CapitaLand Group has announced plans to develop the JCube residence condo, a mixed-use development in the Jurong Lake District (JLD). Located in the centre of the JLD, the mixed-use development will be developed on the site of the former JCube shopping mall, which closed its doors in August 2023. The development will include residential JCube Condo units, retail, dining and entertainment options, as well as office and co-working spaces.
The JCube residence condo is part of CapitaLand Group’s broader plans for the JLD, which includes the development of a new business district, as well as a waterfront lifestyle destination. The JLD is part of the Singapore Government’s plan to transform the western part of Singapore into a vibrant economic and lifestyle hub.
The new JCube residence condo is expected to provide a range of housing options, from condominiums to studios and apartments. The development will be designed to encourage a sense of community and provide a range of amenities, including retail and dining options, as well as a host of lifestyle and leisure activities. The development will also include a number of green spaces, such as parks and gardens, that will provide a peaceful oasis for residents.
CapitaLand Group has also partnered with the Singapore Government to ensure that the JCube residence condo is an integral part of the larger JLD plan. The Singapore Government has committed to creating a world-class business district in the JLD, with the aim of providing jobs and opportunities for Singaporeans. To this end, the Singapore Government has provided financial incentives for businesses that set up in the JLD, as well as for the development of the JCube residence condo.
The Singapore Government has also taken steps to ensure that the JCube residence condo will be an attractive option for potential buyers. For instance, the government has provided a range of incentives such as stamp duty waivers and tax relief for buyers of the JCube residence condo. Furthermore, the Singapore Government has also announced plans to launch a “JCube Home Loan” scheme which will provide buyers with access to low-interest home loans.
CapitaLand Group has also announced plans to build a “JCube Living” community centre to serve the residents of the JCube residence condo. The community centre will feature a range of amenities, such as a library, a fitness centre, and a community garden, as well as a range of recreational and social activities. The community centre will serve as a hub for residents to come together and engage in a range of activities.
The JCube residence condo is part of the Singapore Government’s plan to transform the JLD into a vibrant economic and lifestyle hub. The new development is expected to provide a range of housing options, as well as a host of amenities and activities for its residents. The Singapore Government has also taken steps to ensure that the JCube residence condo is an attractive option for potential buyers, by providing a range of incentives and schemes to make the purchase of the property more affordable. The JCube Living community centre will also provide residents with a range of recreational and social activities. All of these efforts will ensure that the JCube residence condo is an integral part of the larger JLD plan.
Singapore’s Jurong Lake District is set to become the country’s largest business district outside the Central Area, with the CapitaLand Group’s JCube Residence Condo Development set to complement the government’s plans for the district.
The 40-storey residential development, which is expected to be completed in 2027, will be linked directly to the Jurong East MRT interchange station, Westgate, and IMM Building by means of a covered elevated pedestrian network.
The Jurong East interchange station currently serves the East-West and North-South lines, and will also link up with the future Jurong Region Line, which is set to open in phases from 2027.
The new residential development will also be linked to the upcoming Jurong East Integrated Transport Hub, which is expected to include an air-conditioned bus interchange, a public library, a community club, and a sports centre, among other commercial spaces.
The development is expected to provide about 100,000 new jobs and 20,000 new homes between 2040 and 2050, adding to the one million residents already living in Singapore’s west region.
This comes as the JCube mall in Jurong East Central is set to close down on August 6th this year to make way for the new residential development.
According to Tan Yew Chin, the Chief Executive of CapitaLand Development Singapore, the development is expected to be launched for sale in the second half of 2023.
In response to the impending closure of the mall, CapitaLand said it is working closely with the tenants and providing the necessary support to ensure a smooth handover of the premises.
JCube is home to Singapore’s only Olympic-size ice-skating rink and is a training venue for national athletes from the Singapore Ice Skating Association and the Singapore Ice Hockey Association.
In response to the closure of the ice rink, a Sport Singapore spokesman said the organisation is working with the respective national sports associations for ice sports on plans for alternative facilities to support athletes’ short- and long-term training needs.
The only other ice rink in Singapore is located at Leisure Park Kallang, but recreational figure skater Willis Lau, 24, said the closure of the ice rink at JCube is a shame, as many skaters would lose a key practice venue.
Mr Lau, a fourth-year environmental studies student at the National University of Singapore, said his ice-skating plans after the rink’s closure remain uncertain.
“I am likely going abroad for a year, so I will shift overseas for ice-skating. But not many people are given this opportunity”, he said.
“I think I might go to Kallang if a new rink does not open by the time I am back or I might just stop skating if the ice conditions at Kallang are not up to par.”
Mr Edwin Lim, a co-founder of pasta takeaway kiosk PastaGo, a JCube tenant, said the company is hoping to find a suitable replacement in Jurong due to its ideal demographic and vibrant food and beverage scene.
“Maybe malls such as Jurong Point, Jem, and Westgate, but we are expecting the rental there to be much higher”, he said.
Come August, employees at PastaGo’s JCube outlet will be transferred to its new outlet at Hillion Mall in Bukit Panjang, which is slated to open in March. PastaGo opened in JCube in May 2022.
Mr Lim said that when the company was negotiating with CapitaLand on a three-year lease in February 2022, there was no mention that JCube would be closing down to make way for a residential development.
The CapitaLand Group’s JCube Residence Condo Development is set to bring new homes, businesses, recreational facilities and amenities to the Jurong Lake District, thus complementing the government’s plans for the district. With its strategic location and amenities, the development is sure to be popular among the local populace and businesses alike.