Jurong Lake District master developer site to be split into parcels for sale

Reduced development risk gives developers greater confidence to take on project: MND

- Grace Leong Senior Correspondent

A 6.5ha master developer site in Jurong Lake District (JLD) will now be sold as smaller separate parcels, as part of revised plans to develop Singapore's largest mixed-use business district outside the city centre.

This will start with the release of a white site in Town Hall Link on the 2026 first-half reserve list, giving potential tenderers time to study the revised planning and tender requirements, said the Ministry of National Development (MND) in a statement on Dec 2.

Reserve list plots are released for sale only if a developer offers a minimum price deemed acceptable to the Government, and there is sufficient market interest.

MND said it decided to carve out the Town Hall Link site after taking into account "macroeconomic and property market conditions, as well as market feedback gathered from extensive engagements of industry stakeholders".

In September 2024, a tender for the JLD master developer site was not awarded as a bid of about $2.5 billion, or $640 per square foot per plot ratio from a consortium of five real estate heavyweights - CapitaLand Development, City Developments, Frasers Property, Mitsubishi Estate and Mitsui Fudosan (Asia) - was deemed too low.

As the Town Hall Link white site's gross floor area (GFA) is around half that of the JLD master developer site, the reduced development risk will give developers the option to undertake the project with greater confidence, MND added.