- Jurong Lake Gardens - A Key Feature of JLD
- Jurong Lake District - A Place to Live, Work and Play
- Upcoming Commercial & Residential Developments In Jurong Lake District
- En bloc Redevelopments
- New Integrated Transport Hub and MRT Stations
- New Jurong Regional Library
- Planned Integrated Tourism Development In Jurong Lake District
- New Singapore Science Centre
- Jurong Innovation District (JID) - An Advanced Manufacturing Hub
- Jurong Lake District - A Property Investment Outlook
- Jurong Lake District Property Price Trends
- Conclusion
- JLD Frequently Asked Questions (FAQ)
- Review of New Property Launches
The Jurong Lake District (JLD) is a major development project in western Singapore aimed at creating new business and leisure opportunities outside the Central Business District (CBD). In fact, it will become Singapore’s second-largest Central Business District (CBD) outside the city.
It will also be a model for urban sustainability under the Singapore Green Plan 2030, which is a whole-of-nation initiative that seeks to galvanise action from all sectors of society to build a more sustainable future for Singapore. This is in line with Singapore’s commitments under the UN’s 2030 Sustainable Development Agenda and Paris Agreement, which aims to achieve the net zero emissions aspiration by 2050.
At the same time, it will spearhead Singapore’s ambition to be a carbon services hub and a leading centre for green finance in Asia and globally.
Jurong Lake District Map
Meanwhile, the Urban Redevelopment Authority (URA) is leading the development of the Jurong Lake District, with a focus on building commercial and residential developments, as well as amenities and recreational facilities. The goal is to transform Jurong into a hub for business, innovation, and leisure.
The plans for Jurong Lake District have continued to evolve since its blueprint was first unveiled in the URA Master Plan 2008.
It is a 410-hectare development that consists of four main precincts:
- Jurong Gateway - the existing commercial node around Jurong East MRT station.
- Lakeside East - a new mixed-use precinct around the future Cross-Island Line station.
- Lakeside West - a complementary leisure and recreational precinct surrounding Jurong Lake Gardens.
- International Business Park - a commercial and business hub that focuses on R&D, technology, and knowledge-based industries.
Jurong Lake Gardens - A Key Feature of JLD
The Jurong Lake Gardens is a key feature of the Jurong Lake District and a top attraction for residents and nature lovers in Singapore.
Offering a wide range of landscapes and activities for visitors of all ages, the 90-ha park consists of the Chinese Garden, Japanese Garden, and Lakeside Garden. Each of these areas offers a unique experience, with different flora, fauna, and landscapes to discover.
Chinese Garden -Â A popular destination that takes inspiration from the classical gardens of Suzhou, China. The garden features a picturesque landscape, including a stunning bonsai collection, a pagoda, and a tranquil bridge.
Japanese Garden -Â Another popular destination with traditional Japanese architecture, a koi pond, and a tea house for visitors to relax and enjoy its peaceful surroundings.
Lakeside Gardens - It offers a waterfront experience with a boardwalk, playground, and a variety of flora and fauna, including over 90 species of birds. Visitors can also participate in various outdoor activities such as cycling, skateboarding, fishing, and nature exploration. They can also take part in water sports like kayaking, canoeing, and paddle boating.
The Jurong Lake Gardens is equipped with a range of amenities to facilitate an enjoyable outdoor experience for everyone. These include children's play areas, restrooms, drinking fountains, food and beverage outlets, and shelters.
By providing a welcoming experience, the Jurong Lake Gardens offers visitors a chance to escape the hustle and bustle of the city, enjoy a leisurely stroll through various gardens, or simply appreciate the beauty of nature.
Hence, it is no surprise that it has become a popular destination for locals and tourists alike while contributing significantly to the overall development of the Jurong Lake District.
Therapeutic Garden.
Children's Playground.
Sky Corridor
Jurong Canal Drive Extension
Upcoming Commercial & Residential Developments In Jurong Lake District
New Commercial and Residential Developments
To kickstart the next phase of development in Jurong Lake District, the government has released 6.5 ha of land that will be split into three plots. It is to be sold to one master developer to plan a mix of offices, private homes and other amenities.
The three plots have the potential to yield about 1,700 housing units, at least 146,000 sq m of office spaces, and 73,000 sq m of gross floor area for other purposes, like retail, food and beverage, and entertainment.
In the first phase, at least 600 private housing units, 70,000 sq m of office space, an early childhood development centre, a supermarket and a foodcourt have to be built, according to URA.
