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While the upcoming High Speed Rail (HSR) terminus in Jurong East is expected to boost the area’s commercial property market, the occupiers are likely to be different from those in Singapore’s central business district (CBD).
Industry experts said, unlike in the downtown core area, more manufacturing firms could relocate there, especially companies that have factories in Iskandar or other businesses farther in Malaysia.
“Other than manufacturing, I think tourism and education businesses could also look at Jurong. Because for Jurong Regional Centre, there is also the leisure part which is the lake districts. There will be hotel elements,” said Cushman & Wakefield’s Research Director Christine Li, as cited in media reports.
Earlier, the government envisioned a total of 2,800 hotel rooms for the area, with the newly-opened Genting Hotel Jurong the first to come on-stream.
“There will also be an education hub across the border at Nusajaya, so that could also attract some related businesses in education,” she added.
Located about 600 metres from the Jurong East MRT interchange, the terminus lies adjacent to land parcels zoned for commercial projects. About 20 percent of the site will be allocated for the terminus, while the remaining 80 percent will comprise offices, retail space and possibly even residential blocks, the authorities revealed.
However, the terminus could be a bit far from the Jurong East MRT station, said Century 21 Singapore’s Chief Executive Officer Ku Swee Yong.
“The distance between the HSR station and the Jurong East interchange is expected to be around 600 metres, that is equivalent to be about 1.5 rounds round the stadium track. For people who are disabled, old folks, children or even people with luggage, that can be quite an inconvenience,” he told Channel NewsAsia.
“We would have expected this interchange to have a more seamless connection to the interchange so that there is convenience for those coming from Kuala Lumpur straight into the city centre, Orchard Road, or even to Changi Airport,” he added.
According to the government, their focusing first on the land acquisition process for the terminus, while the detailed plans for linking the Jurong East interchange and the upcoming rail lines—Cross Island Line and the Jurong Region Line—are still being deliberated.
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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