Tag Archives: Paya lebar mrt

Singpost Centre mall to be managed by Capitaland

The mall in the new SingPost Centre – near Paya Lebar MRT station – spans five floors and has a net lettable area of about 175,000 sq ft. The SingPost Centre will house the new General Post Office and Philatelic Store and feature tenants, including supermart NTUC FairPrice, Golden Village cinemas and a Kopitiam foodcourt. SingPost said the 300 sq m General Post Office will feature traditional counter service and technology-enabled innovations such as POPStations and eSAM machines. There will also be a heritage corner where customers can learn about the postal service firm’s 150 years of history.

CapitaLand Mall Asia is the mall manager, signing its first third-party mall management contract in Singapore, boosting CapitaLand’s mall network here to 20. The long-term contract with Singapore Post will see CapitaLand managing the upcoming mall at the new SingPost Centre in Paya Lebar – slated to open in the second half of this year.

The SingPost Centre mall will augment its presence in eastern Singapore, where it currently owns and manages two malls – Tampines Mall and Bedok Mall.  It is also involved in a joint venture to develop the Jewel Changi Airport which is due to be ready in early 2019.

With CapitaLand as the retail mall manager, SingPost will be able to focus its attention on our core operations of postal services and e-commerce logistics. Under the property management agreement, CapitaLand will oversee the period leading up to the opening of the mall, its marketing and promotion as well as leasing and facilities management.

New Paya Lebar Condo @ Katong Fringe ready for sale

The Park Place Residences at Paya Lebar Quarter (PLQ), a 429-unit development which will be the third condo project to hit the market this year after The Clement Canopy in Clementi and Grandeur Park Residences in Tanah Merah, will open for a preview tomorrow.

The $3.2 billion PLQ – being jointly developed by Lendlease and Abu Dhabi Investment Authority – will feature a mall, three office towers and three residential blocks. Developer Lendlease yesterday said it is confident there will be a good take-up for the 99-year leasehold Paya Lebar project.

Lendlease plans to sell 171 apartments, or 40 per cent of the total units at Park Place Residences, as part of its first release. Park Place Residences will have 117 one-bedroom units, between 480 sq ft and 580 sq ft in size, with prices starting at $780,000. Meanwhile, the price for 234 two-bedroom apartments, between 650 sq ft and 900 sq ft, will start from $1 million. The remaining 78 three-bedroom units, between 1,080 sq ft and 1,350 sq ft, will be priced from $1.6 million.

The prices should work out to an average of about $1,560 psf to $1,610 psf. This would make Park Place Residences the priciest condo project out this year. Average prices at both The Clement Canopy and Grandeur Park Residences are below $1,400 psf. Park Place Residences will be launched for sale on March 25.

Concurrently the MOF has just announced a set of updated initiatives for property. It includes changes to SSD among others — http://www.mof.gov.sg/news-reader/articleid/1795/parentid/59/year/2017?category=Press%20Release

New Quarter in Paya Lebar by 2018

The massive upcoming mixed development in Paya Lebar Central will comprise seven buildings on a 3.9-hectare site. The S$3.2 billion project – Paya Lebar Quarter – will feature a retail mall, three office towers and three private residential blocks.

The developer Lendlease said the development will transform the Paya Lebar area into a “vibrant, pedestrian-friendly city precinct”. Over 200 stores and entertainment options across the seven-storey mall, with about 30 per cent of the tenants being food and beverage operators.

Paya Lebar Quarter has a total gross floor area of about 1.8 million sq ft. About 100,000 sq ft at the development have been set aside as public spaces, and will include cycling path and lush greenery.

The first two anchor tenants to sign up at Paya Lebar Quarter are supermart NTUC Fairprice Finest, which will occupy 22,000 sq ft of space, and foodcourt Kopitiam, which will take up 15,000 sq ft of space. The development will also have about one million sq ft of Grade A office space across three 13- to 14-storey blocks, which can house up to some 10,000 workers.

The office and retail components of the development are expected to be completed in the second half of 2018, while the residential component – the 429-unit Park Place Residences – will be completed only in the first half of 2019.

 

Paya Lebar project to be ready by 2018

A tender for the plum site at Paya Lebar Central, between the MRT station, Tanjong Katong Complex and City Plaza, was won by a consortium including Lend Lease and Abu Dhabi Investment Authority (ADIA). A mixed development including offices, retail space and 429 residential homes will be built on the site.

According to market rumours the residential component will be launched for sale in 2017. This is the first time the Australian Development group will be developing homes in Singapore. The project is given the approval to build 91,340sqm of office space and 43,740 sqm of retail space in addition to the 429 homes.  A maxium of 164,794 sqm of gross floor space is available for development. The TOP of the project is expected to be in 2018.