Demand for residential developments in the Jurong East Central area of Singapore continues to rise as potential new launches are on the horizon. The area has seen a lack of new condo launches in recent years, fuelling the demand for housing in the region.
The Singapore government is also planning to bring new homes, along with new businesses, recreational facilities and amenities to the Jurong Lake District (JLD), with the redevelopment of CapitaLand Development’s JCube site into JCube Residence. This new development is slated for completion in 2027, with the potential launch of residential units expected to be in the second half of 2023.
The JCube Residence redevelopment will complement the Singapore government’s plans to bring new homes, along with new businesses, recreational facilities and amenities to the JLD. The development 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 boasts a bus interchange, public library, community club and sports centre, among other amenities near JCube Residence.
In addition to the potential new launch of JCube Residence, the confirmed list of the first half of the 2023 government land sales programme includes a 6.8-hectare mega white site in the area. This site comprises three plots of land, and 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 retail, hotel or community.
The potential new launches including JCube Residence will help to alleviate pent-up demand for housing in Jurong, and likely boost home prices in the resale market. 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.
As the demand for residential developments in the Jurong East Central area continues to rise, the potential new launches will be welcomed by potential home buyers. Together with the new JCube development, the potential launches including JCube Residence condo will help to alleviate pent-up demand for housing in Jurong, and likely boost home prices in the resale market.
Demand for residential developments in the Jurong East Central area of Singapore continues to rise, with developers seeking to capitalize on the area’s economic growth and development prospects. The area is home to the Jurong East MRT interchange and Westgate, as well as a host of other amenities including educational institutions, shopping malls, and eateries. The area is also well connected to the rest of Singapore via major expressways and public transport links.
Recent developments in the area include the closure of JCUBE and the subsequent redevelopment of the site into the upcoming JCube Residence. The project is expected to launch for sale in the second half of 2023 and is anticipated to have an average selling price of S$2,100 psf and upwards. It is set to include commercial space on the first and second storeys, and will be connected to Jurong East MRT interchange, Westgate and IMM Building via the J-Walk, a covered elevated pedestrian network.
The area is also slated to witness the launch of a 6.8-hectare mega white site in the first half of the 2023 government land sales programme. It is expected to include 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.
Real estate analysts believe that the new launches in the area will help to alleviate pent-up demand for housing in the region, given the lack of new condo launches in recent years. They also anticipate that the potential launches will likely boost home prices in the resale market and possibly have a spillover effect on the Bukit Batok and Clementi areas.
Developers are also banking on the area’s potential for continued economic growth and development, with the Singapore government’s plans to bring new businesses, recreational facilities, and amenities to the Jurong JCube Condo Lake District. This will be further enhanced by the upcoming Jurong East Integrated Transport Hub, which will boast a bus interchange, public library, community club, and sports centre.
All in all, the Jurong East Central area is poised to become one of the most sought-after residential developments in the city. With the potential of new launches and the excellent connectivity to the rest of the city, it is no surprise that demand for residential developments in the area is on the rise.
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