Paya Lebar is located in the east portion of Singapore. The Paya Lebar MRT is an every option station for the East-West MRT and Circle MRT lines. Singapore is separated into 28 districts and Paya Lebar is in District 14 which in addition to comprise of neighbouring towns following Eunos, Geylang and Kembangan. The town is in between Serangoon and Marine Parade and enjoys a copious vein of road network gone Paya Lebar Road, Sims Avenue and Geylang Road been the major roads serving residents in the town.
In 2014, the Urban Redevelopment Authority which is a statutory body task gone the urban planning of Singapore released the scheme to position of view Paya Lebar into a regional center. A Regional Centre in Singapore is a second-tier commercial zone after the main CBD (Central Business District) in the Central Area. This is nearly 15 times the size of a okay town center in the Housing Development Board (HDB) towns.
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Views are contaminated in credit to the endeavor to tilt this portion of Singapore into a regional centre because Paya Lebar is a unexpected disaffect from Geylang which is known to be a red fresh district in Singapore. Man on the subject of the street started to see regulate is coming as soon as the dealing out released 2 plots of house to be compound for public sore in October 2014. More significantly, the aspire is to have a multi-poisoned go to the front comprising advertisement, residential and retail to be construct up taking place for this swell direct of house measuring 3.9 hectare in place. The home has a maximum terrifying floor area of 1.78 million square feet. The opportunity to build such a sizable project attracted attention from local and overseas developers and conglomerates. By the heavy of sorrowful, 6 bidders add in the works their offers and the consortium of Land Lease and Abu Dhabi Investment Authority was the highest bidder at $1,671,688,888 which translate into $942.55 psf ppr.
Landlease is an international property developer and infrastructure company when portfolio in Europe, UK, Australia, Asia including Singapore. Founded in 1958, Landlease’s headquarter is in Australia and is listed upon the Australian Securities Exchange