First Queenstown apartment in 7 years, Penrith begins from S$2,437 psf

Personal condos in Queenstown have been few and much between. In actual fact, the final apartment tasks within the space have been Margaret Ville with 309 models and Stirling Residences with 1,259 models, each launched again in 2018. By 2021 and 2022, these developments have been utterly offered out, leaving patrons ready for the following alternative to personal a house on this mature and extremely sought-after city.

As the primary main launch in Queenstown in seven years, Penrith is attracting sturdy curiosity, not just for its city-fringe location but additionally for its considerate design, family-friendly unit combine, and intensive amenities.

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Venture overview

Penrith is a 99-year leasehold apartment located alongside Margaret Drive, one of the fascinating pockets of Queenstown. This mission stands on a 102,498 sq. foot web site and can comprise 462 models unfold throughout two 40-storey towers.

The general public preview begins on October 3, 2025, whereas the official launch is scheduled for October 18, 2025. The event is a joint effort by Hong Leong Holdings, Hong Realty, and GuocoLand.

Hong Leong Holdings has a strong monitor document in Singapore’s residential market, with latest launches similar to Penrose (2020), Springleaf Residence (2025), and Lentor Central Residences (2025). That is additionally not the group’s first mission in Queenstown. Again in 2014, along with its companions, it launched Commonwealth Towers, an 845-unit apartment positioned subsequent to Queenstown MRT. Models there have been first launched at round S$1,639 psf, and costs have since appreciated steadily.

As for Penrith, the positioning was acquired in August 2024 by means of the Authorities Land Gross sales (GLS) programme for S$497 million, or S$1,154 psf per plot ratio (ppr). With its sturdy growth staff and established monitor document, Penrith is about to supply a stability of recent design, high quality finishes, and long-term worth for patrons.

Unit combine and pricing

Penrith presents a fastidiously thought of mixture of 2- to 4-bedroom models, ranging in dimension from 614 sq. toes to 1,281 sq. toes.

In contrast to many more recent launches, Penrith does not embrace 1-bedroom models. This deliberate alternative factors to its concentrate on households, HDB upgraders, and owner-occupiers who prioritise habitable area over compact models.

You’ll additionally discover a robust emphasis on 2-bedroom models, which have grown in reputation lately. These houses are now not restricted to {couples} or small households. More and more, even singles are selecting two-bedders for his or her versatility, utilizing the additional room as a examine, passion area, or visitor room.

Should you’re somebody who values bigger areas, the 3- and 4-bedroom models present extra flexibility for multi-generational residing or rising households. Excessive-floor models may even take pleasure in sweeping views of town skyline and surrounding greenery, which provides to the attraction.

The models include trendy fittings and sensible residence options similar to digital locksets, sensible lighting, air-con controls, and expandable residence automation choices by way of Z-Wave know-how.

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Location highlights

Penrith is positioned alongside Margaret Drive in Queenstown, a city-fringe space that mixes good accessibility with the familiarity of a longtime neighbourhood.

Connectivity

The event is a few four-minute stroll to Queenstown MRT station on the East-West Line. For many who drive, there may be direct entry to the AYE and CTE, which makes it potential to achieve Orchard Street or the CBD in roughly 10 to fifteen minutes. A sheltered walkway additionally connects Penrith to the Alexandra Park Connector, linking residents to close by inexperienced areas.

Colleges close by

Households with school-going youngsters will discover a number of choices shut by. Queenstown Main Faculty is instantly subsequent to the event, whereas New City Main, Queensway Secondary, Queenstown Secondary, and Crescent Ladies’ Faculty are inside the neighborhood. Preschools similar to PCF Sparkletots, E-Bridge, and My First Skool are additionally positioned a brief drive away.

Retail and life-style

Day-to-day facilities and eating choices are accessible inside the space. These embrace Margaret Drive Hawker Centre, IKEA Alexandra, Anchorpoint, Alexandra Central, Dawson Place, Queensway Buying Centre, and Mei Ling Market. For broader retail and leisure decisions, Orchard Street and Dempsey Hill are inside a brief drive.

Recreation

The event is located beside the Alexandra Canal Linear Park, a part of the Park Connector Community. This route gives connections to locations similar to River Valley, Robertson Quay, Clarke Quay, and Marina Bay Sands, providing leisure and leisure choices past the speedy neighbourhood.

