Singapore has seen some development in the businesses over the years. The area that is currently being developed is the Paya Lebar Quarter. This area was leased to the Abu Dhabi Investment Authority and this group is looking to expand the area and make it profitable for businesses and residential use.
|Project Name||Park Place Residences at PLQ|
|Developer||Developed by Lendlease
Developer: Milano Central Pte Ltd, Roma Central Pte Ltd, Verona Central Pte Ltd
|Correspondence Address||60 Anson Road #17-01, Mapletree Anson, Singapore 079914|
|Location||2, 6, 8 Paya Lebar Road, Singapore 409053 / 409055 / 409056|
|Tenure||Leasehold tenure of 99 years commencing from 29 June 2015|
|No. of Units||429 units|
|Expected TOP Date||31 December 2020|
|Expected Legal Completion Date||31 December 2023|
|Unit Type||Est. Unit Size (sqft)||% of No. of units|
|1 Bedroom||500 – 600||27%|
|2 Bedroom||650 to 900||55%|
|3 Bedroom||1,050 – 1,350||18%|
Park Place Residence Paya Lebar MRT
The developer is looking to add a number of condos to the Paya Lebar Quarter area. They are looking to turn this area into a centre for business as well. This area is set to become one of the main commercial centers in all of Singapore. When developers come in and add work and a number of store people will want to live in this area. There will be an increased demand for residential housing as well.
Park Place Residences Condo
Right now the investment group from Abu Dhabi has gotten permission to put together a number of projects and office space. They are also allowed to put up to 429 flats for residential use in addition to the business centers that are going to be added. The apartments are being developed and they will be ready for sale soon. The project is projected to be finished as early as 2018. The group is looking to get a Temporary Occupant Permit at this time. This will allow them to sell the flats to people in this area. There are expected to be three towers in which the flats will be available in. There will also be some space for retail stores and other businesses in these towers. The lease will run for a period of 99 years.
Park Place Residences Condo Lend Lease
Singapore has seen a lot of development in the past decade or so. The Paya Lebar Quarter is set to become another big development that will continue to attract businesses, residents, and tourists to come and visit this area.