The Jurong Lake District masterplan will make Jurong Lake the largest mixed-use district outside the city centre with 4 MRT lines by 2035. Until then, the JCube mall will remain operational and business as usual, but its tenants will need to find new rental spaces. Fortunately, rental rates have recently rebounded, which should make things easier for existing tenants.
JCube is a shopping mall in Jurong East Central
The owner of JCube, a shopping mall in Jurong East, is looking to convert the site into a mixed-use development. A new design would include commercial space on the ground floor and residential units on the upper floors. The project is expected to be completed in five years. Capitaland is a real estate investment trust based in Singapore and currently owns 23 properties. Of these, 96 percent are located in Singapore. The firm has also recently entered the Australian market, purchasing three properties in Australia. It has plans to develop the properties by 2022.
JCube was opened in 2012. It is one of the four shopping malls in Jurong East Central. The other three are IMM, JEM and Westgate. The mall is located next to the Jurong East MRT station. The proposed development is slated to have a larger plot area than the current JCube mall. The new development would have a plot ratio of 4.2, compared to 3.0 at present.
It is home to Singapore’s first Olympic-sized ice rink
The first Olympic-sized ice rink in Singapore will help the city-state expand its winter sports opportunities. With this new facility, Singaporeans will be able to train to become world-class ice skaters. It will also help the country become more competitive by hosting regional competitions and offering training sessions for amateur athletes. And the Rink will serve as a hub for the winter sports fraternity and the community, bringing the winter sports closer to the community.
JCube is a multi-purpose shopping mall that has an ice skating rink and an IMAX cinema in the vicinity. Located across from the Jurong East MRT and bus interchange, it offers a wide variety of retail and dining options at a reasonable price. The JCube is one of the city’s three-in-one mega malls, and it is considered the second largest mall in Singapore.
It has an IMAX theatre
As part of its plans to create a new residential community, Capitaland is exploring different options for redeveloping the JCube shopping centre. The mall currently has an Olympic-size ice rink and is also the first IMAX in the suburbs. The project is expected to be complete in the first quarter of 2022.
It is close to Westgate Shopping Centre
The Westgate Shopping Centre is a family-oriented shopping mall that is conveniently located close to the Jurong East MRT station. This mall is home to more than 250 stores and restaurants. Westgate is also close to several schools and hospitals. It has direct connectivity to the Jurong East MRT station and the Jurong East bus interchange. Moreover, it boasts a dedicated children’s play area and several restaurants.
The new office tower and mall will be able to serve the more than one million residents in Jurong and Tuas. Both the buildings will be equipped with green design features. For example, the office tower will be designed to use low-volatile organic compound (VOC) paints and materials.
It is a family-friendly mall
It may be business as usual at JCube mall in the coming months, but say goodbye to the iconic shopping mall in the near future, as developers plan to redevelop the site. According to a masterplan approved by the Urban Redevelopment Authority (URA), the 7,771.2 sq m plot will be redeveloped into residential and mixed-use development. The first and second floors could remain as commercial space, while the rest of the site would be converted into residential units.
The sale of JCube is being accompanied by several changes in the company’s business model. CICT, a Singapore-listed real estate investment trust, recently agreed to sell the mall for S$340 million to a local property developer. The transaction is expected to be finalised by Q1 2022. The JCube is located just a few minutes’ walk from Westgate and one kilometre away from CapitaLand’s IMM Building.