History of Paya Lebar
Paya Lebar is located in the eastern part of Singapore. At one time, it was a large swampy area and there were also some pig and poultry farms in the vicinity.
In 1955, Paya Lebar Airport opened in the area. However, following the opening of the much bigger Changi Airport in 1981, the airport and runway at Paya Lebar were converted for military use. Soon after, schools and factories sprung up in the area.
What’s in it?
Under the 2008 URA draft master plan, Paya Lebar Central was identified as one of the commercial hubs to be developed outside the city centre.
Much development has taken place in the last decade to transform the area into a vibrant commercial and lifestyle centre, including the opening of Paya Lebar Square in 2015 and SingPost Centre two years later.
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In the next 10 years
According to the URA master plan, the area next to Paya Lebar MRT interchange will be transformed into a vibrant commercial hub with office and retail developments.
Residents can look forward to Paya Lebar Quarter (PLQ), a $3.2 billion urban regeneration project in Paya Lebar Central (PLC) that will comprise Grade-A offices, a shopping mall and a high-end condominium called Park Place Residences.
To be completed by the first half of 2019, PLQ will also contain about 100,000 sq ft of green spaces and a cycling path.
Future developments will be integrated with the scenic Geylang River, bringing shops and restaurants to the riverfront. Part of PLQ will also be located next to a reconstructed stretch of the Geylang River, bringing more buzz to the area.
Pedestrians will find it easier to get around PLC as more covered walkways, underground walkways and overhead bridges will be built to enhance connectivity.
Given the unique Malay heritage of nearby Geylang, more community spaces will be built to hold festive activities such as the popular annual Hari Raya bazaar where stalls sell a variety of homemade goodies and hipster food. This will further enhance the area’s local character.
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Paya Lebar has emerged as a hotspot for property buyers and investors. The area’s proximity to the city centre and its status as a regional hub are just some of its key selling points. Those looking at buying a new home in the area will see that prices are now averaging around $2,000 psf.
Buyers and investors should act now to secure a new home here. As the area develops further and becomes busier, we expect new launch prices to increase.
