The Jurong area of Singapore is set to undergo a major transformation due to the potential launches of new residential developments. These developments will provide much needed housing in the area and help to alleviate the pent up demand for housing.
The government’s plans to bring new homes, along with new businesses, recreational facilities and amenities to the Jurong Lake District (JLD) will be complemented by the redevelopment of JCube’s site into the JCube Residence. This 40-storey residential and commercial development will be connected to Jurong East MRT interchange, Westgate and IMM Building via a covered elevated pedestrian network. It is estimated that the units of the new development will have a price tag of S$2,000 to S$2,100 per square foot (psf), and is expected to launch for sale in the second half of 2023.
Adding to the potential launches in the area is the upcoming 6.8-hectare mega white site on the confirmed list of the first half of the 2023 government land sales programme. This site will be sold to a master developer who will build up to 375,000 square metres (sq m) in gross floor area (GFA). 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 launches of new residential developments in the Jurong area will help to alleviate the pent up demand for housing in the area. It is expected that the new development at JCube Residence will have an average selling price of S$2,100 psf and upwards, aligned with recent launch prices of the outside of central region developments.
The Jurong area is set to become a vibrant hub with the potential launches of new residential developments. These developments will bring much needed housing to the area and help to alleviate the pent up demand for housing. As the area is close to many amenities and recreational facilities, the new developments will be well received and will provide much needed housing to Singaporeans.
The Jurong area of Singapore is set to see a surge in new residential developments in the near future, as developers look to alleviate the current pent-up demand for housing in the area. With the government’s plans to bring new homes, Bukit Batok EC businesses, recreational facilities and amenities to the Jurong Lake District (JLD), Jurong is set to become a desirable and sought-after residential area.
The first of the potential launches is the 6.8-hectare mega white site, which is on the confirmed list of the first half of the 2023 government land sales programme. This site will be sold to a master developer who 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 second potential launch is the JCube Condo development. 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. The new development is expected to have an average selling price of S$2,100 per square foot (psf) and will be connected to Jurong East MRT interchange, Westgate and IMM Building via J-Walk, a JCube Condo covered elevated pedestrian network in the JLD. Eventually, JCube Condo 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 Condo.
The potential launches of new residential developments in the Jurong area will help to alleviate the pent-up demand for housing in the area. The new developments will be well-connected and will provide convenient access to amenities and recreational facilities, making the area an attractive option for potential homebuyers. Developers are also expecting the potential launches to boost home prices in the resale market and possibly have a spillover effect on the Bukit Batok and Clementi areas near to JCube Condo.
Overall, the potential launches of new residential developments in the Jurong area is an exciting prospect for potential homebuyers, as it will bring much-needed homes to the area and help to alleviate the current pent-up demand.
Leave a Reply