Paya Lebar Quarters(PLQ) was officially on Oct 24. The 4-hectare project costs $3.7 billion and is owned by Abu Dhabi’s sovereign fund and Australian developer Lendlease.
$3.7 billion mixed-use project in Paya Lebar
A mixed-use development with retail, office and residential components, PLQ takes Singapore’s urban planning to another stage. The proximity of Paya Lebar Quarters to the existing Central Business District (CBD) as well as the Changi airport could change the way businesses work and also shift the focus from the CBD to other parts of the island.
About 90% of the retail and office spaces have been leased or is in the process of being leased. The retail component, PLQ Mall, had its soft launch on Aug 30 and consists of about 200 shops spanning 6 floors. Anchor tenants include FairPrice Finest, Shaw Theatres and a Virgin Active gym. The commercial component, PLQ Workplace, includes 3 Grade A office towers and a flexible workplace concept called csuites. German multinational pharmaceutical and life sciences Bayer will occupy the space later this year.
See more: Neighborhood Guide: Paya Lebar
Only 1 unit left unsold at 429-unit Park Place Residences
Park Place Residences, the residential component of PLQ, consists of 429 one- to three-bedroom units across 3 tower blocks. Residents can access approximately 100,000 sq ft of public amenities such as green spaces and walking paths with ease. Sales of these 99-year leasehold residential units have been more than promising, with only 1 unit left unsold.
Units here were launched in 2 stages. In Phase 1 when half of the apartment units were launched, they were sold out within a day at average prices of $1,805 psf. In Phase 2, the median price was recorded at $1,938 psf. PLQ is connected to the Paya Lebar MRT station and boasts 3 pools as well as a trampoline park for kids. The project is also near to the heritage Tanjong Katong area with many eateries and lifestyle options.