The former JCube mall has been redeveloped by CapitaLand Development, and is now a mixed-use development. The former mall is located in the Jurong Lake District. What is the current occupancy rate of this mall? And what are the plans for its future?
CapitaLand Development’s redevelopment of the JCube mall
CapitaLand Development has been weighing various options for the redevelopment of the JCube mall. One option is to build a new mall in place of the existing JCube. Another option is to convert the existing mall to residential units. Both options would boost the demand for residential properties in the area.
The JCube shopping mall in Singapore’s Jurong Gateway is set to undergo a major makeover. The new owner of the mall is bringing a new vision to the area, which will include an integrated transport hub, community institutions, and a bus interchange.
The new masterplan for the JCube mall has been approved by the Urban Redevelopment Authority. It includes residential units on the ground floor and commercial spaces on the first and second floors. This will increase the plot ratio from 3.0 to 4.2. The JCube mall is located adjacent to the Jurong Lake District and is close to Jurong East MRT station. Other nearby malls include Westgate and IMM.
Location of the JCube mall in Jurong Lake District
The JCube is a shopping mall located in Jurong East, Singapore. It is open from 10 am to 10 pm and has an IMAX theatre and Singapore’s first Olympic-size ice rink. It was built on the former Jurong Entertainment Centre site.
It has been around since 1993 and is located just 200m from Jurong East MRT station. However, it has never really attracted footfall and is now facing tough competition from other malls in the vicinity. The new development plans are aimed at transforming the JCube into a mixed-use development.
The JCube mall is located in Jurong Lake District, a highly desirable location near the Jurong Gateway and International Business Park. It has a diverse retail offering, including Singapore’s first Olympic-sized ice-rink. The property was recently purchased by CapitaLand, a Singapore-based developer. It plans to develop the site with a mix of commercial and residential space on the first floor. The company expects to complete the purchase of the land by 1Q 2022.
After the sale of the JCube to a private developer, the future of this site will be bright for the Jurong Lake District. It is expected to become the tallest building in Singapore and contain a new upscale shopping mall and cinemas. The site also features a world-class ice rink and IMAX theatre.
Current occupancy rate of the mall
Recent developments in Jurong East have led to increased investor interest in the area. A new master-planned lakeside development planned for the area will contain a first-rate science centre and a range of recreational amenities. These will be located near the Lakeside MRT station and appeal to a mix of young professionals and families. However, while the area remains an attractive investment prospect, it is unlikely to experience any significant price rises.
One of the best aspects of Jurong property is its convenient connectivity to other parts of Singapore. The upcoming Downtown Line 2 is set to complete mid-2016, providing better access to key destinations in the area. Once operational, it will connect Jurong East, Jurong West and Jurong Industrial Estate to the West Coast, Boon Lay and Tengah districts. This means that investors will have no trouble finding Jurong property that meets their requirements.
The Jurong East project is located on the western side of the island and boasts a population of 78,000. It has a total of 24,000 flats, with about 11.3% of them being BTO flats. There are also two-room units that are suited for couples or small families.
Plans for redevelopment of the mall
The plans for the redevelopment of Jurong East mall include building a 13-storey office building and an 818,000-square-foot shopping mall. It will be the third biggest mixed-use development in Singapore. The redeveloped mall is expected to be completed late next year. It will also include green spaces, skyrises, and landscape areas.
The JCube mall, which opened in 2012, is located around 200m from Jurong East MRT station. The mall has recently undergone refurbishment works, and is competing with the IMM and Westgate shopping malls as well as Lendlease’s Jem mall. Besides, the proposed redevelopment plans also include a residential development on the JCube plot.
The new development will include restaurants, shops, and hotels. It will also incorporate entertainment and technology, as well as sustainability. It will integrate well with the surrounding Jurong district, including pedestrian-friendly streets.