Jurong East’s JCube Mall is set to close its doors in August to make way for the upcoming JCube Residence development by CapitaLand. After a decade of providing leisure and edutainment, the closure of the mall marks the end of an era and make way for the new development which will bring more residential homes, businesses, recreational facilities and amenities to the Jurong Lake District (JLD).
JCube Residence, a 40-storey residential and commercial development, is expected to be launched for sale in the second half of 2023 with an estimated price tag of S$2,000 to S$2,100 per square foot (psf). It will be connected to the Jurong East MRT interchange, JCube Condo 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.
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 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 like Don Don Donki, Haidilao and Daiso, JCube Residence is also home to Singapore’s first and only Olympic-sized ice skating rink.
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. The white site, which comprises three plots of land, 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.
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. 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 Residence 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 Residence premises and the mall’s last day of operations is Aug 6.
The redevelopment of JCube for JCube Residence, along with the other potential launches in the area, come as a welcome development for the region. Demand for residential housing in Jurong has been on the rise, due to the lack of new condo launches in recent years. It is expected that the new JCube Residence will be a great asset to the community, providing more housing options and amenities to the people living in the area. The new development will contribute to the government’s efforts to bring new homes, businesses, recreational facilities and amenities to the Jurong Lake District.
Jurong East’s JCube mall is set to close down on Aug 6, 2021, to make way for a 40-storey residential development project by CapitaLand. The new residential building, which is targeted for completion in 2027, is part of the Government’s plans to bring new homes, businesses, recreational facilities, and amenities to the Jurong Lake District.
The new development will be linked directly to the Jurong East MRT interchange station, Westgate and IMM Building via J-Walk, which is a covered elevated pedestrian network in the district. The new building will also be linked to the upcoming Jurong East Integrated Transport Hub, which will include an air-conditioned bus interchange, a public library, a community club and a sports centre, among other commercial spaces.
The closure of JCube mall, which is home to Singapore’s only Olympic-size ice-skating rink, will mean that many skaters would lose a key practice venue. Recreational figure skater Willis Lau, 24, called the closure a “shame”, especially for competitive skaters. Sport Singapore is currently working with the respective national sports associations for ice sports on plans for alternative facilities to support athletes’ short- and long-term training needs.
The Jurong Lake District development is expected to become Singapore’s largest business district outside the central area. It is slated to provide about 100,000 new jobs and 20,000 new homes between Luminar Grand 2040 and 2050, adding to the one million residents already living in Singapore’s west region.
CapitaLand said it is working closely with the tenants of JCube and providing the necessary support to ensure a smooth handover of the premises. Some tenants, such as pasta takeaway kiosk PastaGo, are hoping to find a suitable replacement in Jurong due to its ideal demographic and vibrant food and beverage scene. However, due to the higher rental prices of other malls such as Jurong Point, Jem and Westgate, some tenants may have to shift overseas.
The new JCube development by CapitaLand is expected to be launched for sale in the second half of 2023. The plans for the project involve a combination of residential and commercial properties, which will provide the district with more options for living, working, and recreation.
The development will be a boon for the district, as it will provide more opportunities for job creation and economic growth. It will also be a great place to live, given its close proximity to the MRT station, shopping centres, and other amenities.
While the closure of JCube mall is a sad event for some, the new residential development project by CapitaLand promises to bring a brighter future for the Jurong Lake District. With its close proximity to the MRT station, shopping centres, and other amenities, the district is set to become a vibrant and bustling hub. It will be a great place to live, work, and play.
