Skywaters Residences
Overview & Key Facts
Skywaters Residences is not a condominium by any conventional measure. It is Singapore’s first supertall skyscraper — a 305-metre, 63-storey tower rising over the intersection of Shenton Way and Prince Edward Road in the heart of the Central Business District. Designed by Skidmore, Owings & Merrill (SOM) — the same firm responsible for the Burj Khalifa, One World Trade Center, and Shanghai’s Jin Mao Tower — the tower is an architectural statement of a kind Singapore has never seen before. When it reaches completion in 2028, it will surpass Guoco Tower to become the tallest building in the republic, and the first in Southeast Asia to qualify as a supertall structure.
Developed by a consortium led by Perennial Holdings Private Limited, the mixed-use development occupies the site of the former AXA Tower — notably, the tallest building ever voluntarily demolished — and houses Grade-A office floors, curated retail, an Aman Singapore hotel (the brand’s first Singapore property), and 146 ultra-luxury residences perched above 200 metres. The residences are further augmented by separately branded Aman Residences on floors 28 to 30, making this one of very few addresses in the world where private residential living integrates directly with Aman’s legendary hospitality infrastructure.
At an average of S$6,096 psf and a median transaction price of S$30.87 million, Skywaters Residences sets benchmarks that redefine the upper boundary of Singapore’s residential market. The development is not measured against other District 1 condominiums — it is measured against Park Hyatt Residences in Tokyo, Aman Residences New York, and The Residences at Mandarin Oriental in London. For the ultra-high-net-worth individual, the family office, or the C-suite executive seeking a Singapore base that reflects their global standing, Skywaters Residences occupies a category of one.
Location & Connectivity
The address — 1 Prince Edward Road / 8 Shenton Way — sits precisely at the convergence of Singapore’s three most strategically important urban precincts: the established Central Business District of Shenton Way-Tanjong Pagar, the Marina Bay financial and cultural hub, and the emerging Greater Southern Waterfront development corridor that will eventually transform 30 km of southern coastline. No other residential address in Singapore sits at this three-way intersection of established prestige, existing infrastructure density, and future capital appreciation potential.
Transport connectivity is exceptional even by Singapore’s world-class standards. The development provides direct underground pedestrian connectivity to Tanjong Pagar MRT Station (East-West Line), and will have access to the upcoming Prince Edward Road MRT Station on the Circle Line extension, as well as Maxwell MRT Station nearby. For residents above the 50th floor, the Singapore skyline and South China Sea are visible from above 200 metres — views that are physically impossible to obstruct regardless of any future development below. The CTE, MCE (Marina Coastal Expressway), and AYE are all within minutes by car. Changi Airport is a direct 25-minute drive.
The immediate neighbourhood has undergone significant transformation over the past decade. The Tanjong Pagar precinct now houses Singapore’s densest cluster of Michelin-starred and Michelin-recommended restaurants, including Burnt Ends, Cure, Brine, and Zén. The Maxwell area offers hawker heritage at Maxwell Food Centre alongside curated mid-century shophouse conversions. Marina Bay Sands, Gardens by the Bay, the ArtScience Museum, and the Esplanade are all within 15 minutes on foot or via the underground pedestrian network. For a resident whose office is in the same building, the daily commute is measured in elevator minutes.
Facilities
The amenity programme at Skywaters Residences is structured across three dedicated sky-level floors — levels 27, 32, and 46 — delivering over 32,000 square feet of curated facilities at altitudes that most Singapore condominiums simply cannot achieve. Level 27 houses a heated sheltered pool, tearoom, gourmet lounge with a chef’s herb garden, and a wine lounge. Level 32 hosts what will be one of Singapore’s highest residential infinity pools — a 50-metre lap pool offering unobstructed views across the city grid — alongside a sky clubhouse for private entertaining. Level 46 delivers a sky fitness pavilion, sky bar, pet corner, and children’s play areas. The biophilic design philosophy, inspired by Singapore’s Black-and-White bungalow tradition and executed by long-standing Aman collaborator Kerry Hill Architects, weaves over 400 trees and 170 plant species across 160,000+ square feet of green space into the tower’s structure — a living landscape at elevation.
The Aman Singapore hotel on floors 24 to 26 brings with it the Aman Spa, occupying an entire floor with an infinity-edged pool and the brand’s signature wellness programming including sound healing, Ayurvedic treatments, and movement studios. Residents have access to a private Aman Club — a members-only concept also operating in Tokyo and New York — providing curated dining, social events, and the discreet world of Aman hospitality without leaving the building. Concierge services drawn from Aman’s service culture are available to all residents, covering everything from private dining arrangements to helicopter charter coordination. The building incorporates full smart-home automation: app-controlled lighting, automated curtains, digital locksets, motion sensors, energy monitoring, and smart surveillance throughout.
