Rich rewards could lie ahead for Jurong Lake District’s master developer

The hope is that the consortium’s five property giants can start work soon and help JLD succeed as the second CBD

Leslie Yee

Published Wed, Mar 27, 2024 · 06:34 PM

KUDOS to CapitaLand Development, City Developments Limited : C09 0% (CDL), Frasers Property : TQ5 0%, Mitsubishi Estate, and Mitsui Fudosan (Asia) for submitting two joint bids, with different concept proposals, for the master-developer site at Jurong Lake District (JLD).

The tender for the said JLD site which closed on Tuesday (Mar 26) drew no other contenders besides the consortium of the five Asian property giants.

Interest rates remain elevated and construction costs are high. As it stands, homebuyers are subject to tough property cooling measures.