Parktown Houses is a brand-new construction project by UOL the Group, Capitaland, and SingLand in the centre of Tampines. Three offers in all were received for the Tampines Avenue 11 site. The best bid of $1.206 billion, or $885 to square inch per plot ratio (psf ppr), was made by a group of UOL Company, Singapore Group (SingLand), and CapitaLand Investment.
545,314 square feet comprise the 99-year leased site for Parktown Residences Tampines Avenue 11. The property at Parktown Residences is designated for a multi-use project that will include residential as well as commercial structures connected to a hawker centring, public club, and bus connection. UOL and SingLand are splitting the extra 50% of the joint venture’s equity, with the company owning 50% of it.
The collaboration’s operators said in the press release issued on June 27 that Parktown Houses’ planned expansion will include about 1,190 additional apartments in addition to retail space and communal amenities intended to satisfy the lifestyle demands of Tampines North’s expanding resident community.
The Parktown Residences Tampines Avenue 11 mixed-use development plot is located near two premium condominium sites: the 618-unit Tenet, which opened in December, and the Tampines Street 62 location, which is presently up for tender.
The pent-up need for homeowners in the Outer Central Area will be satisfied by the essential fresh availability of mass-market dwellings brought about by Parktown Residences’ upcoming building. An abundance of owner-occupants and HDB users who upgrade should find the converged Parktown Houses appealing. Additionally, the construction endeavour will be connected to the Crossing Island Line’s (CRL) upcoming Tampines North MRT stations.
Parktown Residences – Conveniently Located Near Tampines
In the vibrant Tampines North neighbourhood, the soon-to-be integrated condominium building Parktown Residences stands out as a significant structure. The development, which is being constructed by the formidable team of UOL Company, CapitaLand, and Singapore Land (SingLand), is expected to completely transform urban life in District 18. To give inhabitants continuous connection, this creative construction takes use of its ideal location close to important motorways and a growing public transportation system. The best feature of Parktown Apartments is how close it is to the Tampines Northern MRT Location, which will soon be an important Crossing Islands Line (CRL) hub. With easy transportation to Changi Airport, Jurong Lake the district, and the city centre, the train station will connect locals to popular places for business and pleasure. The bus interchange provides more connection inside the estate, and the nearby Downtown Line terminal will make commuting easier.