CapitaLand Development (CLD) is buying the JCube shopping centre in the west of Singapore for S$340m.

Capitaland Development said the current mall was located next to the future Jurong integrated transport hub, which would comprise community and civic institutions and a bus interchange.

Upon completion of the acquisition, expected in the current quarter, CLD would evaluate options to reposition or redevelop the mall in line with gradual transformation of the Jurong Lake District.

CapitaLand Retail Management, a subsidiary of CapitaLand Investment, will continue to operate JCube.

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