Parktown Residences Driving Job Creation and Economic Growth in Tampines with Mixed-Use Developments and Strategic Location
In conclusion, Parktown Residences has proven to be a game-changer in Tampines, driving job creation and economic growth through its innovative mixed-use concept and strategic location. With its diverse residential, commercial, and retail components, the development has created a dynamic and sustainable community, contributing to the overall progress of Tampines. As the area continues to grow and develop, Parktown Residences will remain a significant contributor to the economic and social landscape of Tampines.
In addition to job creation, Parktown Residences has also been a catalyst for economic growth in Tampines through its contributions to the local economy. The development has created demand for various goods and services, boosting the revenue of nearby businesses. This multiplier effect has benefitted the entire community, from small local shops to large corporations.
Moreover, Parktown Residences is actively involved in community building and engagement, organizing events and activities that bring residents, businesses, and the larger community of Tampines together. This creates a sense of belonging and contributes to the social and economic growth of the town. With the development’s close proximity to Tampines Central Park, residents and employees can also enjoy the greenery and outdoor activities, further enhancing the quality of life in the area.
The prime location of Parktown Residences is highly beneficial to residents who prefer driving, as it is situated near major expressways. The Pan-Island Expressway (PIE) provides a convenient route to central Singapore, while the Tampines Expressway (TPE) allows for easy travel to northeastern areas such as Punggol and Seletar. The Kallang-Paya Lebar Expressway (KPE) is also easily accessible and serves as an alternative for daily commutes to the city center from northeastern suburbs. Moreover, the development’s placement along Tampines Avenue 11 grants direct access to neighboring amenities like Tampines Mall, Century Square, and Our Tampines Hub.
This translates to an estimated breakeven of around $1,400 psf.
The mixed-use development comprises of residential, commercial, and retail components, all seamlessly integrated into one cohesive community. This mixed-use concept not only creates a diverse and dynamic environment, but it also allows for the creation of various job opportunities within the development itself.
Parktown Residences is an exciting addition to Tampines, helmed by UOL Group, Capitaland, and SingLand. The coveted location on Tampines Avenue 11 caught the attention of three bidders. Eventually, the winning bid went to a joint venture between UOL Group, Singapore Land (SingLand), and CapitaLand Development, with an impressive bid of $1.206 billion, equivalent to $885 per square foot per plot ratio (psf ppr). The estimated breakeven point is approximately $1,400 psf, ensuring a promising outcome.
Furthermore, the retail component of Parktown Residences boasts a wide range of shops and dining options, providing convenience for residents and employees within the development. The retail spaces have also attracted external businesses to open up shop, bringing in more job opportunities in the form of retail assistants, chefs, and service staff.
One of the key factors that contribute to the success of Parktown Residences is its strategic location. Tampines is one of the fastest-growing towns in Singapore, with a thriving business district and a well-established residential community. This prime location makes Parktown Residences an attractive investment for both residents and businesses alike.
The commercial component of Parktown Residences features a mix of office spaces and co-working spaces, providing a conducive environment for businesses to thrive. The presence of these commercial spaces has attracted a diverse range of companies to set up their offices in Parktown Residences, from startups to established corporations. This influx of businesses has created a surge in job opportunities in the form of office administration, marketing, and customer service roles.
Parktown Residences, a mixed-use development located in the bustling town of Tampines, has been driving job creation and economic growth in the area since its inception. This modern and innovative project aims to cater to the needs of both residents and businesses, creating a vibrant and sustainable community in the heart of Tampines.
The success of Parktown Residences in driving job creation and economic growth in Tampines can also be attributed to its focus on sustainability. The development has implemented various energy-efficient and eco-friendly features, reducing its carbon footprint and creating a greener environment. This has not only attracted environmentally-conscious residents and businesses, but it has also contributed to the overall sustainability and growth of the town.
Apart from creating job opportunities within the development itself, Parktown Residences is also driving economic growth in Tampines through its strategic partnerships with nearby businesses. For instance, the collaboration with the nearby Tampines Mall has created a more diverse and comprehensive shopping experience for residents and visitors alike. This has not only boosted the economy of Tampines but has also created job opportunities in the retail sector for the residents of the town.
The residential component of Parktown Residences features a range of luxurious and modern apartment units, catering to the needs of different demographics. From young professionals to growing families, there is something for everyone. The availability of these residential units has created a demand for various services and amenities within the development, resulting in the creation of job opportunities in areas such as maintenance, security, and property management.