It is a brand-new building property by UOL the Group, Capital in Order, and SingLand. For the Tampines Street 11 property, three bids in all were submitted. At $1.206 billion, or $885 to square inch per plot ratio (psf ppr), a consortium including UOL the business, Singapore Group (SingLand), and CapitaLand Investment placed the highest and best bid.
The 99-year lease on Parktown Residences Tampines Avenue 11 encompasses 545,314 square feet. The Parktown Residences land has been set aside to create a multi-use development that will feature residential and commercial buildings connected to a public club, bus stop, and hawker centre. UOL and SingLand will divide the remaining fifty per cent of the collaborative venture’s shares.
With 50% of it owned by the business.
According to a press release from the collaboration’s operators on June 27, Parktown Houses is set to expand by adding approximately 1,190 new apartments, along with commercial space and collaborative services, to meet the growing way of life needs of Tampines North’s resident community.
The 618-unit Tenet’s, which launched in December, and the Tampines Avenue 62 location, which is now up for tender, are two upscale condominium sites that are close to the Parktown Residences Tampines Avenue 11 Avenue mixed-use development plot.
Parktown Residences’ impending construction will provide the much-needed fresh supply of mass-market homes that the Outer Central Area’s homeowners have been waiting for. Many owner-occupants and HDB purchasers who upgrade ought to discover the Parktown Houses appealed to converge. Furthermore, the development project will be linked to the future Tampines North train stations of the Crossing Island Line (CRL).
Parktown Residences Ideally Situated Close to Tampines
the soon-to-be interconnected condominium skyscraper Parktown Houses is a notable landmark in the bustling Tampines North district. It is anticipated that this project, which is being built by the strong consortium of UOL the business, CapitaLand, and Singapore Land (SingLand), would fundamentally alter District 18’s urban environment. This innovative development makes use of the community’s prime position near major highways and an expanding public transit network to provide residents with constant connectivity. The proximity of Parktown Apartments to the Tampines the north MRT Location is its finest feature, so expect to become a major hub for the Connecting Islands Line (CRL) shortly. The rail station will connect residents to well-known locations for business and enjoyment by providing convenient journeys to Changi Airport, Jurong Lake region, and the city centre. More connections inside the estate are made possible by the bus interchange, and transportation will be easier thanks to the neighbouring Downtown Lines terminus.