Magazines Archives - 2010 July

JCube to launch in 2012
Story 10 - Property Update

SINGAPORE’S CapitaMall Trust Limited (CMT) has broken ground at the 200,000sqf development in the western suburb of Singapore, formerly known as Jurong Entertainment Centre. The company had revealed plans to renovate the mall in 2008, but had to hold them off due to higher construction costs, which have since dropped as much as 20%.

Now, with lower construction costs and a better economic situation, the new mall, which is slated to open by the first quarter of 2012, is expected to contribute about S$16 million (US$11.6 million) in net property income to the company annually.

With five retail floors and two basement car-park levels, the S$200- million mall, called JCube, will house a new Olympic-sized ice-skating rink, a cinema, supermarket and food court. Designed by RSP Architects, together with international design firm Benoy, the new mall will target young PMEBs (professionals, managers, executives and businessmen) and residents in the western region of the city-state with its high-street fashion retailers as well as round-the-clock entertainment and F&B outlets.

“The complete makeover of Jurong Entertainment Centre into a brandnew mall will offer significant value creation,” said James Koh, chairman of CMT Limited. “JCube will capitalise on increased patronage arising from the government’s plan to transform Jurong into a vibrant commercial and leisure destination in the next 10-15 years,” he continued.

Simon Ho, CEO of CMT Limited, added: “JCube will be a multi-faceted lifestyle destination offering spectacular design and unrivalled shopping experiences to the young, professionals and residents living and working in Jurong Lake District. The new name is unique yet catchy and will appeal to the young whom we have identified as one of the target shoppers. Drawing shoppers to the mall will be the latest high-street brands, fashionable dining establishments and cafes, entertainment outlets like pubs, bars and a cineplex, as well as essentials such as a supermarket.”

Additionally, the new development will feature eco-friendly facilities such as a rainwater harvesting tank and a water-recycling system. The building will also house an outdoor terrace on the second floor as well as a landscaped rooftop garden with event space on the top floor. ra

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