The main tenants of JCube include Don Don Donki, a Japanese supermarket, Shaw's cinema and The Rink, an ice skating rink.

JCube ceased operation on 7 August this year and will be redeveloped into a 40-storey residential development, which is expected to be launched for sale later this year.

CapitaLand Development said in a statement on Tuesday (February 7) that it had received provisional permission from the Urban Redevelopment Authority to redevelop JCube into a shopping mall on the first and first floors of the new development, which is expected to be completed by 2027.

The new development will complement the government's plans to bring new homes, businesses, entertainment and amenities to the Jurong Lake District (JLD).

According to the Jurong Lake Development Plan, the 410-hectare Jurong Lake District will have 100,000 new jobs and 20,000 new residential units by 2040 to 2050.

CapitaLand noted that the last day of operation for Jubilee Place is August 6 and the mall will close at 10pm. The company is working closely with the tenants of Yu Bing Place to provide the necessary assistance to ensure a smooth handover of the mall.

The new residential development will be directly connected to the Jurong East Interchange, Westgate, and the IMM mall via the J Walk pedestrian walkway.

Jurong East Interchange currently serves the East-West and North-South lines and will also serve the Jurong Region Line and the Cross Island Line, which are both under construction. These four lines will connect residents of the new homes to other areas, including the Central Business District, Changi Airport, Jurong Innovation District and Tuas Port.

CapitaLand (Singapore) Chief Executive Officer Tan Yau Jin said the Jurong Lake District is fast becoming a model for smart and sustainable living in the country.

The company is confident that it can capitalise on the prime location of Jubilee Place to create quality homes where residents can enjoy retail, entertainment, healthcare, education, as well as sports and fitness facilities all within easy reach.

Jubilee Place was formerly known as the Jurong Entertainment Centre. The then CapitaMall Trust acquired Jurong Entertainment Centre in 2005 for $68 million. Jurong Entertainment Centre was subsequently redeveloped in May 2010 and reopened as Jubilee Place in April 2012.

CapitaLand Integrated Commercial Trust sold Jubilee Place to CapitaLand in January last year for $340 million. The current major tenants of Ice House include Don Don Donki, a Japanese supermarket, Shaw Cinemas and The Rink, an ice skating rink.