Promenade Peak
Promenade Peak entered the District 3 stage in 2024-2025 as one of the freshest leasehold entrants on the Queenstown-Alexandra corridor — a 596-unit development with a 99-year lease commencing 2024 and a TOP that landed in 2025. By the time prospective buyers evaluate the project in 2026, Promenade Peak is effectively a recently-completed launch with a near-virgin lease clock (~99 years remaining) and the market-positioning luxury of being the newest neighbour on a block already populated by URA-acknowledged heavyweights: Stirling Residences (1,259 units, TOP 2021), Queens Peak (736 units, TOP 2020), and Avenue South Residence (1,074 units, TOP 2023). The thesis is straightforward — a fresh-lease, mid-scale entrant inside an EWL-served, redevelopment-coded precinct — and the execution risk is equally straightforward: pricing the 2024 launch premium against an increasingly crowded resale shelf next door.
This review weighs Promenade Peak’s genuine fresh-lease advantages against the absorption pressure of being the newest tower in a precinct already digesting thousands of competing units, with the Greater Southern Waterfront halo and Queenstown MRT (EW19) connectivity as the two structural anchors that justify the RCR-fringe pricing. Pricing comparisons against sibling projects are easiest via the side-by-side comparison tool, with broader market context available across the District 3 market.
Snapshot as of 2026-05 — figures above reflect publicly available URA/HDB data at the time of this editorial review (as of 2026-05).
District 3 spans Queenstown, Tiong Bahru, and Alexandra — arguably Singapore’s most actively redeveloping mature precinct. Queenstown, the country’s first satellite town (1953), is now mid-way through a generational reset: HDB’s Selective En bloc Redevelopment Scheme (SERS) continues to clear ageing blocks, the URA Master Plan earmarks the precinct for mixed-use intensification, and the upcoming Greater Southern Waterfront (GSW) is set to pull the centre of gravity southward toward the Pasir Panjang-Keppel coastline. Promenade Peak sits inside this transition, drawing on the same employment catchment (one-north, Mapletree Business City, the future GSW commercial nodes) that has anchored Stirling Residences, Queens Peak, and Avenue South Residence over the past five years.
Connectivity is the project’s structural anchor. Queenstown MRT (EW19) on the East-West Line is within walking range, placing residents three stops from Raffles Place and four from Tanjong Pagar — a sub-15-minute CBD rail commute that few RCR projects can match. The surrounding amenity belt leans practical-meets-lifestyle: IKEA Alexandra, Anchorpoint, Queensway Shopping Centre, and the Alexandra Retail Centre cover daily needs, while Henderson Wave and Mount Faber Park sit close enough for weekend recreation. Layer in the Greater Southern Waterfront pipeline — nine times the size of Marina Bay across multiple decades — and the long-horizon thesis becomes a precinct call rather than a unit call. The harder question is whether 2024-2025 launch and TOP pricing has already discounted that thesis. Stress-test affordability with the affordability calculator and review precinct-wide pricing via the price heatmap.
Overview & Key Facts
Promenade Peak is a 596-unit new-launch development at 1 Zion Promenade in District 3, developed by Valerian Residential Pte Ltd, a subsidiary of Allgreen Properties (part of the Kuok Group). Launched in July 2025, this 99-year leasehold project (from 2024) will rise 63 storeys to become Singapore’s tallest residential tower — and the world’s tallest PPVC (Prefabricated Prevolumentric Construction) residential building when completed around 2029-2031.
Allgreen secured the Zion Road Government Land Sale site for approximately $730 million ($1,304 PSF per plot ratio) — a bullish bid that signalled confidence in the Great World–River Valley corridor. The development sold 324 units (54%) on its launch weekend at an average PSF of $2,894 for the Promenade Collection and $3,343 for the Promenade Suites, with 82% of transactions concentrated in 2- and 3-bedroom configurations. Buyers were overwhelmingly Singaporeans and PRs, suggesting strong end-user demand rather than speculative interest.
For buyers seeking a trophy address on Singapore’s riverfront, Promenade Peak competes in a rarefied tier. Its dual-MRT proximity (170m to Havelock, 250m to Great World on the Thomson-East Coast Line) and panoramic views from the upper floors position it as one of the most ambitious RCR launches of the decade.
Location & Connectivity
Promenade Peak occupies one of the most strategically connected sites in the RCR. Havelock MRT is just 170 metres away, while Great World MRT on the Thomson-East Coast Line sits 250 metres to the north. Both stations provide direct access to Orchard, Marina Bay, and the CBD without transfers. This dual-MRT advantage is rare and puts Promenade Peak in a connectivity class that few new launches can match.
