Introduction about Park Place Residences @ Paya Lebar Quarter
Park Place Residences is a brand new residential apartment project in the heart of Paya Lebar, District 14. This residential component is actually part of a sizable mixed development site, Paya Lebar Quarter, that will be part of Singapore’s decentralisation plans, bearing a vision to provide jobs closer to houses, and reduce congestion and travelling times to and from the city centre.
What’s In For Park Place Condo?
The Paya Lebar Central site will reside in a land area of 4 hectares with a whopping end development value of approximately $3.2 billion.
Paya Lebar Quarter will include a complete 7 buildings with 3 residential towers, 1 standalone retail mall and 3 Grade An office towers.
Who’s The Developer?
The Lendlease-Adia consortium was the highest bidder for the well sought after 99 -year leasehold site that closed on March 31, 2015. Its successful bid of $1.67 billion means that the break-even acreage price of Park Place Residences psf is estimated at S$942.56 per square foot. You can visit Park Place Condo Site here.
Why Park Place Residences?
- Unparalleled connectivity – Park Place Residences location is superb. Besides being highly accessible via vehicle, it’s also a wind 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 instant access to 6 bus stops round the development with over 20 bus routes. Travelling to town and the Central Business District(CBD) has never been so effortless!
- Wealth of amenities – Residences of Park Place Residences are in for a treat when it comes to convenience in day-to-day needs. Residents will probably be pampered by the retail mall that is not left at the door step with 340,000 square feet of shopping, entertainment dining options. On top of that, there are other nearby malls such as Paya Lebar Square Singapore Post Centre, Tanjong Katong Complex, Joo Chiat Complex, City Plaza, Parkway parade and the brand new One KM Mall.
- Famous International Developer – The developer Lendlease is an incorporated property and infrastructure group which has managed in Singapore since 1973. Its capabilities span the entire property spectrum – development, investment management, project management and building, and property and asset management. They’re not new in the international developing scene with a powerful track record of urban regeneration projects all over the world. With a handling portfolio of shopping malls in Singapore, including Parkway Parade, 313@Somerset and JEM @ Jurong East, Park Place Residences LendLease being their largest mixed-use urban regeneration projects, is expected to be a another success in the making.
- Practical Layouts – Although Park Place Residences Floor plan is in yet, it’s expected that all units will probably be functional and compact. In this way, it will serve the needs of all residence stayers and tenants yet keeping the Park Place Residences Price to be affordable to consumers.