Paya Lebar is located in the east part of Singapore. The
Paya Lebar MRT is an interchange station for the East-West MRT and Circle MRT
lines. Singapore is divided into 28 districts and Paya Lebar is in District 14
which also comprise of neighbouring towns like Eunos, Geylang and Kembangan.
The town is in between Serangoon and Marine Parade and enjoys a rich vein of
road network with Paya Lebar Road, Sims Avenue and Geylang Road been the major
roads serving residents in the town.
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Information: - http://www.payalebarsq.com/
Views are mixed on the ambition to turn this part of
Singapore into a regional centre because Paya Lebar is a short distance from
Geylang which is known to be a red light district in Singapore. Man on the
street started to see change is coming when the government released 2 plots of
land to be amalgamated for public tender in October 2014. More significantly,
the plan is to have a multi-mixed development comprising commercial,
residential and retail to be constructed on this enlarge plot of land measuring
3.9 hectare in area. The land has a maximum gross floor area of 1.78 million
square feet. The opportunity to develop such a sizable project attracted
attention from local and overseas developers and conglomerates. By the close of
tender, 6 bidders put in their offers and the consortium of Land Lease and Abu
Dhabi Investment Authority was the highest bidder at $1,671,688,888 which
translate into $942.55 psf ppr.
Landlease is an international property developer and
infrastructure company with portfolio in Europe, UK, Australia, Asia including
Singapore. Founded in 1958, Landlease's headquarter is in Australia and is
listed on the Australian Securities Exchange. In Singapore, the company manages
shopping malls like 313@Somerset, JEM (Jurong East Mall).
This major development at Paya Lebar Central, known as Paya
Lebar Quarter on its website will be the biggest development by value that the
developer will undertake in Singapore. Work has already started on the 3 office
towers and is anticipated to complete in 2018. There will also be a retail mall
with more than 340,000 square feet offering shopping, dining and entertainment
choices to executives and professionals working around the development. In
addition, there will be 3 residential towers with a total of 429 residential
units. With a direct link to the Paya Lebar MRT, the development is primed to
be a place for work, live and play for professionals in Singapore.
This development will be officially launching soon. At
Propertyconnectx, we will provide the latest updates on this new launch. Do
stay tune for the site plan and floor plans at
http://propertyconnectx.com/listings/park-place-residences/
Article Source: http://EzineArticles.com/expert/Chia_S_T/1171590