They will be linked to the existing commercial centre at Jurong East MRT interchange station to a new precinct and the future Jurong Lake District station on the Cross Island Line. The entire project will be linked by an elevated and underground pedestrian network. This will enable pedestrians to move around without the need to cross any traffic junctions, providing convenient to access facilities, green spaces and public transport nodes such as the three MRT stations (Jurong East, Jurong Lake District, & Jurong Town Hall) within 10 minutes by walking, cycling and public transport.
The proposed integrated development will be progressively completed over the next 10-15 years.
Land Plots for Development
The first land plot, which sits on part of the land that was formerly occupied by the old Jurong Country Club south of Jurong Town Hall Road, is available for development immediately.
The second plot, where the existing bus interchange is, will be made available in 2028 or 2029. The last plot, where the Jurong Region Line is being constructed, will be freed up from June 2026 onwards.
Seeking A Single Master Planner
The Urban Redevelopment Authority (URA) seeks to offer the entire project to a single master developer. This will allow it to draw up a comprehensive plan for the white sites while having the flexibility to "experiment with new development concepts and building typologies".
The master developer will be required to adopt district-level urban solutions such as a district cooling system and pneumatic waste conveyancing system. The URA said these systems will allow for a more efficient supply of chilled water and of waste disposal. This is in line with the plan to make the Jurong Lake District a model of sustainability that is also car-lite.
Due to the scale of the project, this may involve a joint venture with other local or foreign developers.
En bloc Redevelopments
Besides land being offered under the government land sale (GLS) programme for residential developments, new supply will also come from en bloc redevelopments.
In May 2022, Lakeside Apartments at Yuan Ching Road was sold to Winville Investment, a subsidiary of Singapore-listed Wing Tai Holdings. The developer plans to turn the 12,465.4 sq m (134,177 sq ft) site into a more than 300-unit residential development with unobstructed views of Jurong Lake Gardens, which include the Chinese Garden and Japanese Garden.
The new development, known as Lakegarden Residences, is expected to be launched in the 3rd quarter of 2023.
After Lakeside Apartments, Park View Mansions, also located at Yuan Ching Road, was sold en bloc in July 2022 to a joint venture of Chip Eng Seng Corporation, KSH Holdings and SingHaiyi. Located next to the Jurong Lake Gardens, they intend to redevelop the site into a condominium with up to 440 units.
Meanwhile, Lakepoint Condominium, located about 7 minutes walk from the Lakeside MRT station, has attempted an en bloc sale. Currently, it is undergoing private treaty discussion.
The latest development to join the en bloc fray is Lakeside Towers. Located only about 220m from the upcoming Lakegarden Residences (former Lakeside Apartments), it can yield an estimated 395 apartments, if successful.
If you wish to receive updates on these developments, please WhatsApp Me.
New Integrated Transport Hub and MRT Stations
Currently, the district is served by three MRT stations – Jurong East (an interchange between the East-West and North-South Line), Chinese Garden (East-West Line), and Lakeside (East-West Line). In the not-too-distant future, the Jurong East station will be joined by the Jurong Regional Line.
New MRT Stations
As part of the development of the Jurong Lake District, more MRT stations will be built. These include the Jurong Town Hall (Jurong Regional Line) and Jurong Lake District (Cross Island Line) stations. They are expected to be operational by 2028 and 2032, respectively.
The Jurong Regional Line, when completed, will offer convenient access to the Nanyang Technological University (NTU), a research-intensive and one of the leading universities in the world.
Meanwhile, the construction of the Jurong East integrated transport hub (ITH) is already in progress. Completion is expected in 2027.
An integrated transport hub is a fully air-conditioned bus station that is connected to an MRT station and nearby commercial developments such as shopping malls. The Jurong East integrated transport hub will include a 27-story building connected by a sky bridge to an 8-story building. These two buildings will house offices, retail spaces and other public facilities.
New Jurong Regional Library
The Jurong Regional Library will be relocated from its current site to the Jurong East integrated transport hub 400m away.
Set to open in 2028, the relocation is part of the plan to create a cluster that will include a community club and sports centre to serve residents in the West region. This will complement the vibrant commercial node around Jurong East MRT station.
The site of the current Jurong Regional Library is set to be replaced by a residential development with shops at the first storey, according to the updated URA’s master plan. This is to inject more varied uses into the area as part of the broader effort to develop Jurong Lake District into the largest business district outside the city.
This will bring jobs closer to home and support Singapore's economic development.
Planned Integrated Tourism Development In Jurong Lake District
Integrated Tourism Development
Recently, the Singapore Tourism Board (STB) has unveiled plans to develop a new integrated tourism development in JLD. It is envisaged to be a world-class destination that will offer a mix of attractions, a hotel, retail, F&B, and entertainment, with themes focused on technology, edutainment, sustainability, and wellness.
