07-09-2016, 01:48 AM
Park Place Residences is a part of an upcoming mixed development launch called Paya Lebar Quarter which will be highly anticipated due to its prime city-fringed location. Jointly developed by Landlease and Abu Dhabi Investment Authority (ADIA), it is located at the heart of Paya Lebar Regional center occupying two plot of adjacent parcels and situated right next to Paya Lebar MRT station, along the junction between Paya Lebar Road and Sims Avenue.
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Paya Lebar Quarter consists of a total of 7 buildings that includes 3 grade A office towers with close to 1 million sqft of office space and amenities, a standalone retail mall with over 340,000 sqft of shopping, dining and entertainment options and 3 residential towers consisting 429 luxury apartments, positioned within a generous and lush public space.
Park Place Residences location is at the adjacent parcel fronting Paya Lebar Road, Sims Avenue and Geylang Road. The plot that is next to the MRT station will be designated for the office towers. It is schedule to be completed by 2018 and construction work had already commenced since January 2016.
Park Place Residences floor plan will consist of the popular 1 bedroom, as well as two, three and four bedroom. It is not certain at this point whether the developer will be offering any penthouse unit in this new launch.
Based on the winning bid of $1.67 billion and in comparison with the nearby transacted prices of Katong Regency, Park Place Residences PSF is expected to be launched between $1500psf to $1700psf, depending on the unit types.
Park Place Residences showflat will be located on the actual site and right next to Paya Lebar MRT. The showflat is expected to be ready in early year 2017.