23/06/2023
Exciting News Update โ Jurong Lake District!
As a real estate agent with a deep understanding of the masterplan, I'm thrilled to share some groundbreaking updates about the Jurong Lake District! You may have already caught wind of this remarkable transformation in Jurong, and I'm here to give you the inside scoop!
The government has just launched a 6.5ha white site for sale, which marks a pivotal moment in their plan to develop the Jurong Lake District into a thriving business hub that rivals the Central Business District. This tender includes three strategically located plots of land, seamlessly connecting the existing commercial center to the upcoming Jurong Lake District station on the Cross Island Line. It's an ideal opportunity to be at the forefront of this remarkable development!
The government's vision is centered around distinctive and sustainable mixed-use development proposals, with an emphasis on well-designed public spaces. This means a harmonious blend of offices, residences, and complementary amenities that cater to the needs of both businesses and the local community. The estimated potential of this project is staggering, with over 1.57 million sq ft of office space, approximately 1,700 residential units, and 785,480 sq ft of complementary spaces such as shops, restaurants, and entertainment venues.
This transformative project will gradually sustain a growing resident population and redefine the landscape of the Jurong Lake District. It's an exciting time to be part of the 'Westie' journey! ๐ณ
I'm curious, how do you envision the future of the Jurong Lake District? Let's have a conversation about this remarkable development!
According to CBRE, the development land cost for the Jurong Lake District master development site could be at least $1,300 psf ppr. This means that based on a total GFA of approximately 3.93 million, the total land cost could exceed $5 billion.