PropNex Picks

March 30, 2022

Jurong Lake District: A Thriving Hub For Modern Living

By PropNex Research and Editorial

Urban renewal helps to recreate neighbourhoods and build communities. Equally important, it also revitalises towns, making them more liveable and interesting. One such precinct that has seen dramatic transformation in Singapore over the past years, is Jurong.

Gone were the days when Jurong - in the West of Singapore – was viewed as a backwater. For decades, Jurong has been seen as a symbol of the country’s industrial progress; today, Jurong stands out as a thriving commercial hub which continues to play a vital role as one of Singapore’s growth drivers, attracting talent, investments and shaping vibrant communities.

A key plank in Jurong’s transformation is the development of the Jurong Lake District (JLD), Jurong Innovation District (JID) and an upcoming tourism destination. In the coming years, Jurong looks set to be the new focal point of business and employment as well as fun and recreation.

An attractive residential address

With all the ongoing estate transformation, Jurong is shaping up to be a home to long for among Singaporeans, and housing demand in the area is expected to remain strong. However, there have been few new private residential launches in Jurong recently. To this end, PropNex Realty is offering two attractive collective sale sites in Jurong, near the Lakeside MRT stations.

PropNex has launched the collective sale tender – which closes on 25 May 2022 - for Lakeside Apartments in Yuan Ching Road, while another development Lakepoint Condominium will be relaunched for collective sale in the coming months. These sites will present developers with the rare opportunities to create landmark residential projects in the Lakeside area, and capitalise on the growth potential and transformation of Jurong.

Investment highlights: Live, work and play in Jurong

1. The future of work and business

Spanning 360 hectares, the JLD will be the largest mixed-use business district outside the city centre, with quality offices, housing, amenities and abundant green spaces. The Urban Redevelopment Authority (URA) notes that the JLD will be a model for urban sustainability to support companies and new jobs in green innovation, while also housing mixed uses for living, working and playing.

Meanwhile, the JID is an industrial district for advanced manufacturing, supporting an ecosystem of manufacturers, technology providers, researchers and education institutions with Nanyang Technological University nearby.

Together, the JLD and JID will not only bring jobs closer to home, but also attract a wide variety of talent and workers to the area as a key employment node. Further off from Jurong, the future mega Tuas Port will also benefit nearby industries and inject more vibrancy to the West.

2. Amenity-rich location with something for everyone

The two collective sale sites are a short distance from numerous amenities, which provide future residents with plenty of lifestyle and retail options. These include malls such as JCube, JEM, Westgate, IMM, Jurong Point, Taman Jurong Shopping Centre, and Taman Jurong Market and Food Centre.

There are also many schools in the vicinity that will offer convenience to households with school going children and teens. Schools nearby include Lakeside Primary School, Rulang Primary School, Jurong Secondary School, Fuhua Secondary School, River Valley High School, Millennia Institute, Nanyang Technological University, and the Canadian International School (Lakeside Campus).

In addition, the Ng Teng Fong General Hospital and Jurong Community Hospital in Jurong East will provide comprehensive healthcare services to residents.

Apart from being a hub for business and commercial activities, the government has also envisioned the JLD as a new tourism precinct in Singapore. The Singapore Tourism Board (STB) has launched a Request for Proposals to develop and operate an integrated tourism development at JLD. The STB said it expects the new lifestyle and tourism hub to comprise high-quality accommodation as well as a mix of attractions, retail, F&B and entertainment offerings – all with an emphasis on technology, “edutainment” and sustainability. The new tourism development – targeted to be ready from 2028 – will complement existing attractions such as the Jurong Lake Gardens and the Science Centre in Jurong.

3. Be one with nature

For nature lovers, the sprawling Jurong Lake Gardens – Singapore’s third national gardens – is set to offer hours of respite as a green oasis amid the hustle and bustle of a commercial hub. The 90-hectare Gardens comprises Lakeside Garden, Chinese and Japanese Gardens, and Garden Promenade. It has an array of community spaces including nature play gardens and play pools set within lush greenery.

In particular, the Lakeside Apartments collective sale site sits right at the door step of Jurong Lake Gardens, promising future residents a tranquil living environment with sweeping views of the lake and greenery from the future residential development.

4. Enhanced connectivity

Both the Lakeside Apartments and Lakepoint Condominium collective sale sites are well-served by public transports, being near to the Lakeside MRT station on the East-West line. They are also easily accessible via major roads and expressways, such as the Ayer Rajah Expressway and the Pan Island Expressway, linking the two sites to the rest of Singapore.

Come 2027/2028, the JLD will also welcome a new Jurong Region Line station and the upcoming Jurong East integrated transport hub, which will house a bus interchange, offices, public facilities, and retail spaces. These facilities will further improve connectivity and bring greater convenience to commuters.

As the transformation of Jurong Lake District gathers pace, home buyers and property investors alike will be looking for opportunities to buy into the precinct’s growth. With limited new private homes available in the Lakeside area, the two collective sale sites that are exclusively marketed by PropNex will put developers in a pole position to tap the robust housing demand in the area.

Contact Tracy Goh, Head of Investment and Collective Sales at PropNex to find out more about the Lakeside Apartments and Lakepoint Condominium collective sale tenders.

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