The Singapore government’s plans for the Jurong Lake District (JLD) include the redevelopment of the JCube site into JCube Residence, a 40-storey residential and commercial development. This move comes after CapitaLand Development (CLD) obtained provisional permission from the Urban Redevelopment Authority to redevelop the site. This move has been met with anticipation due to the potential for residential launches in the area.
JCube Residence will be connected to Jurong East MRT interchange, Westgate and IMM Building via J-Walk, a covered elevated pedestrian network in the JLD. Eventually, it will be linked to the upcoming Jurong East Integrated Transport Hub, which boasts a bus interchange, public library, community club and sports centre, among other amenities. It is expected to launch for sale in the second half of 2023, and observers are estimating a S$2,000 to S$2,100 per square foot (psf) price tag for JCube Residence residential units.
The redevelopment of JCube into JCube Residence is part of the Singapore government’s plans to bring new homes, along with new businesses, recreational facilities and amenities to the JLD. The potential new launches including JCube Residence condo will help to alleviate pent-up demand for housing in Jurong, given the lack of new condo launches in recent years. Property analysts are expecting the new JCube Residence to have an average selling price of S$2,100 psf and upwards, aligned with recent launch prices of the outside of central region developments.
The potential new launches will likely boost home prices in the resale market and possibly have a spillover effect on the Bukit Batok and Clementi areas near JCube Residence. This will be a great benefit to those living in the area, having access to the many amenities and recreational facilities nearby. JCube Residence is also home to Singapore’s first and only JCube Condo Olympic-sized ice skating rink, and CLD is working closely with JCube’s tenants to ensure a smooth handover of the premises.
The closure of JCube marks the end of an era, but it is also a welcome development as it will lead to the creation of JCube Residence and other potential launches in the area. It is expected that this will help alleviate pent-up demand for housing in Jurong and boost home prices in the resale market. Residents in the area will benefit from the many amenities and recreational facilities near JCube Residence.
JCube Condo is a new residential and commercial development set to be built on the grounds of JCube, a leisure and edutainment complex located in the Jurong East region of Singapore. Set for completion in 2027, the 40-storey development will be connected to Jurong East MRT interchange, Westgate and IMM Building via J-Walk, a covered elevated pedestrian network in the Jurong Lake District (JLD).
The Singapore government’s plans for the Jurong Lake District (JLD) include new homes, businesses, recreational facilities and amenities. JCube Condo will help to achieve the government’s goals, offering 1,760 private homes and 150,000 square metres of office space, as well as 75,000 square metres of complementary uses such as for retail, hotel or community.
JCube Condo will also be connected to the upcoming Jurong East Integrated Transport Hub, which boasts a bus interchange, public library, community club and sports centre, among other amenities. This will be a great benefit to those living in the area, having access to the many amenities and recreational facilities nearby.
Property analysts are expecting the new JCube Condo to have an average selling price of S$2,100 psf and upwards, aligned with recent launch prices of developments outside of the central region. This may help to alleviate pent-up demand for housing in Jurong, given the lack of new condo launches in recent years.
The potential new launches, including JCube Condo, may also boost home prices in the resale market and possibly have a spillover effect on the Bukit Batok and Clementi areas. Desmond Sim, chief executive of Edmund Tie, believes that demand for affordable suburban housing will still be relevant, noting that “the perfect price will still garner interest”.
The redevelopment of JCube for JCube Condo, along with the other potential launches in the area, come as a welcome development for the region. The new development will complement the Singapore government’s plans to bring new homes, along with new businesses, recreational facilities and amenities to the JLD. With the JCube Condo slated for completion in 2027, it will be interesting to see how the area develops in the years to come.