Located adjacent to the new Science Centre and the Jurong Lake Gardens, this iconic development will help to strengthen and enhance Singapore’s tourism experiences in the post-pandemic world.
New Singapore Science Centre
A new science centre in Singapore is set to open in 2027 in the Jurong Lake District. it will be located next to the Chinese Garden MRT station.
It aims to be a one-stop destination for visitors to access STEM education and experiences. to achieve this, a new observatory and digital fabrication lab will be built.
The design of the new Science Centre is inspired by the natural landscape and lake at Jurong Lake Gardens. The building will consist of five interlocking rectangular blocks with large windows, which will offer strategic views of the lake.
It will also optimize the use of the surrounding landscape, creating a structure that looks to be floating above the parkland and lake.
The new centre will include several new features such as a children's gallery, which will have its own interactive outdoor waterplay area, discovery trails in a secondary forest, and a sensory trail at the roof garden. There will also be specialized labs and workshops, and an outdoor activity plaza.
The focus of the new Science Centre will be on sustainability. Hence, it will adopt green technologies and intelligent building management systems to reduce energy use, as well as educate visitors on sustainability practices such as vertical farming systems, through programmes and exhibitions.
There are also plans to strengthen existing collaborations and grow new partnerships with local companies, schools, institutes of higher learning, and the community to co-create STEM programmes, exhibitions, and relevant activities.
New Singapore Science Centre
Singapore Science Centre Exhibition Gallery
Jurong Innovation District (JID) - An Advanced Manufacturing Hub
Map of JLD, JID, and Tuas Port
In addition to the above-mentioned plans, the government has also implemented several initiatives to promote the Jurong Lake District as a hub for business, high technology, and innovation. This includes the Jurong Innovation District (JID) announced in 2019.
The Jurong Innovation District (JID) covers a 600-ha area that includes the Nanyang Technological University, JTC's CleanTech Park, as well as the Bulim, Bahar and Tengah areas.
Envisaged as a new growth engine for Singapore’s economy, the JID is designed to be a hub for innovation and collaboration. It will bring together researchers, academics, entrepreneurs, and industry partners to work on cutting-edge projects and develop new technologies.
The district is being developed with a focus on key sectors such as advanced manufacturing, urban solutions, artificial intelligence, and smart logistics. The aim is to create a supportive environment that fosters innovation and entrepreneurship and to attract and retain talent in Singapore.
The district is being built with a range of facilities and amenities, including state-of-the-art research and development workspaces, co-working areas, incubation, and acceleration programmes. The aim is to create a live-work-play environment that promotes collaboration and creativity.
Besides being a major employment hub, the JID is another key initiative by the Singapore government to create a more innovative and sustainable future.
Jurong Innovation District
JLD, JID and NTU Map Location
Jurong Lake District - A Property Investment Outlook
With the government pouring significant resources into the development of Jurong Lake District, making it the largest business district outside the city, this will ultimately boost the value of properties.
However, many of the exciting developments are still ongoing or in their planning stage, which will provide property investors a first-mover advantage. Hence, it is no surprise that Copen Grand, an executive condominium located at Tengah nearby, was fully sold a month after its launch in October 2022. This attests to the confidence that properties in the Jurong Lake District will continue to enjoy significant growth potential.
For those who missed out on Copen Grand, the next executive condo launch in the west will be at Bukit Batok West Avenue 8. Known as Altura Executive Condo, it is expected to be launched around 2Q 2023.
Meanwhile, the Lakegarden Residences (former site of Lakeside Apartments at Yuan Ching Road) will be launched on 22 June 2023, while Park View Mansions (also at Yuan Ching Road) will likely be launched end-2023. Future developments will include rebuilding JCube into a mixed-use development. Known as J'Den, it is expected to be launched in the second half of 2023 and will comprise a 40-storey residential block with commercial on the first and second storey.
New housing developments will also be built around the Jurong East MRT Interchange which will yield about 1,760 residential units, as announced by URA on 8 December 2022.
For those looking for more immediate property investment may wish to consider two upcoming developments at one-north. Located near the Buona Vista MRT station, which is 3 stops from Jurong East, they will likely be launched in 2Q 2023.
- Blossoms By The Park, a 265-unit mixed-use development
- The Hill @ One-North, a 142-unit mixed-use development
For more information and to be invited to their launch preview, please feel free to WhatsApp Me.
