Name: Jurong Lake District White Site New condo
Brand: Property Review
SKU: Jurong Lake District White Site New condo
Price: 1880000 SGD
Availability: InStock

Table of Contents

About Jurong Lake District New Condo GLS Site

A 6.8-hectare White site in the Jurong Lake District New Condo is going to be released for sale to a Master Developer through the 1H2023 Government Land Sales Confirmed List, marking the beginning of the next phase of development in the area.

The Jurong East MRT interchange station and the planned Cross Island Line stop in the Jurong Lake District are connected by these three parcels of land.

The goal is to have a single developer do all the necessary master planning and include district-level urban solutions (such a district cooling system) into the overall mixed-use project.

Over the following 5-10 years, the planned integrated development will be built up to meet market demand, with a final product that includes 1,760 private residential units, 75,000 square feet of retail, hotel, and community uses, and 150,000 square feet of office space.

The winning bidder will be tasked with constructing 70,000 square meters gross floor area (GFA) of office space and 600 units of private housing during the first phase of the development, with considerable leeway to reduce the remaining supply in accordance with market demand.

Jurong Lake District White Site Location

The Jurong East MRT interchange station and the planned Cross Island Line stop in the Jurong Lake District are connected by these three parcels of land. The goal is to have a single developer do all the necessary master planning and include district-level urban solutions (such a district cooling system) into the overall mixed-use project.

Potential of the Site

Since 2008, Jurong Lake District has built a substantial portfolio of commercial, institutional, and residential properties. Adjacent to the Jurong East MRT interchange station, CBRE’s Song said an Integrated Transport Hub with offices, a new Jurong Region Line station, communal spaces, and retail facilities would be erected by 2028. With its commitment to sustainability, “JLD will be a model sustainability district, with net-zero emission levels for developments by 2045.”

Due to the massive scale of the project, Song estimates that the land alone will cost more than $2 billion, or at least $1,300 per square foot. Assuming a three- to six-month tender time from the anticipated GLS release date in June 2023, the earliest construction of the office space is projected to be in 2028.
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There is a maximum of 775 residential units and 6,000 square meters (64,584 square feet) of retail space allowed on the Marina Gardens Crescent plot. “We expect this site to take the cue from the response to the first site whose tender will close on 27 June 2023,” adds Song of CBRE.

To better serve commercial interests and encourage decentralization, Singapore plans to gradually transform the Jurong Lake center into the country’s biggest business center located outside of the city proper. New construction in the area is expected to produce zero net emissions by the year 2045, making it a sustainability showcase.

Today, offices, shops, and institutions may all be found in the vicinity of the Jurong East MRT interchange station. Next to the Jurong East MRT interchange station, a new Jurong Region Line station and an Integrated Transport Hub with workplaces, communal spaces, and retail facilities will be constructed by 2028. As the economy and the property market continue to improve, the government will continue to offer plots for sale in the Jurong Lake District.

The planned integrated complex will be built up over the next 5-10 years to meet market demand, and it has the ability to produce around 1,760 private residential units, 150,000 sqm of office space, and 75,000 sqm GFA of complementary uses like hotel, retail, or communal uses. The winning bidder will be tasked with constructing 70,000 square meters of gross floor area (GFA) of office space and 600 units of private housing during the first phase of the development, with considerable leeway to reduce the remaining supply in accordance with market demand.