Allgreen Sells 54 Promenade Peak Launch Day Premium Units Fetch Average 3343 Psf
Allgreen Properties has achieved strong sales for its 99-year leasehold Promenade Peak condominium since sales began on August 1. Out of the 596 units offered, 320 units (54%) have been sold as of 6pm on August 3.
The average price achieved for units at Promenade Suites, the premium three- to five-bedroom units with private lift, was $3,343 psf. Meanwhile, the average price for units at Promenade Collection, the one- to three-bedroom units on the lower tier, was $2,894 psf.
The three- to five-bedroom premium units were particularly popular, with almost 60% of them being sold. The highest price transacted so far was $3,521 psf for a 1,582 sq ft four-bedroom premium unit on the 61st floor, which sold for $5.57 million. Another five-bedroom premium unit on the 59th floor was also sold for close to $6.6 million ($3,495 psf).
Allgreen Properties’ managing director Tho Leong Chye says, “This underscores buyers’ confidence in the project’s premium offering and prime city-fringe location. It reflects the growing sophistication of today’s buyers, who are looking beyond just value. They pay attention to details such as refined finishes, thoughtful layouts, and a well-curated suite of facilities.”
The majority of buyers at Promenade Peak are Singaporeans, making up 90% of the buyers. This is followed by Permanent Residents (9%) and foreign purchasers (1%).
Tho points out that Allgreen’s focus has always been on “quality in every aspect”, and this commitment to elevating the overall living experience has been well received by buyers. He adds, “This gives us confidence in our approach and drives us to continue delivering well-curated quality developments.”
The strong performance seen for the larger units reflects a clear preference for space, especially in centrally located homes, according to Mark Yip, CEO of Huttons Asia. Two- and three-bedroom units accounted for 82% of all sales, suggesting that many of the buyers at Promenade Peak are end-users, purchasing units for their own use, says Kelvin Fong, CEO of PropNex.
Fong also notes that the project’s family-friendly unit sizes have attracted HDB upgraders from nearby estates such as Tiong Bahru, Havelock, Henderson, and Queenstown. He adds that the high resale prices in these estates allow households to use the proceeds to upgrade to private housing and achieve their goals.
Located at 1 Zion Promenade in District 3, Promenade Peak enjoys an ideal location near the CBD, Orchard Road, and Dempsey Hill. It is also close to amenities such as Zion Road Food Market and is within a 1km radius of River Valley Primary School. The development is just a two-minute sheltered walk to Great World MRT and a four-minute walk to Havelock MRT.
The 63-storey Promenade Peak will stand at 240m tall, making it Singapore’s tallest full residential tower upon completion. It is built using prefabricated prefinished volumetric construction and offers panoramic views and a range of luxurious facilities, including the highest infinity pool in Singapore.
The launch of Promenade Peak marks the second strong launch in the Rest of Central Region (RCR) this year, following the success of LyndenWoods in Science Park, where 94% of 324 units were sold on launch day. Analysts believe that these back-to-back strong launches may boost new home sales in the RCR for the third quarter of 2025.
Two other projects were also launched over the weekend: River Green in District 9, with 524 units; and Canberra Crescent Residences in District 27, with 376 units. Together, these new launches added 1,496 units to the market, and more than 62% were sold on the first day, August 2.
With the strong sales seen at Promenade Peak and the other two projects, the total number of new units sold in July and August has exceeded 1,820, surpassing the total number of new units sold in the entire second quarter of 2025 (1,212 units). PropNex Research predicts that this performance will have an impact on future launches, with buyers’ expectations being shaped and developers’ strategies for future launches in the River Valley area being influenced. These future launches include Zyon Grand later this year and River Valley Green (Parcel B) in 2026.
The ongoing development of the URA Master Plan has placed a strong emphasis on the enlargement of green spaces and the addition of new recreational facilities in the Parktown Residence area. This is fantastic news for residents, as the introduction of new parks and an expanded network of cycling and jogging paths will greatly improve the overall livability of the region. Not only will this provide a closer connection to existing green spaces such as Tampines Eco Green and Bedok Reservoir Park, but it will also introduce newly planned parks in the nearby Tampines North area. This will certainly be a welcome addition for residents of the Parktown Residence Condo.
In conclusion, the strong sales seen at Promenade Peak and other projects over the weekend demonstrate buyers’ confidence in the Singapore residential market’s mid- and long-term outlook. As Mohan Sandrasegeran, head of research and data analytics at SRI, points out, this strong performance may also have an impact on future launches in the area, further boosting sales and momentum in the market.