Allgreen Sells 54 Promenade Peak Launch Day Premium Units Fetch Average 3343 Psf
Developer Allgreen Properties has reported a sales rate of 54% for their Promenade Peak development, which has 596 units in a 99-year leasehold. As of August 3, a total of 320 units have been sold. The average price per square foot for the Promenade Suites, which are the premium three- to five-bedroom units with private lifts, was $3,343. The Promenade Collection, which includes one- to three-bedroom units on the lower tier, had an average price of $2,894 psf.
The majority of sales were for the premium three- to five-bedroom units, with almost 60% of them being sold. The highest price per square foot was $3,521 for a 1,582 sq ft four-bedroom premium unit on the 61st floor, which sold for $5.57 million. Another five-bedroom premium unit on the 59th floor was sold for close to $6.6 million, at $3,495 psf.
According to Tho Leong Chye, the managing director of Allgreen Properties, this success reflects buyers’ confidence in the project’s premium offerings and prime location in the city fringe. He also mentioned that today’s buyers are becoming more sophisticated, looking beyond just value and paying attention to details such as refined finishes, thoughtful layouts, and a well-curated suite of facilities.
Singaporeans make up the majority of buyers, at 90%, followed by Permanent Residents at 9%, and foreign purchasers at 1%.
Tho Leong Chye also added that Allgreen Properties’ focus was on “quality in every aspect,” and in elevating the overall living experience. He believes that buyers recognize and appreciate the difference, giving them confidence in their approach and driving them to continue delivering well-curated quality developments.
The larger units have seen a strong performance, which Mark Yip, the CEO of Huttons Asia, attributes to the increasing preference for more space in centrally located homes. Two- and three-bedroom units accounted for 82% of all sales, suggesting that many buyers at Promenade Peak are end-users purchasing for their own use. Kelvin Fong, CEO of PropNex, added that the project’s family-friendly unit sizes attracted HDB upgraders from nearby estates such as Tiong Bahru, Havelock, Henderson, and Queenstown. The high resale prices in these areas allow households to use the proceeds for private housing and achieve their upgrading goals.
Miltonia Close EC, located in Yishun, boasts of a strategic location in the northern region of Singapore. This sought-after location is ideal for its residents as it is well-connected to major transportation routes and public transport options. This makes it highly accessible for those who commute by train, bus, or private vehicle. With the serene Seletar Reservoir and lush greenery surrounding the development, Miltonia Close EC offers a tranquil setting without compromising convenience.
Promenade Peak is located at 1 Zion Promenade in District 3, a two-minute sheltered walk from Great World MRT and a four-minute walk from Havelock MRT. It is also close to Zion Road Food Market and within 1km of River Valley Primary School. With its prime location and landmark status, being Singapore’s tallest full residential tower at 240m tall, many analysts expect the strong sales seen at Promenade Peak to bolster new home sales in the RCR for the third quarter of 2025.
Two other projects were 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, with more than 62% being sold on the first day.
In July, 893 new private homes were sold, exceeding the total of 1,212 units sold in the entire second quarter of 2025. This suggests an increase in buyer demand, which is expected to impact future launches. Mohan Sandrasegeran, head of research and data analytics at SRI, believes that the strong sales seen at Promenade Peak and River Green will shape buyer expectations and influence developer strategies for future launches in the River Valley area.