Jurong Lake District Property Price Trends
In the chart below, we will examine how property prices have performed since the government announced the development of the Jurong Lake District in April 2008. Three main property segments are highlighted:
- Private condominium
- Landed housing
- HDB flats
District 22 Property Price Trends
As can be seen, after former Minister of National Development (MND) Mah Bow Tan announced the development of the Jurong Lake District in April 2008, property prices shot up.
- Private condominiums: +119.48%
- Landed housing: +144.65%
- HDB flats: +88.49%
Property prices have continued to trend higher as the transformation gathers pace with developments such as the Jurong East Integrated Transport Hub and Jurong Innovation District (JID), for example.
Prior to the announcement of the development of the Jurong Lake District, property prices for all three segments were either stagnant or even declining.
From the above chart, it is also notable that the average prices of HDB flats have appreciated less than private properties. One of the reasons is that financing for HDB flats is based on Mortgage Servicing Ratio (MSR), which is set at 30%. Whereas for private residential properties, it is based on Total Debt Servicing Ratio (TDSR) at 55%.
In other words, financing for HDB flats is more stringent. This effort by the government is to keep public flats more affordable to the masses. But at the same time, it limits their investment potential. Unsurprisingly, this has prompted many HDB owners to switch to private properties after they have completed their 5-year Minimum Occupation Period (MOP).
Conclusion
The development of the Jurong Lake District offers a great opportunity for those looking to invest in the Western region of Singapore. With its focus on sustainability, innovation, and leisure, the development promises to be a vibrant and dynamic ecosystem to work, live, play, and study.
Moreover, its strategic location and excellent connectivity to the rest of Singapore offer great investment potential.
In conclusion, sound property investment involves many factors, which include seizing the growth opportunity under the URA Master Plan. If you are keen to find out about our "7 Steps Framework to Identify Low-Risk High-Profit Potential Properties", please WhatsApp Me.
JLD Frequently Asked Questions (FAQ)
Where is the Jurong Lake District?
The Jurong Lake District is a major development project in western Singapore aimed at creating new business and leisure opportunities outside the Central Business District (CBD). It also seeks to bring more jobs closer to people living in the region.
Why Jurong Lake District can offer promising property investment?
The Jurong Lake District is expected to create 100,000 new jobs and 20,000 new homes by 2040 to 2050, which will ultimately boost the demand for housing and commercial properties in the area.
JLD is also well-connected to other parts of Singapore due to its excellent public transportation infrastructure and is served by major roads. The world-renowned Nanyang Technological University (NTU) and major industrial hubs such as Jurong Innovation District and Tuas mega port are also located nearby.
What are the MRT lines serving the Jurong Lake District?
Currently, the Jurong Lake District is served by the East-West and North-South Lines. But in the future, two new lines will be added to the district - Jurong Regional Line by 2028 and Cross Island Line by 2032.
What are some of the upcoming developments in Jurong Lake District?
Some of the upcoming developments in Jurong Lake District include a new Science Centre, a regional library, a community club and sports centre, as well as a major tourism development.
How do Jurong Lake Gardens play a major role in the development of Jurong Lake District?
Jurong Lake Gardens plays a significant role in the development of the Jurong Lake District (JLD) by offering significant green and recreational spaces to complement the government's effort to turn it into the largest business district outside the city.
Besides providing residents, visitors, and workers with green spaces for leisure, recreation, and relaxation, it also contributes to the overall aesthetic appeal and environmental sustainability of the district. This can potentially increase the value of nearby properties in the district.
Review of New Property Launches
Besides the above new property launches, you may wish to check out the following:
- Newport Residences (former Fuji Xerox Towers), a mixed-use development next to the Greater Southern Waterfront.
- Skywaters Residences (former AXA Tower), a mixed-use development opposite Tanjong Pagar MRT station.
- Marina View Residences, an upscale mixed-use development at Marina Bay.
- Hill House, a 999-year boutique development located off River Valley Road.
- Perfect Ten, a luxurious condo development located between Newton and Stevens MRT stations.
- Terra Hill, a hillside condo development 350m from Pasir Panjang MRT station.
- The Continuum, a freehold condo near Paya Lebar and Dakota MRT stations.
- Tembusu Grand, a condo development a short walk from Tanjong Katong MRT station.
- Grand Dunman, a condominium development beside the Dakota MRT station.
- The Reserve Residences, a mixed-use development in District 21 linked to Beauty World MRT station.
- The Arden, a 99-year condo near Phoenix LRT station.
- Sceneca Residence, a mixed-use development linked to the Tanah Merah MRT station.
- Botany At Dairy Farm, a 99-year condo development near Hillview MRT station.
- Lentor Hills Residences, a 99-year condominium near Lentor MRT station
Click on the link for more project information.
