High anticipation is building for the launch of the JCUBE Residence condo in the second half of 2023. Located in the Jurong East region of Singapore, the 40-storey residential and commercial development is set to replace the current JCUBE leisure and edutainment complex. CapitaLand Development (CLD), the development arm of CapitaLand Group, has obtained provisional permission from the Urban Redevelopment Authority to redevelop the JCUBE site and the expected launch of JCUBE Residence is slated for the second half of 2023.
The JCUBE Residence development will feature commercial space on the first and second storeys and will be connected to the Jurong East MRT interchange, Westgate and IMM Building via J-Walk, a covered elevated pedestrian network in the Jurong Lake District (JLD). Eventually, the JCUBE Residence will also be linked to the upcoming Jurong East Integrated Transport Hub.
Analysts are estimating that JCUBE Residence units will be sold at a price tag of S$2,000 to S$2,100 per square foot (psf). While exact details of the pricing, number and size of the units have yet to be disclosed, the new development is expected to help alleviate pent-up demand for housing in the area, given the lack of new condo launches in recent years.
The JCUBE Residence launch also comes at a time when there is 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. This white 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), including 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.
With the new JCUBE Residence development coming on stream, along with other potential launches in the area, it is expected that demand for residential housing in Jurong will be on the rise. Property analysts also expect 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.
High anticipation is indeed building for the launch of JCUBE Residence in the second half of 2023. With its proximity to the Jurong East MRT interchange, Westgate and IMM Building, and the upcoming Jurong East Integrated Transport Hub, the JCUBE Residence development is expected to see a high demand for its residential units.
The closure of JCube marks the end of an era and makes way for the much-anticipated launch of JCube Residence in the second half of 2023. The move comes after CapitaLand Development (CLD) obtained provisional permission from Singapore’s Urban Redevelopment Authority to redevelop the JCube site.
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). 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 location.
There are high expectations for the JCube Residence launch. Observers are estimating a S$2,000 to S$2,100 per square foot (psf) price tag for JCube Residence residential units of the new development, which will have commercial space on the first and second storeys. Property analysts are expecting the new JCube residential project 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.
The potential new launches including JCube Residence condo will help to alleviate pent-up demand for housing in Jurong, given the lack of new condo launches in recent years. Together with the new JCube development, it will boost home prices in the resale market and possibly have a spillover effect on the Bukit Batok and Clementi areas near to JCube Residence.
Desmond Sim, 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”.
CLD is working closely with JCube’s tenants to ensure a smooth handover of JCube Residence premises and the mall’s last day of operations is Aug 6.
The redevelopment of JCube for JCube Residence, along with the other potential launches in the area, come as JCube Condo a welcome development for the region. With the potential for a new launch in the second half of 2023, anticipation for JCube Residence is high. It is a great opportunity for those looking for a new home in a prime location in Singapore.
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