Singapore’s Jurong East region is set to undergo a major transformation as JCUBE, a 10-year-old leisure and edutainment destination, is set to close its doors in August to make way for a 40-storey residential and commercial development JCube Residence. This move comes after CapitaLand Development (CLD), the development arm of CapitaLand Group, obtained provisional permission from Singapore’s Urban Redevelopment Authority to redevelop the JCube site.
Observers are estimating that the JCube Residence residential units of the new development will have a S$2,000 to S$2,100 per square foot (psf) price tag, while it will have commercial space on the first and second storeys. It is slated for completion in 2027 and 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 also be linked to the upcoming Jurong East Integrated Transport Hub.
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. JCube Residence will likely boost home prices in the resale JCube Condo market and possibly have a spillover effect on the Bukit Batok and Clementi areas.
JCube Residence also 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. This white site is expected to bring 375,000 square metres (sq m) in gross floor area (GFA) in the next five to 10 years, comprising 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.
On top of major tenants like Don Don Donki, Haidilao and Daiso, JCube Residence is also home to Singapore’s first and only Olympic-sized ice skating rink. CLD is working closely with JCube’s tenants to ensure a smooth handover of JCube Residence premises and the mall’s last day of operations is Aug 6.
JCube Residence 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. Together with the new JCube development, the potential 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, noted property analysts.
The closure of JCube marks the end of an era and make way for JCube Residence location. With its great location, amenities, and potential for capital appreciation, JCube Residence is set to be an attractive option for many homebuyers in Singapore.
JCube in Jurong East, Singapore has been a popular destination for leisure and edutainment for nearly a decade. In August, however, it will be closing its doors to make way for the new 40-storey residential and commercial development JCube Residence. This new development, slated for completion in 2027, is estimated to have a price tag of S$2,000 to S$2,100 per square foot (psf).
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.
The redevelopment of JCube and the potential new launches in the area, including JCube Residence, are a welcome development for the region. Demand for residential housing in Jurong has been on the rise due to the lack of new 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.
JCube’s tenants are being provided with the necessary support to ensure a smooth handover of the premises, and the mall’s last day of operations is August 6.
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 Residence. On top of Arina East Residences major tenants like Don Don Donki, Haidilao and Daiso, JCube Residence is also home to Singapore’s first and only Olympic-sized ice skating rink.
The closure of JCube marks the end of an era, but the JCube Residence will bring new homes, businesses, recreational facilities and amenities to the Jurong Lake District. This will be a great benefit to those living in the area, having access to the many amenities and recreational facilities nearby.