What’s the first thing that comes to your mind when we talk about District 14? The “Red Light District’? The messy industrial area? Or the annoying traffic jam during peak hour?
Whatever it is, District 14 is here to change. And it’s going to be a big change with these 4 events ongoing in sequence
- The completion of Paya Lebar Square in late 2014
- The start of addition and alteration (A&A) works on Singapore Post
- The demolition of landed factories next to Singapore Post
- The start of construction of Paya Lebar Quarter (PLQ)
Paya Lebar Square
One of its kind, Paya Lebar Square is a unique commercial development, featuring 545 units of Grade A commercial office. Located 1-min next to Paya Lebar MRT, connecting both East-West Line (EW) and Circle Line (CCL) and both Changi Airport and Town area. Paya Lebar Square have created a superb business location that attracts tenants, creating an occupancy rate of 90% occupied in last than 18 months since TOP.
As stated on Singapore Post website:
Singapore Post Limited (“SingPost”), a leading postal and eCommerce logistics provider in the Asia Pacific, today announced the development of Singapore’s first shopping mall that offers a complete suite of eCommerce logistics solutions. This development is aimed at creating opportunities for businesses in the changing retail landscape and catering to the evolving needs of consumers.
The new retail mall at Singapore Post Centre (SPC) will offer greater convenience, choices, and experiences to consumers by providing online e-merchants and offline brick-and-mortar shops all under one roof. Online shopping through e-merchants will include in-shop online ordering and flexibility in delivery and pickup timings.
Singapore Post AA work is targeted to complete this year end. With the completion, an increase in human traffic will be expected which in turn will boost the business.
Demolition of Landed Factories
The old got to make way for the new and that’s what happens to the old industrial site next to Singapore Post. With Master Plan in place, the vacated land will be used for developments comprises of biotech industries and other white-collar research industry.
Paya Lebar Quarter
Park Place Residences is the residential condominium of Paya Lebar Quarter, a landmark mixed development located right in the heart of Singapore’s newest lifestyle neighborhood. It is part of a transformation that will turn Paya Lebar into a new hip & cool happening place, fusing city style living with its own distinct east side ambiance. You can read more on Paya Lebar Quarter here.
All the above changes are set, for one thing, to increase the vibrancy and the future country’s economic expansion. Whether you’re are an investor for commercial office at Paya Lebar Square or for the residential units at Paya Lebar Quarter, you will definitely enjoy the high influx of tenants due to the activities happening around.
PS: Want to know what to invest in 2017 for District 14? Click here.