Singapore, 24 Jun 2023 Whether or not the Jurong Lake District can be successfully redeveloped into a vibrant, second central business district (CBD) would hinge on businesses' willingness to move there, given its distance from the main commercial centre, said real estate analysts.
This, in turn, would depend on the attractiveness of the rent there, as well as the ability of developers to play to the existing strengths of the area, such as its ready catchment of residents and talent pool, among other factors.
Mr Justin Quek, deputy chief executive officer of Orange Tee & Tie, said that distance from the airport — located at the other end of Singapore — “may be a consideration for some global headquarters”, too.
“There is still ample land subjected to further planning in this area, which provides flexibility for the government to re-examine any necessary changes of use along the way,” said Mr Quek of Orange Tee.
However, Mr Quek, along with other analysts, were also quick to reiterate that the HSR was but one part of the entire Jurong Lake District vision.
Mr Quek pointed out that even with the HSR currently scrapped, Jurong is already “successful today”.