The closure of JCUBE in August is set to make way for the 40-storey JCUBE Residence. This move to redevelop the JCube site by CapitaLand Development (CLD) is welcomed by the residents of Jurong, as the new development is expected to bring new homes, businesses, recreational facilities and amenities to the Jurong Lake District (JLD) and alleviate the pent up demand for housing in Jurong.
JCube Residence will be connected to Jurong East MRT interchange, Westgate and IMM Building via J-Walk, a covered elevated pedestrian network. Eventually, it will be linked to the upcoming Jurong East Integrated Transport Hub, which will have a bus interchange, public library, community club and sports centre. This will be a great benefit to those living in the area, having access to the many amenities and recreational facilities nearby.
Observers are estimating a S$2,000 to S$2,100 per square foot (psf) price tag for the residential units of the new development. This is aligned with recent launch prices of the outside of central region developments. Property analysts are expecting the new JCube Residence to have an average selling price of S$2,100 psf and upwards. They also expect that the new JCube Residence will boost home prices in the resale market and possibly have a spillover effect on the Bukit Batok and Clementi areas.
CLD is also working closely with JCube Condo JCube’s tenants to ensure a smooth handover of the premises and the mall’s last day of operations is Aug 6. Desmond Sim, the 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”.
The redevelopment of JCube Residence is seen as a catalyst for the Jurong Lake District’s transformation into a vibrant and liveable district, with new homes and businesses. This is a welcomed move, as it will help to alleviate pent-up demand for housing in Jurong, given the lack of new condo launches in recent years.
The recent announcement of the closure of JCUBE to make way for the 40-storey residential and commercial development JCube Residence has been welcomed by the Singapore government and property analysts alike. Located in the Jurong East region of Singapore, JCube Residence will add 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.
JCube Residence is set to provide much needed relief to the pent up demand for housing in the Jurong region, with a potential average selling price of S$2,100 per square foot (psf) and upwards. Expected to be completed 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). It 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.
The potential launches including JCube Residence condo are set to bring new homes, along with new businesses, recreational facilities and amenities to the JLD. This will help to alleviate the lack of new condo launches in recent years and provide a much needed boost to the home prices in the resale market, with a spillover effect on the Bukit Batok and Clementi areas near to JCube Residence.
The closure of JCube marks the end of an era and make way for JCube Residence location. However, the potential new development is set to bring much needed relief to the pent up demand for housing in the Jurong region. With convenience, connectivity and a range of amenities and recreational facilities on offer, JCube Residence is expected to be a popular choice for those looking to buy a home in Singapore.