Promenade Peak by Allgreen – Singapore’s Newest Skyline Icon at Zion Promenade

Introduction

Promenade Peak is a highly anticipated new launch condominium that soars 63 storeys above the Singapore River, redefining luxury city-fringe living. Developed by Allgreen Properties, this landmark tower stands on a prime site at Zion Promenade in District 3 – an area bridging the prestigious River Valley and Alexandra locales. As the tallest residential PPVC tower in Singapore, Promenade Peak commands panoramic vistas of the city skyline and waters – from the Orchard Road skyline and Bukit Timah Hill to Marina Bay Sands, Sentosa and even the sea[2]. Located next to Great World City and just a few minutes’ walk from two MRT stations, it offers unrivaled convenience in an exclusive waterfront setting. The development features 596 exquisitely designed units ranging from one-bedroom+study apartments to sprawling five-bedroom penthouses, all adorned with premium fittings and smart-home technology for a modern, wellness-focused lifestyle[8][9]. With its iconic height, sweeping views, comprehensive facilities and Allgreen’s trusted reputation, Promenade Peak promises to be an exceptional home for affluent homeowners and a prized investment for discerning buyers.

• Tenure: 99-year Leasehold
• Developer: Allgreen Properties Ltd (Valerian Residential Pte. Ltd.)
• No. of Storeys: 63 (≈240 m tall, Singapore’s tallest PPVC residential tower)[1][2]
• Land Area: ~99,953 sq ft (≈9,285 sq m)
• Designed by: DCA Architects (award-winning architectural firm)
• Total Units: 596 luxury residences[3]
• Location: 1 Zion Promenade, District 3 (River Valley enclave, near Great World City)[4]
• Completion Date: Estimated 2029 (TOP in 2029)[5][6]
• Developer Introduction: Allgreen Properties is one of Singapore’s largest and most reputable property developers, renowned for quality projects (its portfolio includes Great World City and various award-winning developments)[7].

An artist’s impression of Promenade Peak, a 63-storey luxury condo rising above the Singapore River with stunning skyline views and contemporary design (Image credit: Allgreen Properties).[10][11]

WHAT MAKES PROMENADE PEAK AN IDEAL HOME?

Promenade Peak offers a rare combination of height, luxury, and location that sets it apart as an ideal home in Singapore’s prime central region. Firstly, its iconic 63-storey stature not only makes it Singapore’s tallest purely residential tower, but also means residents enjoy unparalleled 360° views of the city. From high floors, one can gaze at the tranquil Singapore River below, the glittering Marina Bay skyline, the bustling Orchard Road cityscape, and even the distant greens of Bukit Timah and the sea toward Sentosa Island[11]. Waking up to these panoramic sights or relaxing in the evenings with the city’s twinkling lights as a backdrop defines the “skyline living Singapore” experience that Promenade Peak embodies.

Beyond the views, Promenade Peak’s location and connectivity make daily living extraordinarily convenient. Situated at 1 Zion Promenade next to River Valley, it is within a 2-4 minute stroll of both Great World and Havelock MRT stations on the Thomson-East Coast Line (TEL)[4]. This puts Orchard Road, Marina Bay and the CBD just a couple of MRT stops away, and also provides easy links to other MRT lines (via Outram Park interchange two stops down)[12]. For drivers, the condo is near major arteries like Havelock Road and expressways such as the CTE and AYE, making the CBD reachable in under 10 minutes and Orchard in 5 minutes[13][14]. Despite this connectivity, the immediate surroundings retain a serene charm – fronting the peaceful Singapore River promenade and adjacent to lush parks and greenery. This unique balance of urban connectivity with a riverside, greenery-fringed environment creates a wellness-driven living atmosphere that is hard to find in city developments.

Another factor that makes Promenade Peak ideal is its comprehensive suite of lifestyle facilities and wellness amenities designed for residents’ holistic well-being. The condominium features four distinct facility zones across different elevations: the Grand Promenade on the ground level is an oasis of greenery and water features with a 50m lap pool, hydrospa, kids’ play areas, BBQ pavilions, a pickleball court, and even a treetop walk trail[15][16]. Mid-way up on the 22nd floor, the Social Peak sky garden offers co-working pods, a leisure lounge, cabanas and hanging hammocks amid a landscaped hanging garden – perfect for relaxing or socialising while enjoying city views[17]. Higher up on the 43rd floor, the Wellness Peak is a dedicated fitness haven with an outdoor arena, full gym, boxing corner and cross-training zones to cater to health enthusiasts[18]. Crowning the building, the rooftop Sky Peak features Singapore’s highest infinity pool for a purely residential development[19] – a dramatic 20m infinity-edge pool where you can literally swim among the clouds – along with a Sky Champagne Pool, sky lounge and a private function room, all offering unrivalled skyline views[20]. These thoughtful facilities, spread across multiple levels, mean residents have ample spaces to unwind, keep fit, and entertain guests without leaving the building.

Lastly, the pedigree of Allgreen Properties as the developer adds to the project’s appeal and assurance of quality. Allgreen’s strong track record (developing iconic projects like Great World City and many luxury condos)[7] and its deep familiarity with this neighborhood (having built earlier condos in the River Valley area over decades)[21] give buyers confidence that Promenade Peak will be built to the highest standards and thoughtfully integrated into the locale. In short, Promenade Peak’s towering luxury, prime location, seamless connectivity, panoramic vistas, and rich lifestyle offerings collectively make it an ideal home for those seeking the very best of urban living in Singapore.

