Provide a project summary for Park Town Residences.

Parktown Residence is a significant new launch in the Tampines area, marking the first fully integrated development in Tampines North. Here are the key highlights of the project:

Location and Developers

Parktown Residence is situated on Tampines Street 62, developed by a joint venture between CapitaLand Development, UOL Group Limited, and Singapore Land Group Limited.

Site and Units

The development spans 50,700 square meters and offers 1,193 residential units, ranging from 1-bedroom + study to 5-bedroom premium units. The site was acquired for $1.21 billion, translating to $885 per square foot per plot ratio.

Integrated Amenities

This mega development is integrated with a retail mall, an MRT station (part of the Cross Island Line), a bus interchange, a hawker centre, and a community club, providing residents with a highly connected and convenient lifestyle.

Facilities

The project is divided into Park East and Park West, each offering a variety of facilities. These include multiple swimming pools, hydrotherapy pools, wellness pools, fitness areas, tennis courts, outdoor fitness zones, and numerous children’s play areas. There are also various lounges, function rooms, and entertainment spaces designed to cater to different needs.

Design and Layout

The residential component consists of 12 blocks, each ranging from six to 12 storeys. The units are designed with a family-focused approach, offering generous common space per unit. For example, the 3-bedroom premium + study units are relatively spacious, with sizes up to 1,163 square feet.

Tenure and Completion

Parktown Residence is a 99-year leasehold development, with an estimated completion date of June 2033.

Future Potential

The development is part of the larger transformation of Tampines North, which is expected to see significant growth with planned green spaces, pedestrian-friendly infrastructure, and a central hub. The area is anticipated to benefit from the upcoming Cross Island Line and other amenities, making it an attractive option for those looking at long-term potential.

Overall, Parktown Residence combines extensive amenities, convenient connectivity, and a promising future development landscape, making it a notable project in the Singapore real estate market.