Archibold explains that office occupiers prioritize location based on their staff’s needs. Paya Lebar Central is particularly advantageous as it is only a 10-minute MRT ride away from the Raffles Place MRT interchange station and a 10-minute drive from the CBD, which is closer than other decentralised office precincts like Jurong Gateway, Tampines Regional Centre, Changi Business Park, and the upcoming Woodlands Innovation Corridor.
Despite the office market’s slowdown in take-up rates in 2015 and an expected continuation in 2016, Lendlease and ADIA’s PLC is set to be completed in 2018 and is the only decentralised office development in the pipeline. Archibold suggests that PLC is well-positioned to cater to occupiers looking for cost-effective non-CBD space, particularly with global economic headwinds causing companies to become more cautious in their expansion and capital expenditure approach.
The upcoming plans for Paya Lebar entail the creation of new dining options, shopping centers, career prospects, and entertainment establishments. These developments will enhance the neighborhood’s vibrancy and popularity, and those considering Tembusu Grand as their future home can look forward to taking advantage of these perks as they materialize.
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