“The Aman Spa will occupy an entire floor, crowned by an infinity-edged pool — an experience accessible to both residents and hotel guests within the same integrated tower.”
— Tatler Asia, feature editorial on The Skywaters
Unit Sizes & Layout
The residential collection comprises 146 sky residences and penthouses perched above 200 metres on the upper floors of the tower. Unit types span three to four-bedroom sky apartments from approximately 2,217 to 3,875 sqft, deluxe four to five-bedroom residences from 5,210 to 6,512 sqft, and penthouses and sky villas with private pools from 7,761 to 18,794 sqft. Every unit features private elevators, Italian wardrobe joinery, European marble bathrooms, customizable European kitchen appliances, and curved floor-to-ceiling glass walls in living and dining areas — the architectural feature SOM designed to dissolve the boundary between the interior and the Singapore skyline. The first recorded sale — a 57th-floor penthouse at 7,761 sqft — transacted at S$47.34 million, or S$6,100 psf. A subsequent three-bedroom unit on the 30th floor sold at S$6,501 psf, the highest psf ever achieved for a 99-year leasehold residential project in Singapore. A five-bedroom unit on the 55th floor transacted at S$30 million, reaching S$5,841 psf.
The separately branded Aman Residences occupy floors 28 to 30 and are designed by Kerry Hill Architects in a distinct language drawing from Singapore’s colonial bungalow heritage — layered natural textures, generous spatial proportions, and Aman’s characteristic restraint translated into sky-level residential form. Owners of Aman Residences receive direct access to the Aman Club, Aman Spa, and the hotel’s full service infrastructure. With fewer than 30 Aman-branded residences globally across all cities, ownership at this address represents an extraordinarily rare intersection of branded hospitality, supertall architecture, and Singapore’s most strategically positioned urban address.
| Bedrooms | Transactions | Avg PSF | Avg Price |
|---|---|---|---|
| 4 BR | 1 | $6,502 | $11,687,000 |
| 5 BR | 3 | $5,963 | $30,231,447 |
Pricing & Market Position
Based on 4 recorded transactions, sale prices range from $11,687,000 to $47,342,000, averaging $25,595,335 (~$6,096 psf).
Price Appreciation
From 2024 to 2026, the average PSF has declined by 2.5% (from $6,100 to $5,947 psf).
Neighbourhood Comparison
Skywaters Residences does not compete with Marina One Residences, The Sail, or any other District 1 condominium on the conventional price ladder. Its true peer set is global: Aman Residences New York (220 Central Park South, where Aman-adjacent units have traded above US$9,000 psf), Park Hyatt Residences in Chicago, and the Bulgari Residences Dubai. Within Singapore, the closest comparable — and it is an imperfect comparison — is Park Nova (D10, freehold, averaging S$4,882 psf) and the Ritz-Carlton Residences Cairnhill (D9, freehold, ranging S$4,240–$5,999 psf). Both are distinguished ultra-prime addresses; neither is a supertall, neither integrates a live Aman hotel, and neither commands the same vertical rarity premium.
The freehold tenure of Park Nova and Ritz-Carlton Residences is a genuine structural advantage for buyers optimising on lease security over a 40–50 year horizon. Skywaters’ 99-year leasehold from 2024 — with 97 years remaining — is not a concern for buyers in the current generation, but it does introduce a modest resale discount relative to freehold peers when selling to lease-sensitive local buyers in 25–30 years. For the global UHNW buyer or family office whose primary motivation is Singapore residency, asset diversification, and the Aman lifestyle ecosystem, tenure is a secondary consideration against the unique architectural and cultural positioning of this address.
| Development | Tenure | TOP | Units | ~Avg PSF |
|---|---|---|---|---|
| SKYWATERS RESIDENCES | 99 years leasehold | 2024 | 146 | $6,096 |
| ONE MARINA GARDENS | 99 yrs lease commencing from 2023 | 2025 | 937 | $2,957 |
| THE SAIL @ MARINA BAY | 99-year leasehold | 2008 | 1,111 | $2,011 |
| MARINA ONE RESIDENCES | 99 yrs lease commencing from 2011 | 2018 | 1,042 | $2,323 |
| UNION SQUARE RESIDENCES | 99 yrs lease commencing from 2024 | 2024 | 366 | $3,159 |
| ONE SHENTON | 99 yrs lease commencing from 2005 | 2010 | 341 | $1,774 |
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 SKYWATERS RESIDENCES across multiple dimensions.
