LUR is not much different than leasehold property in the US or London, where it is a tangible asset.
When posters refer to "rights granted," I think this a little misleading. It's not like the government gives SIAF a right to use the land and can take it away. The plots of land have long lease lives, and are usually bought from or sold to private entities. Zoning may be changed and value changed as a result.
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