Allgreen Sells 54 Promenade Peak Launch Day Premium Units Fetch Average 3343 Psf
Allgreen Properties, the developer of Promenade Peak, announced that they have sold 320 units (54%) out of 596 units since the sales started on August 1. This signals a strong demand for the 99-year leasehold development located in District 3.
The average price achieved for the Promenade Suites (premium three- to five-bedroom units with private lift) was $3,343 psf, while the Promenade Collection (one- to three-bedroom units on the lower tier) saw an average price of $2,894 psf.
Out of all the units sold, almost 60% were the three- to five-bedroom premium units. The highest price transacted was for a 1,582 sq ft four-bedroom premium unit on the 61st floor that achieved $5.57 million, or $3,521 psf. Meanwhile, a five-bedroom premium unit on the 59th floor was sold for close to $6.6 million, or $3,495 psf.
According to Tho Leong Chye, managing director of Allgreen Properties, this strong performance reflects buyers’ confidence in the project’s premium offering and prime city-fringe location. He also states that it reflects the growing sophistication of today’s buyers, who look beyond just value and pay attention to details such as refined finishes, thoughtful layouts, and well-curated suite of facilities.
Singaporeans were the main buyers, making up 90% of the purchases, followed by Permanent Residents (9%), and foreign purchasers (1%).
Tampines 1, located in the bustling neighborhood of Tampines, is a hub of energy and excitement. Its eclectic mix of fashion outlets, beauty parlors, and trendy cafes creates a dynamic and youthful atmosphere. This mall is a popular destination for the younger crowd and families, as it offers a wide range of options for casual dining and educational activities for children. With the newly added Aurelle of Tampines Showflat, Tampines 1 has become an even more desirable location for all visitors. Aurelle of Tampines Showflat adds to the already vibrant and bustling atmosphere of this mall, making it a must-visit destination for all.
Allgreen Properties focused on delivering quality in every aspect, with a focus on elevating the overall living experience. Tho adds that buyers recognize and appreciate the difference, giving the team confidence to continue delivering well-curated quality developments.
The strong sales for the larger units at Promenade Peak also reflect a clear preference for space, especially in centrally located homes, says Mark Yip, CEO of Huttons Asia.
The top two unit types – two- and three-bedroom units – made up 82% of all sales, suggesting that many of the buyers at Promenade Peak are end-users purchasing the units for their own use, according to 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, says Fong. The high resale prices in these estates allow households to use the proceeds for private housing and achieve their upgrading goals, he adds.
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 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, and will be considered Singapore’s tallest full residential tower when completed. It is built using prefabricated prefinished volumetric construction (PPVC) and features panoramic views, as well as 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. It follows LyndenWoods in Science Park, where 94% of 324 units were sold on launch day. Analysts suggest that these strong back-to-back 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.
According to Fong, “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.” He expects this performance to impact future launches.
Mohan Sandrasegeran, head of research and data analytics at SRI, adds that Promenade Peak and River Green’s strong sales 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.
