Jurong East mega white site a bold test of office space demand in vicinity
Despite reservations among some property market watchers about the depth of office demand in the vicinity of Jurong East MRT station, the Ministry of National Development has boldly placed a mega white site with a mandatory office component, on the confirmed list of the first-half 2023 Government Land Sales (GLS) programme.
A sale of the site will help position Jurong Lake District as Singapore’s largest business district outside the city centre, say property consultants.
The 6.8-hectare site will be sold to a master developer, which will build the project of up to 375,000 square metres (or slightly over 4 million square feet) gross floor area (GFA). This can be developed in phases over the next five to 10 years.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Developers sell 301 new homes in April; down 58% on fewer launches
Sandpiper Hotel in Little India back on the market for S$33 million
China mulls government purchases of unsold homes to ease glut
Europe’s property slump easing as rents increase, report says
Tuan Sing confirms acquisition of Fraser Residence River Promenade for S$140.9 million
Consortium led by UOL, CapitaLand places top bid of S$805.39 million for Holland Drive site