Park Place Residences nearly sold out; just 3 units available

Preview of Paya Lebar Quarter's new mall will commence on Aug 30, with a grand opening set for Oct 24

Sat, Aug 17, 2019

PARK Place Residences - the residential component of the new Paya Lebar Quarter (PLQ) mixed-use development - is nearly sold out, with just three of the 429 units still available.

Lendlease, the developer of the S$3.6 billion, four-hectare PLQ, gave this update on Thursday, ahead of the preview of the project's mall that will commence on Aug 30. The grand opening is set for Oct 24.

Park Place Residences is Lendlease's maiden residential property development in Singapore. The 99-year leasehold condo has a mix of one- to three-bedroom units.

The three Grade A office towers and the mall are 90 per cent leased or under final negotiations, Lendlease said in a news release. The office towers are home to 18 multinational corporations and top Singapore brands, among them CBRE, JLL, PropertyGuru, NTUC Income, Great Eastern, the Intellectual Property Office of Singapore, Bayer and Virgin Active's first fitness club in the eastern part of the country.

Lendlease has also launched its flexible workplace solution at PLQ, called csuites. The company said it offers clients the flexibility of shorter leases, among other benefits.

As for the mall, there are more than 200 shops that are ready for business. The anchor tenants are Shaw Theatres, FairPrice Finest and KopiTime, a new thematic food court by Kopitiam.

Lendlease said that PLQ is on track to be "one of the most sustainable precincts" in Singapore, with all seven buildings having received the Building and Construction Authority's (B`CA) Green Mark Platinum certification. The three office towers are the first commercial development in Singapore to register for the WELL Core and Shell certification, which is the world's first building standard focused exclusively on increasing the well-being and productivity of occupants.

Meanwhile, csuites is on track to be the first flexible workplace product to achieve the BCA Green Mark Healthier Workplaces certification.

Tony Lombardo, the chief executive officer (Asia) of Lendlease, said that the company is proud to be contributing to the Urban Redevelopment Authority's vision of the transformation of Paya Lebar.

"PLQ is a great showcase of Lendlease's core expertise in urban regeneration and placemaking by combining quality retail, entertainment and lifestyle options with community-centric spaces that resonate with the rich heritage and culture of the area," he said.