New Reporter
22-06-23, 17:37
Huge Jurong Lake District site for 1,700 housing units and at least 1.6m sq ft office space up for tender
Jun 22, 2023
A HUGE 6.5 hectare (ha) white site in Jurong Lake District has been released for sale to kick-start development of the largest commercial district outside Singapore’s city centre.
Spanning 365,000 square metres (sq m), the site has a minimum 146,000 sq m (about 1.57 million square feet) office component and a maximum residential component of 166,000 sq m, which will yield about 1,700 dwelling units. It will also include 73,000 sq m of complementary use – for shopping, food and beverage and hotel uses.
The site comprises three plots of land between Jurong East MRT interchange and the future Jurong Lake District station. Land cost alone for the development is expected to run into billions of dollars.
The massive parcel is the first to be launched within the 410 ha Jurong Lake District and will be connected to major business hubs such as Raffles Place and Tanjong Pagar in Singapore within 30 minutes. Amenities and public spaces will be within a 10-minute reach by walking, cycling and public transport.
On Thursday (Jun 22), the Urban Redevelopment Authority (URA) said the proposed integrated development will be completed within the next 10 to 15 years and provide the critical mass to propel the development of the future Jurong Lake District.
Yvonne Lim, URA’s group director of physical planning, said: “We have been sending very strongly the signal to decentralise, to create growth centres to bring jobs close to where people are living.
“This meets many planning objectives – to allow people to commute less, to enjoy the extra time they will gain by working and living in the same environment and also easing on public transport needs.”
In response to a question about URA’s vision for the Jurong Lake District site, Lim said: “Our vision for the district is to be a model sustainability district. We are looking at companies who are aligned with this vision and who are interested to be housed here. We really want to see a vibrant mix – offices, retail, F&B and housing.”
Plot 1, which spans 3.7 ha, will be available from Thursday. The developer can commence works on Plot 2, which spans 1.7 ha, after the interim Jurong East bus interchange occupying the site moves to the Jurong East integrated transport hub.
Construction works for the Jurong Regional Line are currently ongoing on the 1.1 ha Plot 3 which will be available for development from June 2026.
The site is sold under the Master Developer approach, where one single developer will master plan, phase and implement the entire development including the implementation of district infrastructure, provision of connectivity and public spaces.
Bids for the Jurong Lake District site will be evaluated under the Concept and Price-Revenue Tender Approach, which requires tenderers to submit their concept proposals and tender prices separately.
Each phase of the development must be completed within seven years, with the developer required to build a minimum of 70,000 sqm gross floor area of office space and a minimum 51,000 sqm gross floor area of residential space amongst other requirements within Phase 1. They are also required to include a supermarket and food court.
URA said that the government will sustain the development momentum at Jurong Lake District, through the release of sites for sale, with the supply carefully paced to take into account economic and market conditions.
Lim added that URA has engaged developers, potential tenants and prospective investors ahead of the launch of the site.
She said: “We are confident that as we continue to plan and sell this site we are able to continue to support developers’ needs and we also see that going forward that Singapore will continue to focus our growth and development in this district.”
When fully developed, Jurong Lake District will also house the revitalised Chinese and Japanese Gardens and the new Science Centre that will be completed around 2027. The entire district is expected to provide over 100,000 new jobs and 20,000 new homes between 2040 and 2050.
The tender for the 6.5 ha site will close at 12 pm on Mar 26, 2024.
https://www.businesstimes.com.sg/property/huge-jurong-lake-district-site-1700-housing-units-and-least-16m-sq-ft-office-space-tender
Jun 22, 2023
A HUGE 6.5 hectare (ha) white site in Jurong Lake District has been released for sale to kick-start development of the largest commercial district outside Singapore’s city centre.
Spanning 365,000 square metres (sq m), the site has a minimum 146,000 sq m (about 1.57 million square feet) office component and a maximum residential component of 166,000 sq m, which will yield about 1,700 dwelling units. It will also include 73,000 sq m of complementary use – for shopping, food and beverage and hotel uses.
The site comprises three plots of land between Jurong East MRT interchange and the future Jurong Lake District station. Land cost alone for the development is expected to run into billions of dollars.
The massive parcel is the first to be launched within the 410 ha Jurong Lake District and will be connected to major business hubs such as Raffles Place and Tanjong Pagar in Singapore within 30 minutes. Amenities and public spaces will be within a 10-minute reach by walking, cycling and public transport.
On Thursday (Jun 22), the Urban Redevelopment Authority (URA) said the proposed integrated development will be completed within the next 10 to 15 years and provide the critical mass to propel the development of the future Jurong Lake District.
Yvonne Lim, URA’s group director of physical planning, said: “We have been sending very strongly the signal to decentralise, to create growth centres to bring jobs close to where people are living.
“This meets many planning objectives – to allow people to commute less, to enjoy the extra time they will gain by working and living in the same environment and also easing on public transport needs.”
In response to a question about URA’s vision for the Jurong Lake District site, Lim said: “Our vision for the district is to be a model sustainability district. We are looking at companies who are aligned with this vision and who are interested to be housed here. We really want to see a vibrant mix – offices, retail, F&B and housing.”
Plot 1, which spans 3.7 ha, will be available from Thursday. The developer can commence works on Plot 2, which spans 1.7 ha, after the interim Jurong East bus interchange occupying the site moves to the Jurong East integrated transport hub.
Construction works for the Jurong Regional Line are currently ongoing on the 1.1 ha Plot 3 which will be available for development from June 2026.
The site is sold under the Master Developer approach, where one single developer will master plan, phase and implement the entire development including the implementation of district infrastructure, provision of connectivity and public spaces.
Bids for the Jurong Lake District site will be evaluated under the Concept and Price-Revenue Tender Approach, which requires tenderers to submit their concept proposals and tender prices separately.
Each phase of the development must be completed within seven years, with the developer required to build a minimum of 70,000 sqm gross floor area of office space and a minimum 51,000 sqm gross floor area of residential space amongst other requirements within Phase 1. They are also required to include a supermarket and food court.
URA said that the government will sustain the development momentum at Jurong Lake District, through the release of sites for sale, with the supply carefully paced to take into account economic and market conditions.
Lim added that URA has engaged developers, potential tenants and prospective investors ahead of the launch of the site.
She said: “We are confident that as we continue to plan and sell this site we are able to continue to support developers’ needs and we also see that going forward that Singapore will continue to focus our growth and development in this district.”
When fully developed, Jurong Lake District will also house the revitalised Chinese and Japanese Gardens and the new Science Centre that will be completed around 2027. The entire district is expected to provide over 100,000 new jobs and 20,000 new homes between 2040 and 2050.
The tender for the 6.5 ha site will close at 12 pm on Mar 26, 2024.
https://www.businesstimes.com.sg/property/huge-jurong-lake-district-site-1700-housing-units-and-least-16m-sq-ft-office-space-tender