CapitaLand/Genting SP

CapitaLand/Genting SP: May be the biggest beneficiaries for Jurong Lake District plans. In the 2014 National Day Rally, PM Lee singled out Jurong Lake District (JLD) for development. Proposed new additions include: • A brand new Science Centre by 2020 • Build new and revamp existing parks, gardens and attractions • More HDB flats north of the lake near Chinese Gardens MRT • Conversion of industrial estate to residential estate when leases run out in 20-30 years’ time • Moving AYE southwards to make space for more residences beside the lake • Possible terminus of proposed Singapore-KL High Speed Rail (HSR) This may put the land parcels and existing developments around JLD under new spotlight. In particular, CapitaMalls Asia under CapitaLand operates three lifestyle malls (JCube, Westgate, IMM) near Jurong East MRT, which had become the new shopping go-to in the west. Already attracting massive crowds , they will likely be the biggest beneficiary of the residential and community development slated for JLD. Another stock to look to is Genting Singapore, which is building the first hotel in JLD and is slated to open in first half of 2015. The hotel is expected to benefit from the burgeoning commercial activities and upcoming medical facilities. In addition to the existing offices at International Business Park, iHub and JTC building, a significant number of government agencies, such as MND, AVA, BCA, WDA and MEWR are moving into new offices in Jurong Gateway. The much-anticipated Ng Teng Fong General Hospital is slated to open around the same time as the Genting’s new Jurong hotel. The street has 17 buys, 4 holds, 0 sell ratings on CapitaLand and 11 buys, 7 holds and 1 sell ratings on Genting SP.