JCube to Redevelop Into Residential Condo by Capitaland
JCube to Redevelop Into Residential Condo by Capitaland
JCube is a five-storey mixed-use development with three basement levels and a roof garden. It has a total net lettable area of 210,038 sq ft. It is under a 99-year leasehold.
JCube Shopping Centre
JCube Shopping Centre is a multi-functional shopping centre in Singapore’s Jurong East. It is open daily from 10am to 10pm. It also features Singapore’s first Olympic-sized ice rink and IMAX theatre, which are not usually found in the suburbs. It was originally built on the site of the Jurong Entertainment Centre.
Investors have raised concerns over the deteriorating occupancy rate of JCube. Its occupancy rate is currently the lowest of any property in CMT’s portfolio, and has declined from 94.3% in the previous year. However, CMT is trying to position JCube as a sports destination, and recently added a 24-hour gym.
J.Avenue
Capitaland has released plans to redevelop J.Avenue into a reisdential condo. It is expected to feature a mix of commercial and residential space. This development is located near the Ticketing Office of Singapore Airlines. In addition, it is near the Somerset Grand Cairnhill 9 Condo.
Future of ice rink at JCube
The future of the ice rink at JCube is uncertain. The lease expires in Mar 2023, and the ice sports association is looking at other options. The Singapore Ice Hockey Association and the Singapore Ice Skating Association will work with SportSG to make sure that athletes will have access to training facilities.
The ice rink at JCube is the only Olympic-sized rink in the city-state. Its layout is designed to cater for recreational skating as well as ice hockey. The rink also features 460 seats and rink-side dining.
Mixed-use development at JCube
Mixed-use development at JCube is a project that will combine residential and commercial spaces. The shopping mall, which was opened in 2012, is currently in the process of being redeveloped by CapitaLand Development. The project will include five storeys plus three basement levels and a roof garden, resulting in a net lettable area of 210,038 sq ft.
The Urban Redevelopment Authority has approved the proposal for the redevelopment of the JCube mall. The site will be turned into a primarily residential development, increasing the plot ratio from 3.0 to 4.2. This is a good move for CapitaLand Development, who hopes to capitalize on the rising property prices in Jurong East. The mall is home to Singapore’s only Olympic-sized ice rink.
Cost of development
The JCube development by CapitaLand is a mixed-use development located in Singapore’s Jurong East. The property was opened in April 2012 and is currently managed by CapitaMalls Asia. It is expected to generate about $1 billion in annual sales.
CICT has a portfolio of 23 properties with a combined value of S$21.8 billion. Recently, it announced that it would purchase a 50% stake in a commercial complex in North Sydney from fund manager Nuveen for A$422.0 million.
Impact on surrounding neighbourhood
The impact of JCube to Redevelop into Reusdential Condo by Capitaland on the neighbourhood is yet to be determined, but the project looks to have a positive impact on the area. The proposed development comprises five storeys, three basement levels, and a roof garden. The total net lettable area is 210,038 square feet. The project is subject to a 99-year leasehold.
Currently, the JCube shopping mall is being used as a shopping mall, but developer CLD is exploring various options, including turning the mall into a residential project. The developer cites competition from other shopping malls in the vicinity and the strong demand for residential units in the area. The project’s design will feature mixed-use space, a brewery concept, and a greater plot-to-floor ratio than the current JCube.