closure on November 1 for future residential redevelopment.

Punggol MP Yeo Wan Ling said yesterday that she recently met the relevant agencies to discuss concerns raised by the businesses there regarding the upcoming expiry of their tenancies.

"Following a review and adjustments to the development timelines, the agencies will be able to offer the four master tenants an extension of up to one year, until end-2027," she wrote in a Facebook post.

"This will provide more time for them to work through their transit...