25 years ago, If you were told that Jurong District would become the next CBD in Singapore, you would not be convinced. However, today we see Jurong District is no longer a merely a mixture of Industrial buildings and suburban residential. It has advanced in many areas to include more amenities, efficient infrastructure and even a world-class hospital, Ng Teng Fong General Hospital.

Taman Jurong in 1970s

 

The Urban Redevelopment Authority (URA) said it was seeking master plan proposals for Jurong Lake District. It would not only be Singapore’s second CBD, but also a futuristic, eco- friendly and inclusive urban space filled with homes, offices, hotels and recreational facilities surrounded by greenery and waterways. We can see these plans crystallize before our eyes as more and more commercial hubs being developed within Jurong District including JEM, West Gate, JCube and Big box all within close proximity to each other and the Jurong East MRT/Bus Interchange.

On 19 February 2013, Singapore and Malaysia officially agreed to build a high-speed rail link between Kuala Lumpur and Singapore by 2026

The 350km line is expected to reduce travel time between Singapore and Kuala Lumpur to around 90 minutes. Described as a “game-changer”, the project will not only boost connectivity and strengthen economic ties, both governments hailed it as a testament to the close bilateral cooperation.

Jurong Lake District’s core area around the Kuala Lumpur-Singapore High-Speed Rail (HSR) terminus should provide “flexible and adaptable work spaces for a good mix of complementary businesses and services”.

The district will also be an inclusive and vibrant 24/7 hub offering retail, entertainment and leisure options outside working hours, as well as quality new homes, inclusive public spaces and recreational facilities.

With these things inevitably in place, residential properties surrounding Jurong District would likely increase in value over the next decade.

 

2011 Lakefront residences units  395 sold

2013 J Gateway 681 units sold 2016 ! avg. psf $1478

2016 Lake Grande 481 units sold !! avg.psf $1332

 

This is made evidently clear as home owners are very confident of future capital appreciation.

Private New Sale Shows strong demand despite introduction of cooling measures in 2013…

 

 

Using Lake Grande’s and J Gateway’s high price point as benchmark, It is expected for prices in West coast/Clementi area to increase considering new launch

Parc Riviera is going only at $12xx psf. and latest The Clement Canopy at $13xx psf.

 

“As the development of JID takes shape, we can expect demand for real estate ranging from homes, offices, retail, hospitality and industrial to rise and along with this, a general rise in real estate value in and around JID,” said Tay Huey Ying, head of Singapore research at JLL.

Tay added that the JID’s development will trigger an increase in private-sector interest in real estate development and investment in the area.

“Thus, we can expect to see an increased level of activity in this locality in time to come. Potentially, the Government Land Sales programme might soon start to incorporate land parcels in and around JID to kick-start the transformation,” Tay said.

 

  

 

For new launches near Jurong Lake District, please visit: