Lakeside Towers seeks $350m in collective sale

Site could be redeveloped into up to 395 apartments next Jurong Lake Gardens.

A collective sale by tender has been launched for Lakeside Towers in the Jurong Lake District with a reserve price of $350m, according to JLL.

The sale has secured more than 80% owner support and closes on 1 October at 3 p.m.

The 14,236.1-square-metre (sq.m.) site comprises two 20-storey residential blocks with 144 units on a 99-year leasehold at 9G and 9H Yuan Ching Road. Completed in 1981, the property offers around 190 metres of unobstructed frontage along Jurong Lake Gardens.

Under the 2025 Master Plan, the site is zoned for residential use with a base gross plot ratio (GPR) of 2.1. However, the verified as-built gross floor area (GFA) is equivalent to a GPR of about 2.36.

Based on the minimum average unit size of 85 sq.m., the site could be redeveloped into up to 395 apartments.

The reserve price translates to a land rate of about $1,277 per square foot per plot ratio (psf ppr), inclusive of an estimated lease top-up premium but excluding a land betterment charge.

Including bonus GFA for balconies, the rate is about $1,225 psf ppr, inclusive of both the lease top-up premium and land betterment charge.

"Lakeside Towers represents a rare convergence of lakefront scarcity and strategic location within Singapore's emerging second central business district (CBD)," said Nicholas Ng, head of Land and Collective Sales, JLL Singapore.

The site is located within the planned second CBD and is close to Jurong Lake Gardens, JEM, Westgate, and the upcoming Jurong Lake District integrated development.

JLL said the site will also benefit from the Land Transport Authority's recently announced Cross Island Line Phase 3, which will include the future CR20 station at Jalan Terusan near Jurong Lake Gardens.

Expected to open in the late 2030s, the line will improve connectivity to employment hubs including Punggol Digital District and Changi Business Park, complementing existing access via Lakeside and Jurong East MRT stations.

The property is served by the Pan Island Expressway and Ayer Rajah Expressway, providing road links to the Central Business District, Changi Airport, and major industrial and commercial hubs.

Ng said the site's proximity to the Jurong Lake District, International Business Park, Jurong industrial estates, and Tuas Port is expected to support rental demand for private housing in the area.

Residents will have direct access to Jurong Lake Gardens and nearby retail destinations including JEM, Westgate, IMM, and Taman Jurong Shopping Centre. Several primary schools and the Canadian International School are also located nearby.