CapitaLand, a Singaporean multinational alternative asset management company, agreed to acquire JCube mall from CapitaLand Commercial Trust, a REIT, for $253m. JCube is located in Jurong Gateway, the commercial core of Jurong Lake District. JLD is envisioned by the Urban Redevelopment Authority to be Singapore's largest business district outside of the central business district, and a key anchor for the country’s economic gateway in the west.