The Jurong East area of Singapore is set to be transformed with the closure of the JCUBE leisure and edutainment centre in August and the redevelopment of the site into a 40-storey residential and commercial development called JCube Residence. The new development, which will be connected to the Jurong East MRT interchange, Westgate and IMM Building via J-Walk, a covered elevated pedestrian network in the Jurong Lake District (JLD) is estimated to have a price tag of S$2,000 to S$2,100 per square foot (psf) for its residential units.
The move to redevelop JCube into JCube Residence coincides with the Singapore government’s plans to bring new homes, businesses, recreational facilities and amenities to the JLD. JCube Residence will be offered for sale in the second half of 2023, with exact details of pricing and the number and size of the units yet to be disclosed.
Property analysts are optimistic about JCube Residence potential in the area. Demand for residential housing in Jurong has been on the rise due to a lack of new condo launches in recent years and the new development is expected to have an average selling price of S$2,100 psf and upwards, which is in line 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.
The JCube Residence development will also have a positive effect on the area, with its connection to the upcoming Jurong East Integrated Transport Hub and access to the many amenities and recreational facilities nearby. In addition, the closure of JCube marks the end of an era and make way for the new JCube Residence.
Overall, the development of JCube Residence is an exciting new development in Jurong East, with the potential to transform the area and bring in new homes and businesses. With the JCube closure and the potential of the other potential launches in the area, the future of the Jurong East area looks bright.
The Jurong East region of Singapore is set for a new residential and commercial development, as the iconic JCUBE mall is set to close its doors in August to make way for the new JCube Residence condo. Slated for completion in 2027, the 40-storey development will boast commercial space on the first and second storeys, with residential units estimated to command a S$2,000 to S$2,100 per square foot (psf) price tag.
The move to redevelop JCUBE comes after CapitaLand Development (CLD) obtained provisional permission from Singapore’s Urban Redevelopment Authority. 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). Additionally, JCube Residence will eventually 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.
The redevelopment of JCUBE for JCube Residence, along with other potential launches in the area, 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. This would be a great benefit to those living in the area, having access to the many amenities and recreational facilities nearby.
The closure of JCUBE marks the end of JCube Condo an era, but the transformation of the Jurong East region is set to make it an even more desirable place to live. With its convenient location and transport links, the potential new launches including JCube Residence condo will likely boost home prices in the resale market and have a spillover effect on the Bukit Batok and Clementi areas. CLD expects to launch JCube Residence new development for sale in the second half of 2023, and the potential new launches in the area are sure to attract considerable interest.