Choice Location With Excellent Connectivity
Fronting Jurong Lake, the land parcel is located within an established residential area. Existing condominium developments nearby include Lakepoint, Lake Holmz, Caspian, Parc Vista, The Lakeshore and the upcoming Lakeville. With Lakeside MRT Station just a few minutes’ walk away, residents will enjoy convenient access to all parts of the island.
Shopping, Dining And Other Amenities
The land parcel is located near existing shopping, dining and entertainment facilities at Jurong Point, JCube, Jem and Westgate.
Numerous schools such as Jurong Junior College, River Valley High School, Rulang Primary School and Canadian International School are located in the vicinity. The Nanyang Technological University is also a short drive away.
Top Bid: MCL Land (Vantage) Pte. Ltd
Bid Amount: $338,118,000
Total Bids: 9
Estimated Dwelling Units: 600
Project Name: Lake Grande
Charged with confidence from its experience with launching two condo projects in Jurong growth region in the past two years, MCL Land on Tuesday placed the top bid of S$338.12 million or S$630.13 per square foot per plot ratio (psf ppr) for Jurong West Street 41 (Parcel B).
The breakeven cost for the project on Parcel B is estimated to be slightly over S$1,000 psf and the selling price will likely be around S$1,300 psf. The launch is likely to be late this year or early next year.
MCL Land’s chief executive, Koh Teck Chuan, said: “We know the pulse of the Jurong area, its buyer profile and their purchasing power. We are very confident of Jurong, which has the strongest growth story of all the regional centres in Singapore. And of course we’re also hoping that the Singapore-Malaysia high-speed rail system terminus will be located in Jurong East – which would give a further boost to the area.”
Mr Koh is confident that at MCL’s bid price for parcel B, there will still be demand in the area. “The big question is quantifying the impact that the new requirement to use prefabricated prefinished volumetric construction (PPVC) will have on raising construction costs,” he added. “We’ll be targeting more the younger families while still catering to predominantly owner-occupier demand for the new project.”
Mr Koh said the proposed project on Parcel B will comprise close to 600 units, of which a higher proportion, of around 60 per cent, will be smaller one and two-bedroom units. This will complement the unsold units in Lakeville which are mostly three and four-bedders.
- Walk to Lakeside MRT Station
- Magnificent views of Jurong Lake
- Transformation of Jurong Lake District
- MCL Land – renowned developer with excellent track record in Jurong growth region
- Surrounded by schools & extensive amenities
- 60% of the units will be 1 or 2 bedroom units – suitable for investment & small families
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