CapitaLand’s JCube Condo to Revamp Jurong East with 1,760 Private Homes and 150,000 Sq M of Office Space
Singapore’s urban landscape is set to undergo a major transformation with the launch of CapitaLand’s new residential development, JCube Condo, at Jurong East. With 1,760 private homes and 150,000 sq m of office space, the development is slated for completion in 2027 and will be a major boost for the area.
JCube Condo is the latest project from CapitaLand Development (CLD), the development arm of CapitaLand Group. CLD obtained provisional permission from the Urban Redevelopment Authority to redevelop the JCube site, it announced on Tuesday (Feb 7). Observers are estimating a S$2,000 to S$2,100 per square foot (psf) price tag for JCube Condo residential units.
The new 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). Eventually, it will be linked to the upcoming Jurong East Integrated Transport Hub, which boasts JCube Condo a bus interchange, public library, community club and sports centre, among other amenities.
The redevelopment of JCube will complement the Singapore government’s plans to bring new homes, along with new businesses, recreational facilities and amenities to the JLD. It adds to anticipation over potential residential launches in the vicinity, including a 6.8-hectare mega white site on the confirmed list of the first half of the 2023 government land sales programme. The white site will be sold to a master developer which will build up to 375,000 square metres (sq m) in gross floor area (GFA) in the next five to 10 years. This includes 1,760 private homes, 150,000 sq m of office space, and 75,000 sq m of complementary uses such as for retail, hotel or community.
CLD expects to launch the new JCube Condo development for sale in the second half of 2023, said chief executive Tan Yew Chin. Exact details of JCube Condo pricing as well as the number and size of the units, have yet to be disclosed.
The potential new launches including JCube Condo will help to alleviate pent-up demand for housing in Jurong, given the lack of new condo launches in recent years, noted property analysts. “Residential homes in Jurong Lake District may be attractive in the long term, as regions zoned for infrastructural growth and substantial transformational works tend to see faster capital appreciation,” said Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie.
In terms of pricing, Lee expects the new JCube Condo residential project 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. On top of major tenants JCube Condo like Don Don Donki, Haidilao and Daiso, JCube Condo is also home to Singapore’s first and only Olympic-sized ice skating rink.
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 to JCube Condo, said Lee Nai Jia, PropertyGuru’s head of real estate data intelligence, digital and software solutions.
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”.
JCube Condo will be a great benefit to those living in the area, having access to the many amenities and recreational facilities nearby. CLD is working closely with JCube’s tenants to ensure a smooth handover of JCube Condo premises and the mall’s last day of operations is Aug 6.
JCube Condo will be a major boon for the region, and the potential new launches including JCube Condo will help to alleviate pent-up demand for housing in Jurong. With 1,760 private homes and 150,000 sq m of office space, the development is slated for completion in 2027 and will be a major boost for the area. It will be connected to Jurong East MRT interchange, Westgate and IMM Building via J-Walk, and eventually to the upcoming Jurong East Integrated Transport Hub.
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 the outside of central region developments. JCube Condo will likely boost home prices in the resale market and possibly have a spillover effect on the Bukit Batok and Clementi areas.
The redevelopment of JCube for JCube Condo, along with the other potential launches in the area, come as a welcome development for the region. With its many amenities and recreational facilities, JCube Condo will be a great benefit to those living in the area. CLD is working closely with JCube’s tenants to ensure a smooth handover of JCube Condo premises and the mall’s last day of operations is Aug 6.
One of Singapore’s oldest shopping malls, JCube, will be redeveloped into a luxurious condominium and office complex. The redevelopment project is part of CapitaLand’s ambitious vision to rejuvenate Jurong East, a once sleepy neighborhood located in the western part of Singapore.
The new development, which is expected to be completed by 2027, will include 1,760 private homes and 150,000 square meters of office space. It will also feature a 40-storey residential tower and a public library, alongside a community club, sports center, and a new air-conditioned bus interchange.
The new development will be connected directly to the Jurong East MRT interchange station, Westgate, and IMM Building via J-Walk, an elevated pedestrian network. It will also be linked to the upcoming Jurong East Integrated Transport Hub, which will include an air-conditioned bus interchange and a public library, among other commercial spaces.
CapitaLand’s chief executive, Tan Yew Chin, said that the development is expected to be launched for sale in the second half of 2023. He added that the development is expected to become Singapore’s largest business district outside the central area and will provide about 100,000 new jobs and 20,000 new homes between 2040 and 2050.
The development will be a major boon to the Jurong East area, which has long been overlooked in comparison to other areas in Singapore. With the new development, residents will be able to enjoy the convenience of being near an MRT station and other amenities such as a public library, a community club, and a sports center.
The redevelopment of JCube is not the only project that CapitaLand is undertaking in Jurong East. The company is also developing a new integrated development project, called J Gateway, in the area. This project will feature a mix of office, retail and residential units and is expected to be completed by 2023.
These two projects are part of CapitaLand’s larger vision to put Jurong East on the map as a major business and commercial hub. The company believes that the area has great potential and can be transformed into a vibrant and attractive destination for both businesses and residents.
The development of JCube and J Gateway will also bring more job opportunities to the area, as the projects will require a large number of skilled workers. This will be a major boost to the local economy.
The redevelopment of JCube and J Gateway is part of the Singapore government’s broader plan to transform Jurong East into a vibrant and modern district. The government is investing heavily in the area, with plans to build more commercial and residential projects in the area. With the addition of these two projects, Jurong East is expected to become one of the most attractive business and residential hubs in Singapore.