The 4ha endeavor, which includes retail, residential and office elements, is 30 percent owned by Australian programmer Lendlease, together with Abu Dhabi’s autonomous wealth finance holding the remainder.
Mr Lawrence Wong, the Minister for National Development and Second Minister for Finance, stated in the launching ceremony:”Overall it is a huge opportunity for us to reimagine and remake Paya Lebar for future, even for another century”
“This job is a superb illustration of exactly what the Singapore Government was performing with its own urban planning,” he further added.
Park Place Residences is the home element. The condo has 429 units of one-to three-bedroom flats across three towers. Public amenities like green spaces and walking trails require up about 100,000 sq ft.
All but one of those 99-year leasehold units are offered within an two-part staggered revenue strategy.