The upcoming launch of JCube Residence, located in the Jurong East region of Singapore, is expected to boost home prices in the resale market. The 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, it announced on Tuesday (Feb 7).
Observers are estimating a S$2,000 to S$2,100 per square foot (psf) price tag for residential units of the new development, which will have commercial space on the first and second storeys. It is slated for completion in 2027. 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, 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 near to JCube Residence.
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 likely boost home prices in the resale market and possibly have a spillover effect on the Bukit Batok and Clementi areas. 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. This move comes as a welcome development for the region, as demand for residential housing in Jurong has been on the rise. Together with the new JCube development, the potential 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.
Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, noted 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.” This will be a great benefit to those living in the area, having access to the many amenities and recreational facilities nearby.
Overall, the potential new launches near JCube Residence are expected to boost home prices in the resale market and possibly have a spillover effect on the Bukit Batok and Clementi areas. 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. This will be a great benefit to those living in the area, having access to the many amenities and recreational facilities nearby.
Singapore’s Jurong Lake District is set to undergo a major overhaul with the closure of long-time local edutainment centre JCUBE and the launch of the new JCube Residence condo. Property analysts are expecting the new JCube Residence 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. This could potentially boost home prices in the resale market and have a spillover effect on the Bukit Batok and Clementi areas.
The upcoming 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 JCube Residence location. This will 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 an era and make way for JCube Residence location. With the launch of JCube Residence, the Singapore government’s plans to bring new homes, along with new businesses, recreational facilities and amenities to the JLD, will be complemented. This, along with the other potential launches in the area, will help alleviate pent-up demand for housing in Jurong, given the lack of new condo launches in recent years.
Property analysts are Rent Out Condo expecting the new JCube Residence 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. This could potentially boost home prices in the resale market and have a spillover JCube Condo effect on the Bukit Batok and Clementi areas. 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.
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”. Given the potential launches including JCube Residence condo and the government’s plans to bring new homes, along with new businesses, recreational facilities and amenities to the JLD, the Jurong region is set to become even more attractive to potential homebuyers.