Promenade Peak sits within walking distance of Robertson Quay’s dining and nightlife strip, the Singapore River promenade, and Great World City mall. The Zion Riverside Food Centre — one of Singapore’s most beloved hawker centres — is virtually at the doorstep, offering Michelin-recognised stalls at neighbourhood prices.
Great World City mall, just 210 metres away, provides a comprehensive retail anchor with fashion, F&B, a Cold Storage supermarket, and a cinema. For weekend indulgences, Robertson Quay’s waterfront bars and restaurants are a 10-minute stroll along the river. Orchard Road’s flagship malls are one MRT stop away via Great World station. The neighbourhood effortlessly blends everyday convenience with lifestyle sophistication — a combination that appeals to both owner-occupiers and potential tenants.
For families, Kheng Cheng School is 410 metres away, while Fairfield Methodist Primary (710m) and Gan Eng Seng Primary (790m) are within the 1km priority zone. Driving connectivity is excellent: the CTE is minutes away, and the AYE provides a direct route to the western industrial corridor and Jurong business district.
Schools & Education
3 primary schools within the 1 km Priority Phase balloting radius.
| School | Type | Distance |
|---|---|---|
| Kheng Cheng School | primary | Within 1 km |
| Fairfield Methodist School (Primary) | primary | Within 1 km |
| Gan Eng Seng School | secondary | Within 1 km |
| Gan Eng Seng Primary School | primary | Within 1 km |
| Outram Secondary School | secondary | Within 1 km |
| Henderson Secondary School | secondary | ~1.5 km |
| Cantonment Primary School | primary | ~1.5 km |
| River Valley Primary School | primary | ~1.6 km |
Facilities
Promenade Peak’s facilities are designed to match its skyline ambitions. The ground-level Grand Promenade features a 50-metre lap pool, children’s play areas, a bowling lawn, a pickleball court, function rooms, and a tree-top walk through landscaped gardens. But the real showpiece is the Sky Terrace on the 64th floor — an infinity lap pool, private dining room, and lounge positioned at what the developer claims will be the highest residential pool in Singapore, offering unobstructed views across the Marina Bay skyline, Sentosa, and the Southern Islands.
“We visited the showflat and the scale model of the sky terrace is jaw-dropping. If the actual views live up to the renders, this could be the most Instagrammable pool in Singapore. The ground-level facilities are generous too — the pickleball court sealed the deal for us.”
— Launch weekend buyer, PropertyGuru forum, August 2025
Unit Sizes & Layout
The 596 units span a wide range: 1-bedroom+study (80 units), 2-bedroom (200 units), 2-bedroom+study (120 units), 3-bedroom (80 units), 3-bedroom premium (38 units), 4-bedroom premium (57 units), 5-bedroom premium (19 units), and 2 penthouses. The heavy weighting toward 2- and 3-bedroom layouts reflects market demand along the Singapore River corridor, where young professionals and small families dominate the buyer profile. The PPVC construction method should deliver consistent build quality across units, with tighter tolerances than conventional cast-in-situ methods.
At 63 storeys, stack selection at Promenade Peak is less about avoiding specific views and more about choosing your preferred panorama. Lower floors (1-20) will face neighbouring mid-rise developments and may have partially blocked sightlines. Mid-floors (20-40) begin to clear surrounding buildings, while upper floors (40+) command sweeping vistas of the Singapore River, Marina Bay, and Sentosa. The price differential between low and high floors is substantial — expect a 15-20% premium for the uppermost stacks.
North-facing stacks offer views toward Great World City and the Orchard Road skyline. South-facing units overlook the Singapore River and Keppel Bay. For buyers prioritising long-term view protection, east-facing stacks on floors 30+ clear the Alexandra and Tiong Bahru mid-rise belt. Be aware that lower-floor units may face construction activity during the build phase (expected TOP 2029-2031).
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 1 BR | 218 | $2,907 | $1,865,817 |
| 2 BR | 56 | $2,920 | $2,283,269 |
| 3 BR | 109 | $3,020 | $3,306,939 |
| 4 BR | 38 | $3,388 | $5,185,342 |
Pricing & Market Position
Based on 421 recorded transactions, sale prices range from $1,413,067 to $6,658,100, averaging $2,594,087 (~$2,981 psf).
Price Appreciation
From 2025 to 2026, the average PSF has appreciated by 4.4% (from $2,970 to $3,100 psf).
Neighbourhood Comparison
Promenade Peak’s competitive set includes One Pearl Bank ($2,568 PSF, completed), Avenue South Residence ($2,260 PSF), and the nearby Zyon Grand ($3,049 PSF). Against One Pearl Bank, Promenade Peak offers newer facilities and the tallest-tower cachet but at a $400+ premium on a PSF basis. Avenue South Residence undercuts significantly at $2,260 PSF, though its Greater Southern Waterfront location is further from established amenities.
The more intriguing comparison is with freehold alternatives along the River Valley corridor. The Continuum at $2,790 PSF offers freehold tenure in D15, while Penrith at $2,795 PSF provides a newer product in the immediate vicinity. For buyers who value height, views, and the bragging rights of Singapore’s tallest residential address, Promenade Peak commands its premium. For those who prioritise tenure or proven capital appreciation, the freehold alternatives may offer a more conservative play.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| PROMENADE PEAK | 99 yrs lease commencing from 2024 | 2025 | 596 | $2,981 |
| ZYON GRAND | 99 yrs lease commencing from 2024 | 2025 | 1,079 | $3,052 |
| AVENUE SOUTH RESIDENCE | 99 yrs lease commencing from 2018 | 2021 | 1,074 | $2,261 |
| STIRLING RESIDENCES | 99 yrs lease commencing from 2017 | 2021 | 1,259 | $2,275 |
| PENRITH | 99 yrs lease commencing from 2024 | 2025 | 462 | $2,796 |
| ONE PEARL BANK | 99 yrs lease commencing from 2019 | 2021 | 774 | $2,569 |
Lease Decay Analysis
The 99-year lease runs from 2024, meaning approximately 2 years have already been consumed. Roughly 97 years remain — still comfortably within the range where most banks will offer full financing without restrictions.
| Year | Lease remaining | Implication |
|---|---|---|
| 2026 (now) | ~97 years | Full bank financing available |
| 2054 | ~69 years | CPF usage still unrestricted for most buyers |
| 2063 | ~59 years | Approaching 60-year threshold — CPF limits begin for some |
| 2083 | ~39 years | Significant financing restrictions for next buyer |
| 2123 | Expiry | Lease reverts to state |
For a buyer purchasing today with a 10-year horizon (exit around 2036), the lease situation is essentially a non-issue — you’d be selling a property with ~87 years remaining, which is still very bankable. The risk profile changes for longer holds.
ShiokNest Scores
Our proprietary scoring system evaluates PROMENADE PEAK across multiple dimensions.
What Residents Say
“We looked at every new launch in the RCR this year and Promenade Peak stood out for the dual-MRT access. Being able to walk to both Havelock and Great World stations in under 5 minutes is genuinely rare. We bought a 3-bedder for own stay.”
— Launch weekend buyer, Stacked Homes forum, August 2025
“The pricing felt steep at first — nearly $3,000 PSF for a 99-year leasehold. But when we compared it to One Pearl Bank and the older freehold condos along River Valley, the math works out. The 63-storey height means views that most condos simply can’t offer.”
— Market observer, PropertyGuru forum, 2025
“My only hesitation is the PPVC construction. It’s proven technology, but at 63 storeys it’s unprecedented. I’ll wait and see how the first phases complete before committing. The location is undeniably excellent though.”
— Prospective buyer, HardwareZone forum, 2025
1. Fresh 99-year lease from 2024. Among District 3’s active inventory, Promenade Peak holds one of the longest remaining leases — approximately 99 years versus Stirling Residences’ ~90 years (from 2017), Queens Peak’s ~93 years (from 2016), and Avenue South Residence’s ~95 years (from 2019). Fresh-lease optionality matters for terminal-value modelling, financing tenure under MAS guidelines, and inter-generational hold scenarios. Buyers planning multi-decade holds or those concerned about late-stage lease-decay mechanics gain real optionality versus the older neighbours.
2. EWL connectivity from Queenstown MRT. Queenstown MRT (EW19) sits within reasonable walking distance, delivering the same structural advantage that anchored Stirling Residences’ thesis — direct East-West Line access to Raffles Place, Tanjong Pagar, and Outram Park. For owner-occupiers commuting daily into the CBD, this remains one of the few RCR-fringe propositions with sub-15-minute rail access to the financial district. Pedestrian convenience to the station is a tangible quality-of-life advantage in Singapore’s climate.
3. Greater Southern Waterfront halo. The GSW masterplan — which will reshape the southern coastline from Pasir Panjang through Keppel and into Marina South over the coming decades — sits geographically adjacent to the Queenstown-Alexandra corridor. While the bulk of GSW delivery is multi-decade, the precinct halo (improved public realm, transport connectivity, employment density) accrues to projects positioned along the access corridor. Promenade Peak benefits from the same locational tailwind that anchored Avenue South Residence’s narrative.
4. Mid-scale 596-unit footprint. Relative to Stirling Residences (1,259 units) and Avenue South Residence (1,074 units), Promenade Peak’s 596-unit count delivers a noticeably lighter common-area density — shorter lift wait times, less peak-hour lap pool loading, and a more manageable resale supply pipeline. Buyers tired of mega-development congestion will find the scale a deliberate counter-positioning. Estimate carrying costs with the mortgage calculator and total-cost-of-ownership via the total cost calculator.
