The end development value of this project is estimated to be around SGD$3.2 billion. Gross floor area is said to be 1.8 million square feet while total retail space will be over 340,000 square feet. The construction of this project commenced in January 2016 and is expected to go on till 2018. Talk is that the project will be completed in phases. The commercial and retail components are said to be completed in the other half of 2018 while residential component will be completed in first half of 2019. Hence there are total of 7 buildings in this project and this site is a 99-year leasehold site. The plan for this site says that Towers 1 and 2 will be having 14 floors each while Tower 3 will have 13 floors. The residential towers will have residential units that range from 1BHK-3BHK residential units.
Thus this is a high value S$3.2 billion project that comprises of retail, commercial and residential space. Other facilities like cycling path, lockers, bicycle storage, showers and more will be available for tenants. This is done in order to help Singapore in its vision of a car-lite city. Paya Lebar Oquarter’s elevated pedestrian network will perfectly connect you to both its campus and beyond. Thus whether you want to explore the development campus or its rich neighborhood, it will be very easy to do so.
Park Place Residences will consist of two adjoining lots and the development is said to be worth
SGD$3.2 billion. The site region would be of 4 hectares. Site construction commenced in
January 2016 and is estimated to be completed in 2018. The development will be having seven
towers out of which three will be residential. The three residential towers would be consisting
of about 429 units. Tower 3 would be having 13 floors while Tower 1 and Tower 2 would be
having 14 floors. The project will be a prime retail destination which will be having retail
combination adapted towards mid-to- mid plus entertainment and retail choices. The
development faced height restrictions because of its closeness to Paya Lebar Airbase. Hence,
the developers decided to build up to 13 floors.
This project is developed on two joint plots which would be on the area spanning 3.9ha. Out of
the two plots, one plot will be having a retail mall and two office blocks while the other three
condo blocks and one more office building will be located on the other plot. The mall will be
spanning 340,000 sq ft retail mall which would be housing about 200 stores plus cinemas on
over seven floors. It is expected that about 30% of the tenants would be food and beverage
operators. The first two anchor tenants of this location are foodcourt Kopitiam who would be
spanning 15,000 sq ft and supermart NTUC FairPrice Finest who would be spanning 22,000 sqft.
The condominium is located at a very convenient location. Paya Lebar MRT Interchange is easily
accessible to reach areas like Circle Line and East-West Line. Also, a bus is readily available to fulfill transportation needs and has 20 different drop off locations. Other than this, there are 6 bus stops in the project’s vicinity. Major expressways and roads like CTE, PIE, KPE and ECP connect this condo to many locales. For those who have their own vehicles and would be
driving, Park Place Residences would be at the distance of approximately 15 minutes from
Central Expressway and Geylang Road.
Singapore Post Center will begin its operations in 2017. There is so much to do in this area in
your leisure time. For fulfilling shopping experiences, residents have malls like City Plaza, The One KM Mall and Tanjong Kantong Complex nearby. Tanjong Kantong Complex is a very
popular, historic and one of the oldest malls in Singapore. The business district is also located nearby and so are other needed leisure activities centers such as theatres, shops, sport
complexes, spas, live entertainment, dining facilities and much more. Park Plaza Residences is
located on Singapore’s eastern shore. There are many restaurants and hotels which the
residents can enjoy. Other than that, there are many unique vintage shops nearby which have
items that cannot be easily found at other stores.
The developers have set aside approximately 100,000 sq ft aside to be used as public space.
They will be incorporating a cycling path in this development. The developers Lendlease will be
introducing “end-of- the-trip facilities” which would feature parking spaces for personal mobility devices, lockers, shower facilities, changing room and bicycles. Reputed schools are also located nearby which would be ideal for residents having school-going children. These schools are Geylang Methodist Secondary School, Tangjong Katong Girl’s School and Geylang Methodist Primary School. These schools are renowned for their excellent academic services.
Park Place Residences offer more than fantastic services at affordable prices. The
development sought to bring tranquility along with luxury to the residents of Singapore.
10 REASONS TO CONSIDER PARK PLACE RESIDENCES:
1. Smart and modern layouts focusing on luxury and comfort
2. Location will be having all amenities close by
3. 3 towers of residential units and 3 towers of office complexes
4. A high-end retail complex and mall within
5. Well accessible to all parts of city via MRT, expressways and bus
6. A good choice for self-living or renting out
7. High rental yield specially for those working in future in Grade A offices
8. Renowned schools located nearby
9. Abundant entertainment options located nearby plus in the campus
10. Developed by globally renowned developer
Park Place Residences are a Mixed Development by Lendlease who are renowned global developer. They have a strong portfolio consisting of worldwide urban regeneration projects. Lendlease has a strong vision of building such fine places that would match the nuanced, diverse and private needs of those people who reside there. They make sure that their needs are maintained and fulfilled by curating an enduring link between places and individuals. Park Place Residences will be situated at Sims Revenue and Paya Lebar Road of Singapore. It is a 99-year Leasehold residential development.
SingHaiyi’s stake in this property is 90% and till date the sales progress is 10%. Gross development value is estimated to be S$41 million. Gross Floor Area is said to be approximately 31,875 square feet. The rate of apartments is estimated to be very attractive.