Allgreen sells 54% of Promenade Peak on launch day; premium units fetch an average of $3,343 psf
Crowd at the preview of Allgreen Propertis' Promenade Peak (Photo: Property Agent)
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Since sales began on August 1, developer Allgreen Properties has sold 320 units (54%) of the 596 units at the 99-year leasehold Promenade Peak as at 6pm of August 3.
According to the developer, the average price of units achieved was $3,343 psf for units for the Promenade Suites (the premium three- to five-bedroom units with private lift). Meanwhile, the Promenade Collection (one- to three-bedroom units( on the lower tier, saw an average price of $2,894 psf.
Nearly 60% of the three- to five-bedroom premium units were sold. The highest price transacted was $3,521 psf, for a 1,582 sq ft four-bedroom premium unit on the 61st floor that fetched $5.57 million. Meanwhile, a five-bedroom premium unit on the 59th floor was sold for close to $6.6 million ($3,495 psf).
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“It underscores buyers’ confidence in the project’s premium offering and prime city-fringe location,” says Tho Leong Chye, managing director of Allgreen Properties. “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.”
Singaporeans were said to make up 90% of the buyers, followed by Permanent Residents (9%) and foreign purchasers (1%).
Allgreen’s focus was on “quality in every aspect”, and in elevating the overall living experience, adds Tho. “Buyers recognise and appreciate the difference,” he notes. “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 too, especially in centrally located homes, says 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.
The project's family-friendly unit sizes attracted HDB upgraders from nearby estates such as Tiong Bahru, Havelock, Henderson, and Queenstown, according to Fong. The high resale prices in these estates allow households to use the proceeds for private housing and achieve their upgrading goals, he adds.
The 63-storey Promenade Peak will stand 240m tall, and will be considered Singapore's tallest full residential tower when completed (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Prime location and landmark status
Promenade Peak is 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 close to Zion Road Food Market. It is located 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. It will be Singapore’s tallest full-residential skyscraper, built with prefabricated prefinished volumetric construction. “It features panoramic views and elevated lifestyle offerings such as the highest infinity pool in Singapore,” according to Allgreen’s Tho.
Promenade Peak is located at 1 Zion Promenade, just a two-minute walk via a sheltered walkway to Great World MRT Station and Great World mall, developed and owned by Allgreen Properties (Source: EdgeProp Landlens)
Boost to RCR sales and market momentum
Promenade Peak is the newest Rest of Central Region (RCR) project launched this year. It follows LyndenWoods in Science Park, where 94% of 324 units were sold on launch day. Analysts suggest these back-to-back strong launches may bolster new home sales in the RCR for 3Q2025, according to PropNex’s Fong.
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. More than 62% were sold on the first day, August 2.
In July, 893 new private homes were sold, excluding executive condominiums. As a result, cumulative new home sales for July and August have already exceeded 1,820 units. This surpasses the total of 1,212 units sold in the entire 2Q2025, suggesting a pickup in buyer demand, according to PropNex Research.
“This weekend’s strong sales underscore the resilience of private housing demand across market segments and reflect homebuyers’ confidence in Singapore’s residential property outlook over the mid- to long-term,” says Fong.
Looking ahead, this performance is expected to impact future launches. Mohan Sandrasegeran, head of research and data analytics at SRI, adds that the strong sales seen at Promenade Peak and River Green could shape buyer expectations as well as 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.
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