Sell Larger Sites in Jurong

Sell Larger Sites in Jurong, Developers Tell URA

SINGAPORE – The Urban Redevelopment Authority (URA) has received some feedback from investors, businesses, and real estate developers on how to develop the city-state’s 2nd central business district (CBD), the Jurong Lake District (JLD), reported The Business Times on Monday noon (18 January, SGT).

Once JLD is fully developed, it is expected to accommodate 20,000 residential units and generate more than 100,000 jobs.

Among the recommendations is for the authorities to sell bigger land parcels “with attractive option schemes” to enable developers to try new project concepts that are hard to implement in Singapore’s main central business district (CBD), shared the URA’s Group Director for physical planning, Yvonne Lim.

To make JLD more appealing, iconic projects and attractions could be built there. Unique events may also be hosted, suggested industry stakeholders.

Another idea is to “activate the public realm through placemaking and provide exciting F&B (food and beverage), retail and lifestyle options that are different from those downtown,” Lim disclosed.

Based on URA’s website, placemaking is defined as the process of proactively overseeing public spaces to cultivate stronger ties with the community. It also involves the cooperation between local communities and business owners to promote and make their precincts more attractive.

Lim said the aforementioned on Monday during a seminar jointly organised by the Real Estate Developers’ Association of Singapore (REDAS) as well as Building and Construction Authority (BCA) to tackle the outlook of the country’s built environment in 2021.

She explained that the URA has been requesting feedback and suggestions from industry stakeholders on its plans for Jurong Lake District (JLD). She also shared that investors, businesses, and developers like JLD’s enhanced rail connectivity; a combination of different property uses (office, retail, hospitality, and residential); sustainable infrastructure and eco-friendly buildings; as well as the district’s verdant lakeside setting and car-lite environment.

Last May, the news agency reported that the URA was looking for a marketing consultancy to review the JLD’s concept plans, and to create marketing and communication strategies to attract investors, businesses, and developers to the precinct.

Back then, URA stated that there’s a need to raise people’s awareness about JLD by showcasing an exciting vision and story to position the district as a highly sought-after business address.

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