What Residents Say
“This is the kind of address you acquire once in a lifetime — not because you need more space, but because there will never be another building like this in Singapore. Living above 200 metres in the same tower as Aman is a statement about who you are and where you choose to be.”
— Prospective purchaser, C-suite executive, via Tatler Asia
“The Aman connection changes everything. You’re not buying a condo with a pool — you’re buying into a hospitality ecosystem. The spa on your floor. The club. The service culture. It’s closer to owning a suite at the world’s most exclusive hotel than buying a home.”
— Family office principal, international buyer commentary via Branded Residences
“When the penthouse transacted at $47 million, some called it expensive. We called it the opening bid on a new category of Singapore real estate. There is simply no other supertall branded residence in the country — and there won’t be another one built in our lifetimes.”
— Singapore-based private banker, as quoted in The Edge / EdgeProp
Strengths & Weaknesses
- Singapore's only supertall residential tower — 305m, 63 storeys, a one-of-one architectural landmark
- Designed by SOM (Burj Khalifa, One World Trade Center) with biophilic bamboo-inspired facade
- Aman Singapore hotel integration — Aman Spa, Aman Club, full Aman service culture in-building
- Sky-level amenities across three dedicated floors (levels 27, 32, 46) above 200m altitude
- Panoramic views of South China Sea, Sentosa, Marina Bay — physically unobstructable by altitude
- Direct underground connectivity to Tanjong Pagar MRT + upcoming Prince Edward Road MRT
- Prime trifecta location: CBD, Marina Bay, and Greater Southern Waterfront convergence zone
- Only 146 residences in the entire tower — exceptional exclusivity at a Raffles City-scale address
- Brand-new 2024 completion — 97 years of lease remaining, well above CPF/financing thresholds
- Over 160,000 sqft of green spaces + 400 trees — Green Mark Platinum-targeting sustainability
- Full smart-home automation: app-controlled lighting, automated curtains, digital locksets, energy monitoring
- 99-year leasehold tenure — mild discount vs freehold ultra-prime (Park Nova, Nassim Road) for long-horizon buyers
- No rental data yet (2024 completion) — yield metrics are absent, gross yield effectively N/A
- Investment score 37/100 — thin transaction volume (4 sales) limits liquidity analysis; not a yield play
- Ultra-high entry price ($25M+ average, $30.87M median) — one of the most illiquid buyer pools in Singapore
- Construction completion 2028 — residents must wait; units remain under development
- Maintenance fees will be among the highest in Singapore given amenity scale and Aman service overlay
- Transaction-based valuation is difficult with only 4 recorded sales across a $6,000 psf range
- ABF (Additional Buyer's Stamp Duty) impact is significant at UHNW price points for foreign buyers
Verdict
The investment thesis for Skywaters Residences is fundamentally different from any other Singapore residential asset. The conventional analytical frameworks — yield metrics, psf comparisons against nearby condos, lease decay modelling — are only partially applicable here. At S$6,096 psf average with zero rental data and an investment score of 37/100, the conventional analytics flag this as speculative. They are not wrong. But they are measuring the wrong thing. Skywaters Residences is a trophy asset: a one-of-one architectural landmark in a city that has not produced a comparable address in its entire modern history. Trophy assets are not valued by yield; they are valued by scarcity, by the quality of their peer set globally, and by the depth of the capital pool that can access them.
The 99-year leasehold tenure from 2024 means 97 years remaining — a lease position that will remain above the CPF 75-year threshold until 2046. The lease does introduce a mild pricing discount relative to freehold ultra-prime (Park Nova, Nassim Road, Ardmore) for buyers thinking on a 30-year horizon. But for the UHNW buyer — for whom lease decay is a minor consideration against the uniqueness of the asset and the Singapore permanent residency and wealth management benefits the country provides — 97 years is effectively perpetual within any realistic holding horizon. The relevant question is not “how does this compare to The Sail at S$2,008 psf” but “how does this compare to Aman Residences New York, or the Four Seasons Private Residences at Twenty Grosvenor Square?”
Singapore’s structural position as Southeast Asia’s premier wealth management hub, the influx of family offices (over 1,100 by 2023, accelerating under MAS incentive frameworks), and the absence of a comparable supertall residential address anywhere else in the region collectively underpin demand for this address over the next decade. Skywaters Residences is the rarest kind of real estate: a product that, once sold out, can never be replicated. For a buyer capable of committing at this price point, the scarcity premium is not a risk — it is the primary source of return.