In the URA’s 2008 Master Plan, it was announced that the area around Paya Lebar MRT would be designated a new commercial hub. Given the district’s proximity to the CBD – it’s only a 17-minute MRT ride or 15-minute drive to Raffles Place – it’s far more accessible compared to other decentralised commercial zones such as Jurong Gateway or Tampines Regional Centre. The area is also served by no less than four expressways – the ECP, KPE, MCE and PIE.
Almost 10 years on, the precinct appears to be shaping up nicely. New malls and mixed-use developments are popping up left, right and centre, giving the neighbourhood a more upmarket feel. These developments are also bringing new retail concepts, F&B offerings and other amenities to local residents.
The recently opened Paya Lebar Square is located right next to the MRT. It comprises an office block and three-storey retail podium with 95,000 sq. ft. of retail space. Anchored by Giant Supermarket, the mall also features popular fast food outlets such as MOS Burger and Jollibee. Both of these are a first for the area.
Later this year, SingPost Centre will open after a $150 million refurbishment. It will offer five floors and 175,000 sq. ft. of retail space. Tenants already on board include supermarket chain NTUC FairPrice, food court operator Kopitiam and cinema operator Golden Village. The latter – another first for the area – will be a welcome addition to the mall’s mix of retail shops and enrichment centres.
Paya Lebar Quarter (PLQ), a massive development encompassing residential, retail and office components, will open in stages in 2018. It features the largest retail floor space – a whopping 340,000 sq. ft. of it – housed in a standalone shopping mall. Anchor tenants include FairPrice Finest and Kopitiam.
The mall will also have a strong focus on F&B outlets, with both indoor and outdoor options. This will complement the lush landscaping being planned for the entire development. Think 6m-wide cycling paths and pedestrian walkways crisscrossing the development. These will be connected to five park connectors around the island. This greening initiative is a welcome move, considering the dearth of open parkland and green spaces in Paya Lebar.
Finally, a 10-minute walk from Paya Lebar MRT is the upcoming Wisma Geylang Serai. This is being built on the site of the former Malay Village. Set to open in 2018, the new civic centre will house a Malay heritage gallery, community centre and arts groups. It will also be the focal point of Hari Raya festivities from next year onwards. The annual Hari Raya bazaar, for example, will be held in and around the premises.
With so much to look forward to in this vibrant quarter, here are five freehold properties to consider snapping up.
Paya Lebar Residences
Smack dab in the middle of all the action is Paya Lebar Residences. Completed in 2002, this 117-unit development sits across the road from Paya Lebar MRT. Facilities are quite basic – there’s little else besides a swimming pool and BBQ pit. But what it lacks in facilities, it more than makes up for in location and convenience. And relatively affordability: median prices hover at the $1,105 psf mark. Current listings price a comfortably-sized (1,300 sq. ft.) 3BR unit at about $1.7 million.
Katong Regency sits atop One KM shopping mall, which houses more than 150 shops and F&B outlets. Being a new build – the condo was completed in 2015 – there are all sorts of up-to-the-minute facilities such as an infinity pool, jacuzzi enclave, sunken reading pavilions, meditation pavilion and kids’ play area. The 244 units fetch a median price of $1,597 psf. One-bedders go for around $1.2 million; two-bedders at $1.9 million; and three-bedders at $2.3 million.
A strikingly modern addition to the Joo Chiat skyline, Millage lies midway between Paya Lebar and Eunos MRTs. Surrounding this development that was completed in 2016 are a wealth of amenities and F&B options. Adjacent to Geylang Serai Market, it’s across the street from Joo Chiat Complex, which has ATMs and an NTUC FairPrice. The 70 units comprise mostly one- and two-bedders, which command a median price of $1,425 psf. At these prices, 1BRs go for just under $700,000, while 2BRs go for about $1.3 million.
Park 1 Suites
Located on the banks of the Geylang River, and with access to the Geylang Park Connector, Park 1 Suites is an ideal choice for cycling and/or jogging enthusiasts. A rooftop infinity pool offers aquatic workouts with a view. The newly-built (2017) development has just 26 units with a median price of $1,453 psf. One-bedders are on the market for just under $900,000, while three-bedders range between $1.3 and $1.5 million.
Source: JVA Venture
Though only a three-minute stroll from One KM, Sandy Eight is located in a quiet street off Tanjong Katong Road. Apart from the conveniences of One KM, the 20-unit condo is also within walking distance of popular F&B establishments along Guillemard Road (The Tuckshop) and Tanjong Katong Road (Punggol Nasi Lemak, Nan Xiang Chicken Rice). Currently under construction, list prices hover around the $1,600 to $1,700 psf mark. One bedders cost just under $900,000. Meanwhile, three-bedders are in the region of $1.6 to $1.8 million.