CapitaLand Development (CLD) has obtained the Urban Redevelopment Authority’s provisional permission to redevelop the JCube site into a 40-storey residential development with commercial space on the first and second storeys.
The new residential development by CLD will be directly connected to the Jurong East MRT interchange station, Westgate and IMM Building via J-Walk, the covered elevated pedestrian network in JLD. The interchange station currently serves the East-West Line and North-South Line, and will also serve the future Jurong Region Line (opening in phases from 2027) and the upcoming Cross Island Line (opening in phases from 2030).
The four MRT lines will provide residents of the new development with excellent connectivity to the rest of the island, including the Central Business District, Changi Airport, Jurong Innovation District and Tuas Port.
The residential development will be similarly 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 amongst other commercial spaces.
In line with the plans for the residential development, JCube will cease operations from 7 August 2023. CLD is working closely with the tenants and providing them with the necessary support to ensure a smooth handover of the premises.
Targeted for completion in 2027, it will complement the Government’s plans to bring new homes – alongside new businesses, recreational facilities and amenities – to the Jurong Lake District (JLD) as it transforms into Singapore’s largest business district outside of the central area.
Under the Government’s plans, JLD is positioned as a place to grow and create new business, living and leisure environments amidst a unique lake setting, where the vibrancy and attractions of a Central Business District are intertwined with greenery and water. JLD is expected to provide 100,000 new jobs and 20,000 new homes by 2040 to 2050, adding to the 1 million residents already living in Singapore’s west region.
In addition to the new residential development by CLD, the other CapitaLand properties within JLD are Westgate and IMM Building owned by CapitaLand Integrated Commercial Trust; 31 International Business Park, Acer Building, [email protected] and Nordic European Centre owned by CapitaLand Ascendas REIT; and [email protected] owned by CapitaLand Investment, the listed global real estate investment manager of CapitaLand Group.
CLD currently has three other residential projects under development in Singapore. They are Sengkang Grand Residences, which is fully sold, as well as CanningHill Piers and One Pearl Bank, which are both over 90% sold.