Paya Lebar Central is rapidly becoming a sizeable commercial center with appealing public spaces that cater to companies that don’t need to be found within the CBD. There’s the present Singapore Post Centre, and exciting new developments including Paya Lebar Square, One KILOMETERS and the Lifelong Learning Institute. When completely grown, this key growth area will have about 500,000 sqm of commercial space for office, retail, and residential uses.
Paya Lebar Quarter Near To Paya Lebar Central
Quality public spaces, in the form of a public plaza next to the Paya Lebar MRT Interchange Station and a landscaped pedestrian mall along the Geylang Canal, will make the development an alluring destination that’s abuzz with tasks and individuals. The site is also found along a major park connector and cycling path along the Geylang River that’s being transformed under PUB’s Active, Clean and Beautiful Waters programme.
Located in the Eastern Region of Singapore, this ambitious development is set to become a major commercial centre. Originally a large swamp area, close to Kallang River. The area which is bordered by Hougang, Tampines, Bedok, and Pasir Ris could become a thriving business area.
A consortium made through the collaboration of Lend Lease and Abu Dhabi Investment Authority (ADIA), have obtained provisional permission from the Singapore planning authority to develop a project that combines retail estate, offices, and apartments. ADIA holds a 70 percent stake within the consortium development, whilst Lend Lease has a 30 per cent stake. The apartments are possibly set to be on the market within the next year. This development is the first time that the Australian based company will be involved in building homes in Singapore, despite a business presence of 4 years. Thesis one of Lend Lease’s most ambitious and largest mixed-urban regeneration developments.
According to market data on the 2015 fourth quarter, released by URA, the project is set to receive its Temporary Occupation Permit in 2018. According to Lend lease, the project will include apartments in 3 blocks and assist in The rejuvenation of an area that has, historically been plagued by squatters. Development is part of a project to move business away from the city centre and closer to home, reducing congestion within the city limits. This decentralization plan by the Singapore authorities also aims to reduce travel times.
The site comprises of four plots overall, one underground, one airspace and two land parcels. The site has a potential maximum development GFA of 164,794 sq m (approximately 1.77 million sq ft).The project will be serviced by direct transport routes from both the Paya Lebar East-West Line and Circle Line stations.