You are here

URA launches tender for the second land parcel in Paya Lebar Central

PAYALEBAR32100.jpg
THE Urban Redevelopment Authority (URA) on Tuesday launched the second land parcel in Paya Lebar Central for sale by public tender. - PHOTO: URA

THE Urban Redevelopment Authority (URA) on Tuesday launched the second land parcel in Paya Lebar Central for sale by public tender.

The 3.9 hectare (ha) mixed-use site, which can generate about 165,000 sq m of gross floor area, is slated for office, retail and residential use.

URA said it will be a key development in the Paya Lebar Central, and build upon Paya Lebar Central's transformation into a major commercial centre on the city fringe.

The plot of land is in a precinct which has about 12 hectares (ha) of land for development and a total potential commercial floor space of about 500,000 sq m.

sentifi.com

Market voices on:

URA said the site at Paya Lebar Road / Sims Avenue next to Paya Lebar Interchange MRT station enjoys direct connection to both the Circle Line and East-West Line stations. It also has excellent frontage along Paya Lebar Road, Sims Avenue, Tanjong Katong Road and Geylang Road.

At least 90,000 sq m of the maximum permissible gross floor area will be set aside for offices; the remaining gross floor area can be for additional office, retail, entertainment, food & beverage (F&B) and residential use, and contribute to the attractiveness of the development as a destination for business and leisure, said the URA.

A tender period will last about 22 weeks, and close at noon on March 31, 2015.

The sale of this site by public tender follows that for a site at Paya Lebar Road / Eunos Road 8, which was launched for tender in late January 2011 for commercial use. It was successfully awarded to the highest tenderer in late April 2011.

Powered by GET.comGetCom