1. New-launch absorption inside a saturated micro-market. Promenade Peak’s 596 units enter a precinct already digesting Stirling Residences (1,259), Queens Peak (736), and Avenue South Residence (1,074) — well over 3,000 directly competing units within a tight radius. Early resale listings from Promenade Peak will be price-anchored by the cheapest motivated seller across the entire micro-market, not by intrinsic Promenade Peak fundamentals. Sellers in the first 24-36 months post-TOP should expect compressed pricing power and longer days-on-market versus less-supplied precincts.
2. RCR pricing versus improving OCR alternatives. The Rest-of-Central-Region premium that historically commanded a clear step above OCR is being arbitraged. New OCR launches at Lentor, Tengah, and the eastern corridor now print psf numbers that approach or match mid-tier RCR resale, while OCR connectivity continues to improve via Thomson-East Coast Line build-out. Buyers underwriting Promenade Peak on a strict price-discovery basis should benchmark against fresh OCR launches as well as RCR neighbours via the comparison tool.
3. Queenstown supply pipeline. The Queenstown-Alexandra corridor remains an active Government Land Sales target, and additional new-launch supply over the next 3-5 years could further dilute pricing power. Buyers should monitor URA GLS confirmed-list sites and master plan amendments that signal additional residential intensification in the immediate catchment. Long-horizon owner-occupiers are insulated; medium-term flippers face greater pipeline-risk exposure.
4. Fresh-lease premium versus near-peer resale discount. Promenade Peak’s ~99-year lease commands a premium over sibling resale stock with 90-95 years remaining, but the per-year-of-lease premium has to be weighed against the resale discount available on slightly older neighbours offering similar specs. The arithmetic is buyer-specific — an investor with a 7-10 year hold may extract more value from a discounted Stirling or Queens Peak unit than from a fresh-lease Promenade Peak unit. Run lease-decay scenarios with the lease decay calculator and stress yields via the ROI calculator.
5. Rental yield compression at TOP-stage launches. The first 12-24 months post-TOP typically see compressed rental yields as multiple stacks come onto the leasing market simultaneously. With Queenstown’s deep tenant catchment (one-north, NUS, CBD), absolute rents are supported, but yield-per-psf can lag stabilised neighbours until the launch tranche absorbs. Pressure-test cash flow assumptions via the cash flow calculator.
Best fit: Long-horizon owner-occupiers prioritising fresh lease and EWL CBD access — the combination of ~99 years remaining, walkability to Queenstown MRT, and a mid-scale 596-unit footprint delivers a defensible owner-occupier proposition that the larger sibling developments cannot match on density. Also suited to inter-generational holders who want maximum lease optionality and buyers positioning long-term on the Greater Southern Waterfront narrative. Estimate stamp duty exposure with the stamp duty calculator.
Marginal fit: Yield-focused investors entering during the absorption window — Promenade Peak’s post-TOP rental phase will face simultaneous-stack leasing competition that compresses near-term yields, and the launch premium versus discounted Stirling or Queens Peak resale needs careful arithmetic. Investors should benchmark using the refinancing calculator to model multi-year debt servicing and compare entry-yield scenarios via the price heatmap.
Poor fit: Short-term flippers betting on launch-to-resale appreciation — the precinct’s 3,000+ competing unit pipeline structurally caps near-term capital gains, and the Queenstown GLS pipeline could add further supply. HDB upgraders without sufficient cash buffer for the fresh-lease RCR premium should also model the transition carefully via the HDB grant calculator and TDSR calculator. Couples weighing ownership restructuring to free up a second purchase can quantify trade-offs through the decoupling calculator.
Verdict: Selective-buy for fresh-lease owner-occupiers; cautious for absorption-window investors. Promenade Peak delivers a clean, defensible fresh-lease proposition inside one of Singapore’s most actively redeveloping precincts — the ~99-year leasehold runway, EWL connectivity, and Greater Southern Waterfront halo all stack as legitimate structural anchors. The execution risk is concentrated in the absorption window: 596 new units arriving on top of 3,000+ competing units across Stirling Residences, Queens Peak, and Avenue South Residence means early resale and rental pricing will be anchored by precinct-wide motivated supply, not by Promenade Peak fundamentals.
For owner-occupiers who will hold 10+ years and value fresh-lease optionality, the proposition is straightforward and defensible — the connectivity premium compounds across the hold period and the lease-decay drag is deferred by decades. For investors, the calculus is tighter: an entry-window discount versus underwriting against a stabilised Stirling or Queens Peak resale needs careful per-unit arithmetic, and absorption-window yield compression should be modelled explicitly. Underwrite conservatively, prioritise differentiated stacks (mid-to-high floor, clear orientation), and cross-check pricing against the District 3 benchmarks and the price heatmap before committing.