Park Place Residences | New Paya Lebar Central Mixed Development
215 units of the 429-unit
Phase 1 of Park Place Residences snapped up
Park Place Residences is a brand new residential apartment project in the heart of Paya Lebar, District 14. This residential component is, in fact part of a large mixed development site, Paya Lebar Quarter, which will be part of Singapore’s decentralization plans, bearing a vision to provide jobs closer to homes and reduce congestion and traveling times to and from the city centre.
The Paya Lebar Central site will occupy a land area of 4 hectares with a whopping end development value of approximately $3.2 billion. The entire project will spread across 2 adjacent parcels featuring 91,340 square metres (983,175 sq ft) gross floor area (GFA) of office space and 43,740 sq m (470,813 sq ft) of retail space other than the 429 apartment units in Park Place Residences Condo.
Paya Lebar Quarter will comprise a total 7 buildings with 3 Grade A office towers, 1 standalone retail mall and 3 residential towers. Construction has commenced since January 2016 and it is anticipated that the Park Place Residences TOP Date will be around the 3rd quarter of 2018.
The Lendlease-Adia consortium was the highest bidder for the well sought after 99-year leasehold site that closed on March 31, 2015. Its winning bid of $1.67 billion means that the break-even land cost of Park Place Residences psf is estimated at S$942.56 per square foot.
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- Unparalleled connectivity – Park Place Residences location is excellent. Sitting on the fringe of our city, it is extremely well connected by major roads and expressways such as Nicoll Highway, East Coast Parkway(ECP), Central Expressway(CTE), Pan-Island Expressway(PIE) and the Kallang Paya Lebar Expressway(KPE). Besides being highly accessible via vehicle, it is also a breeze to travel for public transport commuters with the Paya Lebar MRT stations right next to the site(with direct access) which serves the East-West Line and Circle Line and immediate access to 6 bus stops around the development with over 20 bus routes. Travelling to town and the Central Business District(CBD) has never been so effortless
- Abundance of amenities – Dwellers of Park Place Residences are in for a treat when it comes to convenience in daily needs. Residents will be pampered by the retail mall which is right at the door step with 340,000 square feet of shopping, dining and entertainment options. On top of that, there are other nearby malls such as Parkway parade, Tanjong Katong Complex, Joo Chiat Complex, City Plaza, Paya Lebar Square Singapore Post Centre and the new One KM Mall.
- Reputable Educational Institutions – Kong Hwa School, Geylang Methodist School(Primary), Geylang Methodist School(Secondary), Machperson Primary School, Macpherson Secondary chool, Tanjong Katong Secondary School, Tanjong Katong Girls’ School, Broadrick Secondary School, Chung Cheng High School(Main), Canossa Convent Primary School, Manjusri Secondary School, Eunos Primary School, Maha Bodhi School, Tanjong Katong Primary School, Dunman High School, Cedar Girls Secondary School are all within close proximity to Park Place Residences Singapore.
- Renowned International Developer – The developer Lendlease is an integrated property and infrastructure group that has operated in Singapore since 1973. Its capabilities span the entire property spectrum – development, investment management, project management and construction, and asset and property management. They are not new in the international developing scene with a strong track record of urban regeneration projects around the world. With a managing portfolio of shopping malls in Singapore, including Parkway Parade, [email protected] and JEM @ Jurong East, Park Place Residences LendLease being their largest mixed-use urban regeneration projects, is anticipated to be a another success in the making.
- Practical Layouts – All units will be compact and functional. In this way, it will serve the needs of all home stayers and tenants yet maintaining the Park Place Residences Price to be affordable to consumers.[ps2id id=’signup’ target=”/]