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.