In the realm of visionary development, a coalition comprising CapitaLand Development, City Developments, Frasers Property, Mitsubishi Estate, and Mitsui Fudosan (Asia) stands as the singular contender for a 6.5-hectare master-developer site within Jurong Lake District.
Strategically positioned between Jurong East MRT interchange station and the forthcoming Jurong Lake District MRT station, this site offers a maximum gross floor area of 365,000 square metres. Over the course of the next 10-15 years, the envisioned integrated development will serve as a linchpin in the district's burgeoning business landscape.
Anticipated proposals are poised to optimize the residential capacity to its fullest extent, capitalizing on robust demand for private residences and buoyant cash flow from pre-sales endeavors.
Mark Yip, CEO of Huttons Asia, underscored the significance of Plot 1 within the master-developer site, situated adjacent to Genting Hotel Jurong. Notably, this parcel stands as the closest tract of land to the former Jurong Country Club site, previously earmarked as the Singapore terminus for the proposed Kuala Lumpur-Singapore high-speed rail (HSR) project. Yip articulated, "Should the project recommence, there exists potential to develop service apartments to cater to transient demand at a pivotal transit nexus."
A consortium comprising CapitaLand Development, City Developments, Frasers Property, Mitsubishi Estate, and Mitsui Fudosan (Asia) is the sole contender for a 6.5-hectare master-developer site in Jurong Lake District.
This site, positioned between Jurong East MRT interchange station and the future Jurong Lake District MRT station, boasts a maximum gross floor area of 365,000 square metres. The proposed integrated development, to be completed over the next 10-15 years, will play a crucial role in the area's business district development.
It is expected that the submitted schemes will fully utilise the maximum residential quantum allowable, benefiting from high demand for private homes and positive cash flow from pre-sales activities.
Huttons Asia CEO Mark Yip noted that Plot 1 of the master-developer site, next to Genting Hotel Jurong, is the nearest land parcel to the former Jurong Country Club site, which was previously designated as the Singapore terminus for the proposed Kuala Lumpur-Singapore high-speed rail (HSR) project. “If the project is restarted, there may be opportunities to build service apartments to tap on the potential transient demand at a major transit node,” he added.
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Associate Director, Project Management at Knight Frank Malaysia
5dThank you for delivering a challenging project Darren Chang and team. Really good effort and well done.