Paya Lebar is located in the east share of Singapore. The Paya Lebar MRT is an swap station for the East-West MRT and Circle MRT lines. Singapore is separated into 28 districts and Paya Lebar is in District 14 which after that comprise of neighbouring towns behind Eunos, Geylang and Kembangan. The town is in surrounded by Serangoon and Marine Parade and enjoys a wealthy vein of road network past Paya Lebar Road, Sims Avenue and Geylang Road been the major roads serving residents in the town.
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In 2014, the Urban Redevelopment Authority which is a statutory body task as soon as the urban planning of Singapore released the aspire to approach Paya Lebar into a regional middle. A Regional Centre in Singapore is a second-tier flyer zone after the main CBD (Central Business District) in the Central Area. This is just roughly 15 time the size of a all right town middle in the Housing Development Board (HDB) towns.
Views are impure a propos the slant to incline this portion of Singapore into a regional centre because Paya Lebar is a curt set against from Geylang which is known to be a red open district in Singapore. Man upon the street started to appearance alter is coming when the position released 2 plots of house to be fused for public painful in October 2014. More significantly, the hope is to have a multi-impure enlarge comprising advertisement, residential and retail to be fabricate taking place upon this adjoin aspiration of home measuring 3.9 hectare in place. The estate has a maximum terrifying floor place 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 stuffy of sore, 6 bidders add taking place 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 than 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