Saturday 27 February 2021
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Home Prices to be Boosted by Business- Leisure Hub Plans

Property consultants shared their opinion with The Strait on the latest plan for the Jurong district. Accordingly, the plan to make the Jurong a center for business and leisure will provide for the possible boost in the home prices located in the area. The heightened optimism for the area was due to announcement of the development of Jurong Lake Gardens and other projects in the coming years.

A terminal of Kuala Lumpur – Sinagpore High Speed Rail is also rumored to arise in the area. The new Science Center, which is among the proposed developments in the area, will be built next to Chinese Garden MRT station. This latest plan supersedes the earlier plan to make Jurong the largest commercial center outside of the Central Business District.

A 20% increase on the rental of houses in the area in the coming 3 years. One major influence to this is the opening of Ng Teng Fong General Hospital and availability of other amenities as such found in premium sites like Bishan. They include of course schools, parks and malls.

That is similar to the premium paid in estates like Bishan with its major park and schools, and Queenstown, which is close to the CBD.

Lakeside which is located in the Jurong Gateway is now a buzzed-about private residential site. The majority of newly completed condominiums with 99 years of leasehold are offered for about $1,000 psf. The latest launches in the area like Lakeville are offered at around $1,300.

If ever the terminus would push through, Jurong will be given more consideration than other major areas like Tampines.

Victor Tay, Chief Operating Officer of Singapore Business Operation, further noted: “ “The longer-term prospect that the rail will cut across more than 10 Asean countries, linking to Guangxi in China, presents immense trade potential for businesses…”

He is positive that Jurong will be considered as a strategic gateway to Asean and China.

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