What does a land/property sub-lease really really mean?

When land is disposed off by the state authority to an individual in perpetuity for an indefinite period, this land is now granted as freehold title.

When land is disposed of by the state authority to an individual for a term of
years, e.g. 99 years, this land is now granted as leasehold title. Upon expiry of the period of the lease, the land should be reverted to the state authority. The owner will then have to either apply for a renewal of the lease before its expiry or apply for a fresh alienation if the lease has expired.These will involve the payment of a hefty premium which would be close to buying the land all over again with perhaps some
discount.

So, if i buy an apartment or massionette from wazuaproperties inc., and am issued a sub-lease of 99yrs starting 2002, does that mean i have rented the house for 89 year?
After 89yrs, it reverts to wazuaprnperties inc.

When you are granted a lease, it is on condition that you do with the land what the state has asked you to I.e. put up residential houses. If you don't do as per terms of the lease, the government has the right to repossess it and grant it to the next person who can do so. If you did what was supposed to be done, the state will not have any reason not to renew.

Not too sure about sub-leases but my assumption is that the Mother lease is granted to a holding company owned by the sub-lease owners, meaning it is the company to apply for lease renewal.