Allgreen Properties has seen strong sales at its 99-year leasehold project, Promenade Peak, since its launch on August 1. As of 6pm on August 3, the developer has sold 320 units, which make up 54% of the 596 available units.
The average price achieved for units in the Promenade Suites, the premium three- to five-bedroom units with private lift, was $3,343 psf. On the other hand, the Promenade Collection, which comprises one- to three-bedroom units on the lower tier, saw an average price of $2,894 psf.
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According to Tho Leong Chye, managing director of Allgreen Properties, this reflects the growing sophistication of 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 strong performance for the larger units also suggests a clear preference for space in centrally located homes, says Mark Yip, CEO of Huttons Asia.
Singaporeans make up the majority of buyers at 90%, followed by Permanent Residents (9%), and foreign purchasers (1%). Allgreen Properties attributes this success to its focus on “quality in every aspect” and its commitment to elevating the overall living experience. The developer believes that this gives them confidence to continue delivering well-curated quality developments in the future.
Promenade Peak’s family-friendly unit sizes have also attracted HDB upgraders from nearby estates such as Tiong Bahru, Havelock, Henderson, and Queenstown, says Kelvin Fong, CEO of PropNex. The high resale prices in these estates have allowed households to use the proceeds for private housing and achieve their upgrading goals.
Promenade Peak is located at 1 Zion Promenade in District 3. It is a two-minute sheltered walk to Great World MRT and a four-minute walk to Havelock MRT. The development is also within 1km of River Valley Primary School, and near the CBD, Orchard Road, and Dempsey Hill, according to Marcus Chu, CEO of ERA Singapore.
The 63-storey Promenade Peak will stand 240m tall and will be Singapore’s tallest full-residential skyscraper, built with prefabricated prefinished volumetric construction. It will feature panoramic views and elevated lifestyle offerings such as the highest infinity pool in Singapore, according to Allgreen’s Tho.
Promenade Peak is the newest Rest of Central Region (RCR) project launched this year, following the successful launch of Lynden Woods, where 94% of 324 units were sold on launch day. According to analysts, these back-to-back strong launches may bolster new home sales in the RCR for 3Q2025.
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 launches put 1,496 new units on the market, and over 62% were sold on the first day, August 2.
With 893 new private homes sold in July, excluding executive condominiums, cumulative new home sales for July and August have already exceeded 1,820 units, surpassing the total of 1,212 units sold in the entire 2Q2025. This suggests a pickup in buyer demand, according to PropNex Research.
Fong says that the strong sales seen over the weekend demonstrate the resilience of private housing demand across market segments and reflect buyers’ confidence in Singapore’s residential property outlook over the mid- to long-term.
He adds that future launches would be impacted by this performance, while Mohan Sandrasegeran, head of research and data analytics at SRI, believes that the strong sales seen at Promenade Peak and River Green could shape buyer expectations and influence developer strategies for future launches in the River Valley area, such as Zyon Grand later this year and River Valley Green (Parcel B) in 2026.