Jem Set to Become Third Largest Suburban Mall in S'pore

FF Fashion

Mar 28, 2012
CommercialGuru.com.sg
by Cheryl Tay


A new shopping mall in Jurong, whose retail area has already been 80 percent leased, is set to become the third largest suburban mall in Singapore when it opens in 2013.

Called Jem, the project is located near Jurong East MRT station. Once fully leased, it will house 260 retail tenants over six floors, including fashion brand H&M and a Cathay cinema, which will have daily late-night movie screenings.

Lend Lease, one of the largest developers in Australia, has injected S$1.4 billion into the project, the biggest development it has been involved in in Singapore.

Paul Walker, Project Development Director of Lend Lease, dismissed the rumours that the market is saturated in the area. In fact, he said that residents are still undersupplied in terms of retail space, as compared with other districts.

Walker declined to divulge the details of the rents, but noted they were “very competitive.”

Meanwhile, Danny Yeo, Group Managing Director of property consultancy firm Knight Frank, said estimated rents at the mall could average at around S$15 per sq ft, given its size and location.

With a gross floor area (GFA) of 818,000 sq ft, Jem is expected to serve approximately 300,000 people living within a 1.5 km radius.