Tapping on Jurong Lake District’s exciting transformation, J’den features a 38-storey residential tower with 368 apartments above a two-storey commercial podium (Image: CapitaLand Development)
CapitaLand Development (CLD) recently launched J'den for the public to visit its sales gallery from 28 Oct (Saturday) which is located offsite (away from the actual J'den location) near Kent Ridge MRT at 71 Science Park Dr.
More than 7,000 visitors visited J'den sales gallery on its first weekend of public preview last weekend, and sales bookings for J'den will commence next Saturday on 11 November.
The enthusiastic turnout for J'den is widely due to the pent-up demand in private residential launches in Jurong Gateway - the vibrant heart of Jurong Lake District, as the last condo launched there was exactly 10 years ago known as J Gateway.
J Gateway was launched ten years ago with all of its 738 units sold in a single day when the project previewed in June 2013 at an average selling price of $1,480 per square foot (psf) — a record for the area at that time. Recent transacted resale at J Gateway sold above $2,100 per square foot (psf).
Potential buyers were also confident in the developer CapitaLand's reputation and the strong interest and desire to own integrated condo as well as the exceptional locational and product attributes of J'den. Known for delivering high-quality and innovative developments, CapitaLand has a track record of creating iconic properties that align with global standards of excellence in architecture, design, and sustainability. The company is committed to sustainable development, consistently integrating eco-friendly practices and green building principles into its projects.
JCube was home to Singapore’s only Olympic-size ice-skating rink and was a training venue for national athletes from the Singapore Ice Skating Association and the Singapore Ice Hockey Association. The only other ice rink is located at Leisure Park Kallang. CapitaLand is in the process of tearing down JCube to make way for the building of J'den.
J'den will be linked directly to the Jurong East MRT interchange station, Westgate and IMM Building via J-Walk, which is a covered elevated pedestrian network in the district. Jurong East interchange station now serves the East-West and North-South lines, and will link up with the future Jurong Region Line, which will open in phases from 2027 as well as the upcoming Cross Island Line (CRL) therefore giving future residents of J'den the utimate convenience of having 4 MRT lines at its doorstep and it will also be linked to the upcoming Jurong East Integrated Transport Hub, which will include an air-conditioned bus interchange, a public library, a community club and a sports centre, among other commercial spaces.
CapitaLand has announced that J'den will launch at prices starting from S$2,100 per square foot (psf) for the 99-year leasehold fully integrated condo project which is a redevelopment of the former JCube, a leisure and edutainment mall in Jurong East.
Market analysts expect the average selling prices of J'den’s residential units to range between S$2,200 and S$2,300 psf, considering that J Gateway's recent transaction exceeded $2,100 per square foot (psf) with a land lease that is older than J'den by ten years. This is because CapitaLand topped up J'den's land lease to start from 30 Aug 2023 for the 99 year leasehold project.
Kiwi Lim from Huttons Asia (the appointed marketing agency) said "it is interesting to note that there are no freehold condo projects in the whole of the Jurong Lake District as the government intends to transform the whole district into a model city for the world to see - a Singapore 2.0 city."
The Jurong Lake District is a major regional hub and Singapore's 2nd CBD - ideal for the next generation of businesses and talent to redesign the way we live, work, play and learn.
Integrated condo developments are usually very popular with buyers who desire ultimate convenience and appreciate the luxury of having everything at right at their doorstep. An integrated development usually offers rare convenience and connectivity to residents that is not available in almost 95% of condo projects in Singapore by combining residential units with a shopping mall and a transport hub with direct access to MRT stations and / or bus interchanges. As such, many buyers are usually very willing to pay a higher price for a residential condo as their home or investment property that forms part of an integrated development.
This is especially so when the cost of car ownership is expected to rise with COE expected to exceed $200,000 by 2030. Recent COE (Certificate of Entitlement) prices already exceeded $150,000 in exchange for a licence allowing you to own a car for only 10 years. Therefore, many feel home buyers may be willing to tradeoff car ownership for a home with easy transportation access as a more sustainable and affordable option.
Located at Bukit Timah Nature Reserve, The Reserve Residences offers vibrant living in touch with nature within an urban centre in the rejuvenated Beauty World neighbourhood. More than 90% sold, click on image to find out more
Will J'den sell more than 70% on its preview next weekend?
The market is comparing J'den with another recently launched integrated condo project located at the foothills of Bukit Timah Nature Reserve known as The Reserve Residences that offers vibrant living in touch with nature within an urban centre in the rejuvenated Beauty World neighborhood that sold more than 70 per cent of its 732 units during its launch in one weekend at an average price of $2,460 per sq ft (psf) as reported by its developer Far East Organization and venture partner Sino Group.
The Reserve Residences is a thoughtfully curated integrated development with transport hub that features a blend of 1- to 5-bedroom luxury residences, serviced residences, retail and public spaces. Situated in the Beauty World neighborhood, seamlessly connecting it to transport networks and nature attractions.
J'den located at Jurong Gateway which is touted to be the 2nd CBD in Singapore with many more upside potential developments coming up when compared to The Reserve Residences, shares a few similarities together.
Both integrated condo projects benefit from a network of connectivity provided by a transport hub seamlessly connected to transport networks, close proximity to major expressways, and multiple walkways linking you to nearby amenities. Nature is a few minutes’ walk away, with nature parks, attractions and shopping malls to explore.
An acclaimed architectural masterpiece by a highly awarded architect - WOHA has crafted an environment that harmonises people with nature at The Reserve Residences. Generous open living spaces are naturally lit and ventilated, infused with textures and lush greenery. Thoughtful residence layouts maximise spatial flexibility and connect to the outdoors, enveloping residents in the panoramic views of the neighboring forested reserves.
As the year 2023 comes to an end, real estate professional Kiwi Lim believe that J'den may set the tone for next year's property market sentiment possibly affecting how developers would bid for upcoming GLS land in 2024.
"I expect supply for upcoming new condos to be lower in 2024 and 2025 as I do not foresee many successful enbloc sales in the next two years" said Kiwi Lim "potential enbloc sellers are asking high prices and foreigners who own properties in these potential enbloc projects may be unwilling to sell due to the high 60% ABSD they need to pay if they buy a replacement private residential property. Without land from enbloc deals, developers would be hard pressed to secure much needed land parcels from GLS"
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