URA releases carved-out Jurong Lake District site for sale

[SINGAPORE] The Urban Redevelopment Authority (URA) on Friday (Jul 3) launched a public tender for the first Jurong Lake District (JLD) plot at Town Hall Link.

The 3.72-hectare (ha) mixed-use site is the first to be carved out of a massive area previously tendered for a master development project. Analysts expect the parcel to fare better than the earlier master-developer site, although it would still require a substantial capital commitment; land costs could exceed S$2 billion.

The Town Hall Link white site has a maximum gross floor area (GFA) of 186,139 square metres (sq m), with a gross plot ratio of five. Of this, at least 40,000 sq m will be set aside for offices, up to 126,000 sq m for homes and serviced apartments, around 20,000 to 44,000 sq m for retail, and at least 800 sq m for a childcare centre. 

The remaining GFA may be allocated to additional office space, hotels, sports and recreational facilities, civic and community institutions, medical clinics and attractions, as well as other “complementary uses”.

That translates to around 1,200 new private homes, up to 24,000 sq m of serviced apartments and 83,200 sq m of commercial space. 

With the Town Hall Link site up for sale, URA said this kick-starts the next phase of developing the 120-ha new Jurong Lake Central precinct within JLD.

It will also support the medium-term growth in demand for housing and offices, the agency said. 

To reduce development complexity and “make the site more attractive to developers”, the government said it would undertake a greater share of infrastructure and land preparation works for the area south of Jurong Town Hall Road, where the Town Hall Link site sits. 

These include the demolition of state properties, construction of a new road and sewer, expunction of part of Science Centre Road, and the diversion of existing services, which were requirements previously set for the JLD master-developer site. 

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Authorities will also build a common services tunnel upfront to house key infrastructure, such as district cooling and pneumatic waste conveyance systems. 

New roads will include utility ducts, water mains and sewer networks to support future developments in the precinct, it added. “This will also provide capacity for expansion to meet the evolving needs of businesses and communities.” 

Demolition and utility diversion works are expected to be completed by end-2026. Works for the common services tunnel, utility ducts, roads and sewers are slated for completion by 2031. 

Additionally, the Land Transport Authority (LTA) will construct an underground pedestrian link connecting the Town Hall Link site to a station on the upcoming Cross Island Line, which is scheduled to open in 2032. 

The agency will also build covered linkways to provide “seamless and sheltered” access between the Town Hall Link parcel and Jurong East MRT station, until “more permanent” ground-level and elevated pedestrian walkways are completed – when the two plots to the south of the station are developed. 

The government’s substantial upfront investment in infrastructure in JLD underscores its commitment to the district’s transformation into “a major business and lifestyle destination”, URA said.

Beyond strengthening the area’s connectivity, other developments under way include the new Science Centre, Jurong Gateway Hub and more housing near Jurong East MRT station and Jurong Lake Gardens. 

More government agencies, including LTA and the Ministry of Sustainability and the Environment, are studying plans to relocate offices to JLD, adding to existing public-sector tenants and helping to drive business activity in the district, it said.

Authorities are working with existing stakeholders to rejuvenate the adjacent International Business Park with more mixed-use developments, better transportation links, and to support new economic sectors and the “thriving R&D community”, URA added. 

Plans for JLD

The 6.5-ha JLD master-developer site was first released under the confirmed list of the H1 2023 government land sales (GLS) programme.

It comprised three plots of land to be built over 10 to 15 years, housing at least 1.5 million square feet (sq ft) of office space, up to 1,700 homes and close to 800,000 sq ft of space for other uses, such as retail and F&B. 

In March 2024, a five-member consortium offered S$640 per square foot per plot ratio for the parcel. This was later rejected for being “too low”. 

The massive site was later placed on the state’s reserve list, where it could be activated for tender, subject to a minimum price that is acceptable to the government.

Its minimum office quantum was reduced to 100,000 sq m from 146,000 sq m, while the maximum residential GFA was increased to 186,000 sq m. 

The parcel was later split into smaller plots, starting with the white site at Town Hall Link on the reserve list of the H1 2026 GLS programme. 

This would help advance the development of JLD as the largest mixed-use business district outside the city centre, the Ministry of National Development had said. 

It also takes into account macroeconomic and property market conditions, and feedback gathered from industry stakeholders, it added.

In March, URA released the Town Hall Link site for sale under the reserve list to “provide time for potential tenderers to study the revised planning and tender requirements”. 

It is now up for public tender and will shape JLD’s next chapter of development, URA said.

Marcus Chu, ERA Singapore’s chief executive, believes that the Town Hall Link site is unlikely to “meet the same fate” as the previously tendered master-developer site due to its “more palatable size” and government support for certain infrastructure works, which would reduce construction costs. 

Residential developments in such mixed-use projects also tend to attract strong demand from buyers, he said. In March, the mixed-use Pinery Residences in Tampines sold 92.5 per cent of its 588 units on its launch weekend, at an average selling price of S$2,546 per square foot. 

Demand for private housing in Jurong East remains healthy, supported by a large population of public housing upgraders in the region, said Mogul.sg chief research officer Nicholas Mak. 

The last major private residential launch in the area was the 99-year leasehold Sora, which came to market in July 2024 at a median price of S$2,152 psf; in H1 2026, the median transacted price at the development stood about 10 per cent higher, at S$2,366 psf. 

Mak added that J’den, launched in November 2023, earlier than Sora, achieved the highest price among the newer Jurong East projects because of its being nearer the Jurong East town centre. 

“As the (Town Hall Link) site is also located near the Jurong East town centre, the residential units in this project are expected to set a new record price for the Jurong East area when they are launched for sale, probably in 2028,” he said. 

In the office market, Realion Group deputy group CEO Justin Quek noted that occupancy rates in Jurong East have generally remained healthy.

He said: “The relocation of the existing container terminals into the Tuas mega port has further increased the take-up rate for offices in the locality.

“Companies looking to move part of their non-core operations to the suburbs for greater cost efficiency may also drive office demand here, especially given the strong connectivity with four MRT lines.” 

Nonetheless, Quek pointed out that the entire development would require a significant capital outlay due to its “still-large GFA”. 

Even with the changes to the tender requirements, Mak said the development remains complex and would require “specialised expertise” on top of the “huge capital investment”. 

Market watchers expect the tender to draw no more than four bids, with offers possibly topping S$2 billion, or about S$1,100 to S$1,200 psf psf ppr.

The tender for the Town Hall Link site closes on Nov 17.