Lendlease unveils plans for Paya Lebar Quarter Mixed Development
Located in the heart of the URA’s urban regeneration masterplan for Paya Lebar, Paya Lebar Quarter will be the landmark development on the 3.9-hectare site.
In April 2015, URA awarded the land parcel to a consortium comprising Lendlease and sovereign wealth fund Abu Dhabi Investment Authority for $1.67 billion ($942.55 psf).
On 17th October 2016, Lendlease unveiled detailed plans for the S$3.2 billion project – Paya Lebar Quarter – which will comprise of three world class office towers, three premium residential towers and a shopping mall.
The stunning development is located next to Paya Lebar MRT interchange (East-West MRT Line and Circle MRT LIne).
The 99-year leasehold mixed-use development will comprise a total of seven buildings, including three Grade-A office towers with a built-up area of close to one million sq ft, a 340,000 sq ft shopping mall, and a 429-unit residential component called Park Place Residences.
The seven-storey shopping mall will consist of over 200 stores and entertainment options. The first two anchor tenants to sign up at Paya Lebar Quarter are supermart NTUC Fairprice Finest and foodcourt Kopitiam.
Existing height restrictions due to its proximity to Paya Lebar Airbase means the buildings will only be 13 to 14 storeys tall, said Richard Paine, Managing Director of Paya Lebar Quarter.
He noted that Park Place Residences, which contains one- to three-bedroom units, will be launched in the first half of 2017.
Paya Lebar Quarter is expected to be fully completed by the first half of 2019.
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