URA has finally released a much anticipated, big-ticket mixed development site in Paya Lebar Central. Nearly 55 per cent of the project’s maximum GFA of 164,794 sqm has to be for office use. The rest of the space can be for additional office, retail, entertainment, F&B and residential uses. Small strata office and retail units will not be in play for this project, as URA is limiting the number of strata lots to just five for the entire office component of at least 90,000 sqm GFA. This points to an average strata office size of under 200,000 sqft. For the retail and activity-generating uses, not more than three strata lots will be allowed. The residential component can comprise up to 440 individually strata titled units. Market watchers reckon that URA is not allowing small strata units so as to preserve the project’s image and quality given that the land parcel, which features two adjacent plots next to the Paya Lebar East-West Line and Circle Line MRT stations, will be the centrepiece of URA’s plans for developing a major commercial hub at the fringe of the city.... Continue Reading