Results 1 to 11 of 11

Thread: Paya Lebar regional centre

  1. #1
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,531

    Default Paya Lebar regional centre



    SINGAPORE: A commercial site along Paya Lebar Road that is expected to be launched for sale later this year could set the tone for the development of the Paya Lebar regional centre. That is according to some property analysts, who also say that any developer keen on the site may have to cough up more than a billion dollars, just in land cost alone.

    In October, the Government is expected to release a 4-hectare commercial site next to the MRT station for sale. Some analysts estimate that the potential "Grade A" development could offer about one million square feet of net lettable space, with office space taking up about 50 to 60 per cent. About 440 residential units can also be built there.

    However, the site will not come cheap. "The land cost alone will be S$1 billion or even more, and that increases the risk to any single developer who wants to take a bite of this," said Mr Alan Cheong, Senior Director of Research & Consultancy for Savills Singapore. He believes that developers will come in as a consortium for this particular site.

    "This project itself, with more than 130,000 sq metres of gross floor area commercial space, together with Paya Lebar Central, will set a tone for this area," he added. "There is no character right now for Paya Lebar."

    Once a sleepy industrial estate, Paya Lebar was earmarked for development as a commercial hub outside the city centre under the 2008 Masterplan, as part of the government's decentralisation strategy. But some property-watchers say that the area -- with its mix of workshops and industrial premises -- seems to lack a core focus right now, compared to regional centres in Jurong and Tampines., and believe more can be done to attract more companies to locate here.

    Said Century 21 CEO Ku Swee Yong: "SingPost is obviously not sufficient now to bring in a lot more demand for office space, or fill up the industrial B1 space in the Paya Lebar area. But if, for example, we have a Government ministry that is willing to relocate there with about 70,000 sq ft of space - that could be a trigger, a catalyst that would bring other SMEs and service-providers to Paya Lebar Regional Centre."

    According to Savill, the average office rental rate at Paya Lebar is currently around $6.50 per square foot per month, compared to S$5.50 in Tampines, and S$7 to S$8 for some of the newer commercial projects in Jurong. Analysts add that Paya Lebar could potentially appeal to firms in the IT, telecom and multimedia industries.

    - CNA/xy

    http://www.channelnewsasia.com/news/...t/1165722.html

  2. #2
    Join Date
    Jun 2009
    Location
    Southbank
    Posts
    9,531

    Default


  3. #3
    Join Date
    May 2008
    Posts
    219

    Default

    "This project itself, with more than 130,000 sq metres of gross floor area commercial space, together with Paya Lebar Central, will set a tone for this area," he added. "There is no character right now for Paya Lebar."


    Interesting to see what the concept will be

  4. #4
    Join Date
    May 2012
    Posts
    179

    Default

    Quote Originally Posted by vboy View Post
    "This project itself, with more than 130,000 sq metres of gross floor area commercial space, together with Paya Lebar Central, will set a tone for this area," he added. "There is no character right now for Paya Lebar."


    Interesting to see what the concept will be
    I recalled that there were plans to make the vicinity a civic centre as well, to retain its heritage. Its development will have to be timed to support decentralization & to provide buffer as a secondary financial hub while old CBD gets renewed to be a place for "work, live, play" (closer to Hk style). Can see that commercial, banking, Islamic banking...... Your views too.

  5. #5
    Join Date
    Jan 2013
    Posts
    33

    Default

    Hope to see more MNCs and GLCs moving to the new development as part of the decentralized effort. More retail spaces like cinema, dining and chill out places too will be good to beef up the hype there. Wondering will there be hotel development too?

  6. #6
    Join Date
    May 2008
    Posts
    219

    Default ONE KM + Paya Lebar Square




  7. #7
    Join Date
    May 2008
    Posts
    219

    Default




  8. #8
    Join Date
    Feb 2013
    Posts
    443

    Default

    Geylang is a good buy.

    one end is CBD, the other end is Paya Lebar Regional Centre.

    Hope cheekon can be decentralised also. lol

  9. #9
    Join Date
    Jan 2013
    Posts
    312

    Default

    I suppose D15 will benefit too.

  10. #10
    Join Date
    Jan 2013
    Posts
    33

    Default

    Quote Originally Posted by vboy View Post


    Looking at the map, it seems like tanjong katong complex will be replaced by station plaza or galleria, not sure how is that possible?

  11. #11
    Join Date
    May 2012
    Posts
    179

    Default

    Quote Originally Posted by economist View Post
    I suppose D15 will benefit too.
    D15 coastal, waterfront location, food paradise stretch, plus emenities (Parkway, I12) already sufficient to bring the prices to premium level. It's upside should be from future MRT location not announced yet.

Similar Threads

  1. Paya Lebar Quarters (Next to Mrt)
    By payalebar in forum Marketplace
    Replies: 4
    -: 11-11-16, 00:14
  2. URA launches tender for the first sale site in Woodlands Regional Centre
    By Ringo33 in forum Singapore Private Condominium Property Discussion and News
    Replies: 16
    -: 18-12-13, 16:39
  3. Plans for Woodlands Regional Centre unveiled
    By dtrax in forum HDB, EC, commercial and industrial property discussion
    Replies: 25
    -: 27-02-13, 19:33
  4. Seletar Regional Centre
    By lifeline in forum North East
    Replies: 4
    -: 01-02-13, 12:56
  5. Marina Bay devt on track, Paya Lebar and Jurong regional centres in 10-20 years
    By mr funny in forum HDB, EC, commercial and industrial property discussion
    Replies: 0
    -: 04-03-07, 10:41

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •