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URA dispatches second land allocate Paya Lebar Central

Posted by Property Launch Invest on Friday, 26 December 2014 in Property News

The Urban Redevelopment Authority (URA) propelled an open delicate for a land package at the intersection of Payar Lebar and Sims Avenue – a blended utilization site comprising of office, retail and private employments. In conjunction with URA's decentralization system, the improvement of business groups outside the focal area will make occupation opportunities closer to homes, accordingly diminishing blockage and transportation time for organizations found outside the Central Business District (CBD).

Paya Lebar Central is expected to be a 'dynamic business focus' with pretty nearly 165,000 sqm of horrible floor territory (GFA), of which 90,000 sqm will be dispensed as office space and the remaining space would be accessible for different uses – "extra office, retail, stimulation, sustenance & drink (F&b) and private employments".

The land bundle comprises of a 99-year lease period and is arranged close to the Paya Lebar Interchange and MRT station, and also other promising new advancements in Paya Lebar - Paya Lebar Square, shopping center One KM and the Workforce Development Agency's new Lifelong Learning Institute.

The openness to the MRT station and closeness to the CBD has pulled in a huge level of designer investment. Desmond Sim, Research Head in CBRE Southeast Asia, remarked to Channel Newsasia, "It is a profoundly foreseen plot as it is yet an alternate venture in the legislature's plan to give a suitable option to the CBD business sector, helping occupiers oversee expenses and bring occupations closer to homes." The delicate period will be roughly 22 weeks, and will close on 31 March 2015.

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PROPERTY LAUNCHES & INVESTMENTS

Property Launches & Investments

URA dispatches second land allocate Paya Lebar Central

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