>

>

CICT completes sale of JCube to CapitaLand subsidiary for $340 mil

By Atiqah Mokhtar

/ EdgeProp Singapore |

March 11, 2022 10:09 AM SGT

CICT has completed the disposal of JCube to CapitaLand Group for $340 million (Photo: CapitaLand)

SINGAPORE (EDGEPROP) - The manager of CapitaLand Integrated Commercial Trust (CICT) has, on March 10, announced the closure of its $340 million disposal of JCube, a mall located in Jurong Gateway, to CapitaLand Group.

On Jan 24, CICT had announced that it entered into a sale and purchase agreement (SPA) with Tanglin RE Holdings for the sale of the property. Tanglin RE Holdings is an indirect subsidiary of CapitaLand.

JCube has a total of five storeys, with three basement levels and a roof garden. It has a total net lettable area of 210,038 sq ft with a 99-year leasehold with effect from March 1, 1991. As at Dec 31, 2021, the mall, which was developed by CICT, had a committed occupancy of 95.5%

JLL acted as advisor to CICT on the deal. “Singapore retail is a tightly held sector and JCube provides an investor immediate income and longer-term opportunities to ride on the expansion growth plans of the wider Jurong Lake District,” says Heather Liew, senior director, capital markets, Singapore, at JLL.

Ting Lim, JLL's head of capital markets, Singapore, adds that the Singapore commercial investment market continues to draw strong interest from global institutional investors to major domestic developers. (Find Singapore commercial properties with our commercial directory)

“We are seeing more competition and demand in the suburban retail market over the last 18 months and this will continue in 2022 and beyond,” Lim says.

Check out the latest listings near JCube

Tags:

JCube CapitaLand Integrated Commercial Trust CapitaLand Group Jurong

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Emerald of Katong hits 99% sales at launch, averaging $2,621 psf

2

Kingsford sells 76% of Chuan Park units at an average price of $2,579 psf

3

Is it a Good Deal?: $1.03 million for a four-room HDB flat in District 10

4

Sim Lian Group’s Emerald of Katong: Will it be another top-seller?

5

CDL sells 20% of Union Square Residences at an average price of $3,200 psf

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00