CapitaLand acquires JCube for $340m
The transaction will be completed within the first quarter of 2022.
CapitaLand Development has entered into a sale and purchase agreement to acquire JCube for $340m on 24 January.
JCube is located in the commercial core of Jurong Lake District, Jurong Gateway. It was envisioned by the Urban Redevelopment Authority to be Singapore's largest business district outside of the central business district and key anchor for the country's economic gateway in the west. JCube enjoys good connectivity to the Jurong East MRT interchange station, which serves as the existing North-South and East-West lines and the upcoming Jurong Region Line. The mall is also next to the future Jurong integrated transport hub, which will comprise community and civic institutions and a bus interchange.
Upon completion of the acquisition, CapitaLand Retail Management will continue to operate JCube whilst it explores options to reposition or redevelop the mall in line with the gradual transformation of Jurong Lake District.