28 Jan '16, 4am

Australian developer @LendLeaseGroup is building a massive mixed project in Paya Lebar.

Australian developer @LendLeaseGroup is building a massive mixed project in Paya Lebar.

Artist’s impression of future developments in Paya Lebar Central.(Photo: URA) Property giant Lend Lease is set to enter Singapore’s residential market after receiving planning approval to develop a mixed-use development in Paya Lebar Central, which includes over 400 apartments, reported The Australian . The Urban Redevelopment Authority (URA) has granted provisional permission to a consortium comprising the Abu Dhabi Investment Authority (ADIA) and Lend Lease to develop the project. The developers had won the tender for the 99-year leasehold site with a bid of $1.67 billion. The project is expected to further expand Lend Lease’s presence in the city-state after building mostly shopping centres during its 40 years in Singapore. As the lead developer, Lend Lease holds a 30 percent stake in the consortium, while ADIA owns the remaining 70 percent. Aside from the residential c...

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