Total, Penrith’s location gives a mixture of transport connectivity, education choices, on a regular basis facilities, and entry to outside areas, whereas being set inside a mature residential property.

Amenities and options

Penrith is designed with households and neighborhood residing in thoughts. Throughout its two towers and landscaped grounds, you’ll discover quite a lot of considerate amenities:

Penrith will probably be made up of two 40-storey towers positioned on an elongated plot of land, with the primary entrance set alongside Margaret Drive. Residents will arrive by means of a devoted drop-off space that results in a clubhouse providing a health club and performance rooms, whereas a two-storey clubhouse provides additional communal areas. 

An early childhood growth centre can also be constructed into the event, full with its personal drop-off level for fogeys. For recreation, the mission encompasses a 50-metre swimming pool, a youngsters’s pool, and a full-sized tennis court docket, which is much less widespread in newer launches as we speak. 

Every tower may even embrace a roof backyard on the fortieth storey, providing a variety of communal amenities. Block 72 will function areas such because the Juniper Lounge, Hammock Deck, Horizon Terrace, Stargazing Deck, and a Sky Eating Terrace with BBQ. Block 70 will present an Out of doors Studying Lounge, Yoga Garden, Sundown Terrace, Scented Backyard, and Alfresco Eating with BBQ. 

Each roof gardens may even be outfitted with accessible bathrooms for added comfort.

In complete, there will probably be 377 parking heaps, which works out to an 80% lot-to-unit ratio. Penrith can also be designed with sustainability in thoughts and is anticipated to achieve the BCA Inexperienced Mark Platinum (Tremendous Low Power) certification upon completion.

City renewal and future progress in Queenstown

Whereas Queenstown is one in every of Singapore’s oldest housing estates, additionally it is present process vital rejuvenation.

The Tanglin Halt redevelopment will add about 5,500 new houses, together with a brand new hawker centre, market, and higher connectivity to Commonwealth MRT and the Rail Hall.

Past this, the URA has additionally earmarked extra residential plots within the space, creating room for future non-public and public housing.

Since 2021, HDB has steadily launched new BTO tasks in Queenstown, a lot of which is able to attain their Minimal Occupation Interval (MOP) within the coming years. These will naturally generate a wave of potential HDB upgraders trying to transfer into non-public housing close by.

So despite the fact that components of Queenstown nonetheless carry their classic attraction, the broader space is on a transparent path of rejuvenation. 



Market issues and close by apartment comparisons

In line with URA Realis knowledge for 2025, resale costs in Queenstown developments are at the moment decrease than Penrith’s start line of S$2,437 psf. Margaret Ville averages about S$2,207 psf, Stirling Residences round S$2,379 psf, Commonwealth Towers about S$2,248 psf, and Queens Peak roughly S$2,209 psf.

Whereas Penrith’s pricing begins above the resale averages, the regular efficiency of earlier condos exhibits the resilience of the Queenstown property market. Demand has constantly been supported by HDB upgraders, with the city recording a number of the highest numbers of million-dollar flat transactions, particularly at SkyTerrace @ Dawson and SkyVille @ Dawson.

Builders are assured that Penrith will appeal to vital curiosity. With its uncommon location, family-focused unit combine, and complete amenities, the mission is anticipated to attraction to each homebuyers and buyers.

Wrapping up

Penrith’s arrival marks extra than simply one other apartment launch – it alerts the reopening of Queenstown’s non-public residential market after a seven-year pause. With its location alongside Margaret Drive, complete amenities, and concentrate on sensible layouts, the mission is probably going to attract consideration from each householders and buyers. Pricing could begin above present resale averages within the space, however that is per the premium that new launches command, particularly in a mature and well-connected property like Queenstown.

On the identical time, the neighbourhood itself continues to evolve. From the Tanglin Halt redevelopment to new BTO tasks feeding future upgrader demand, Queenstown’s attraction is being bolstered by means of renewal and regular curiosity. For you as a purchaser, Penrith represents not solely an opportunity to safe a house in a primary city-fringe location but additionally to be a part of a district with a confirmed monitor document of resilience and progress.

Keep up to date with the newest information and insights on Singapore’s new launch market right here.

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