Region

Singapore’s Urban Redevelopment Authority (URA) recently granted CapitaLand Development (CLD) provisional permission to redevelop the JCube site in the Jurong East region of Singapore. This move will see the closure of the JCube Mall in August this year to make way for a 40-storey residential and commercial development known as JCube Residence.

As such, CLD has announced that it will be providing necessary support to the mall’s tenants to ensure a smooth handover of the premises. The mall’s last day of operations is set for August 6.

JCube has been a popular leisure and edutainment destination for the past decade. It is home to retailers such as Don Don Donki, Haidilao and Daiso, as well as Singapore’s first and only Olympic-sized ice skating rink.

JCube Residence, the redeveloped site, is expected to be launched for sale in the second half of 2023. The development will feature commercial space on the first and second storeys, and potential residential units with a price tag of S$2,000 to S$2,100 per square foot (psf). It 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, JCube Residence 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.

CLD’s move to provide necessary support to JCube’s tenants marks a significant step towards the smooth handover of the premises. This support could be in the form of alternative spaces or venues, financial aid, or rental waivers, among other forms of assistance.

This move is also in line with the Singapore government’s plans to bring new homes, along with new businesses, recreational facilities and amenities to the JLD. These plans include the potential launch of a 6.8-hectare white site on the confirmed list of the first half of the 2023 government land sales programme. The white site comprises three plots of land and is expected to be sold to a master developer which will build up to 375,000 square metres (sq m) in gross floor area (GFA). 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.

The potential new launches, including JCube Residence, 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. They also expect the new launches to potentially boost home prices in the resale market and 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”. This view is shared by Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, who commented that “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”.

With the closure of JCube and the redevelopment of the site for JCube Residence, the Jurong East region is set to benefit from eventual access to the many amenities and recreational facilities nearby. The potential new launches in the area will bring much-needed relief to the pent-up demand for housing in the region, as well as potentially boosting home prices in the resale market. CLD’s move to provide necessary support JCube Condo to JCube’s tenants is a significant step towards the smooth handover of the premises and the eventual launch of JCube Residence.

Singapore

CapitaLand Development (CLD), the development arm of CapitaLand Group, is set to redevelop the JCube site in Jurong East Central Singapore and launch JCube Residence new development for sale in the second half of 2023. The move comes after CLD obtained provisional permission from Singapore’s Urban Redevelopment Authority to redevelop the JCube site, it announced on Tuesday (Feb 7).

JCube, located in the Jurong East region of Singapore, has been a popular leisure and edutainment destination for the past decade. However, the mall is set to close its doors in August to make way for the 40-storey residential and commercial development JCube Residence. CLD is currently working closely with JCube’s tenants to ensure a smooth handover of the premises and the mall’s last day of operations is Aug 6.

JCube Residence 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 a bus interchange, public library, community club and sports centre, among other amenities near to JCube Residence location.

CLD is providing JCube’s tenants with the necessary support to ensure a smooth handover of their premises. This includes helping tenants to relocate their businesses and providing financial assistance to those who may require it. CLD is also working with the relevant government agencies to ensure that the transition is as smooth as possible for the tenants.

To ensure that the transition is as seamless as possible for the tenants, CLD is offering a series of services and support to help tenants relocate their businesses. This includes providing them with financial assistance, helping them find alternative locations and providing them with advice and guidance on the necessary steps they need to take to transition their business successfully.

Additionally, CLD is working with the relevant government agencies to ensure that the necessary permits and licenses are obtained for the tenants to set up their businesses in their new locations. They are also working with the relevant authorities to ensure that the tenants will receive the necessary tax incentives and subsidies to help them get off the ground.

In addition to providing support for the tenants, CLD is also providing the necessary resources to ensure that the JCube site is properly cleaned and maintained before the redevelopment begins. This includes removing hazardous materials, disposing of any waste, and ensuring that the site is safe for the new development. CLD is also ensuring that the new development will be of the highest quality, with strict safety and environmental standards in place.

Overall, the closure of JCube marks the end of an era and the beginning of a new one for the Jurong East region. The JCube Residence redevelopment of the site will bring new homes, along with new businesses, recreational facilities and amenities to the Jurong Lake District (JLD). This will be a great benefit to those living in the area, having access to the many amenities and recreational facilities nearby.

CLD is providing the necessary support and resources to ensure a smooth handover of the JCube premises and a successful transition for the tenants. This includes financial assistance, helping tenants find alternative locations and providing them with advice and guidance on the necessary steps to transition their business successfully. With this, the closure of JCube marks the end of an era and make way for the new JCube Residence development.