CONNECTIVITY

One of Promenade Peak’s strongest selling points is its superb connectivity, which ensures that residents are exceptionally well-connected to transport links and key destinations across Singapore. Public transit access is outstanding – the development is literally across the street (approximately a 2-minute walk) from Havelock MRT Station on the Thomson–East Coast Line[22], and also a short 4-minute walk to Great World MRT Station on the same TEL line[4]. With Great World station so close by, a train ride of just one stop lands you at Orchard (Singapore’s prime shopping belt), and two stops take you to Outram Park, an interchange connecting to the East-West and North-East MRT lines[12]. This means residents can easily reach the CBD, Marina Bay, and other parts of the island via a quick, direct MRT journey – a huge convenience for both working professionals and those out for leisure[12]. Recognizing the importance of seamless last-mile connectivity, Allgreen even plans to build a covered linkway connecting Promenade Peak to Great World MRT and Mall, so residents will have sheltered, all-weather access to transport and shopping[23][24].

For those who drive, Promenade Peak’s central location offers equally excellent road connectivity. The development is close to major arterial roads like Havelock Road and Zion Road, which link directly to the Central Expressway (CTE) – putting the Central Business District and Marina Bay within a 8–10 minute drive[25][12]. It’s also convenient to reach the Ayer Rajah Expressway (AYE), providing a quick route to Singapore’s western regions. Getting to Orchard Road by car is a breeze – just a 5-minute drive via Paterson Road or Zion Road will bring you to the heart of Orchard’s malls[25]. Despite being so close to downtown, residents enjoy straightforward access in and out of the area without the congestion typically associated with city living.

Havelock MRT station (Thomson–East Coast Line) is just steps from Promenade Peak, offering direct train connectivity to Orchard, Marina Bay, the CBD and more.[26][27]

Connectivity is further enhanced by a plethora of bus services and pedestrian options. A bus stop (“Aft Blk 87”) is located right at the doorstep of the development on Zion Road, served by multiple routes (5, 16, 75, 175, 195, 970, etc.) that directly link to downtown, Tiong Bahru, Bukit Merah and other neighborhoods[13]. This gives residents flexible public transport choices beyond the MRT – whether it’s a quick bus ride to the office or a weekend trip to nearby eateries. For cyclists or joggers, the Alexandra Park Connector along the Singapore River provides a scenic route running past Promenade Peak, connecting towards Robertson Quay and eventually Marina Bay. On foot, the property’s city-fringe location means one can walk to many amenities – from daily groceries at Great World City to cafes in Robertson Quay – without needing any transport at all. All told, whether by train, road, or foot, Promenade Peak’s residents will find the entire city extremely accessible, underscoring the development’s appeal as a well-connected urban residence.

EDUCATIONAL INSTITUTIONS

For families with children or investors targeting the rental market, Promenade Peak’s location offers access to a range of reputable schools and educational institutions – a key factor in sustaining property demand and value. Notably, the condominium is within 1km of River Valley Primary School, one of Singapore’s most sought-after primary schools[28]. Being within this prized enrollment distance gives residents a significant advantage in admission priority to a top public school that is known for its academic excellence and central location (a rare and valuable benefit in the city)[28]. In addition, Alexandra Primary School is in the vicinity (just beyond 1km) for another nearby option. For older children, several well-regarded secondary schools are a short distance away, including Crescent Girls’ School, Gan Eng Seng School, and Outram Secondary School, all of which have long histories and good reputations in the local community[29]. These schools can be reached within a few minutes’ drive or via public transport, making the school commute convenient for teenagers.

The area is also home to multiple international schools and enrichment institutions, catering to the expatriate community and offering alternative curricula. Within a short radius are centers like EtonHouse International School (Outram), Dynamics International School, Knightsbridge House International School, and Furen International School, among others[30]. This diversity of educational offerings means expatriate families renting or buying in Promenade Peak have options for their children’s education close by, which enhances the property’s appeal to international buyers and tenants. Furthermore, being near Singapore’s city center means tertiary institutions and special-category schools are easily accessible: for instance, Singapore Management University (SMU), Lasalle College of the Arts, and School of the Arts (SOTA) are all within a short commute (approximately 10–15 minutes away in the Bras Basah/Dhoby Ghaut area)[31]. Even institutes like National University of Singapore (NUS) or INSEAD are directly accessible via the nearby MRT lines or a brief drive.

In summary, Promenade Peak is well-positioned near a wide spectrum of educational institutions – from elite primary and secondary schools to international schools and universities. This makes it an attractive long-term home for families intent on quality education for their children, and it bolsters rental demand among expatriate families. The presence of these schools underscores the development’s suitability as a family-friendly residence in the heart of the city.

SHOPPING MALLS

Living at Promenade Peak means having a wealth of shopping, retail, and entertainment options virtually at your doorstep. Shopping malls abound in the vicinity, offering everything from daily conveniences to luxury boutiques, ensuring residents enjoy utmost convenience and a vibrant lifestyle.

To begin with, the Great World City mall is the nearest and most significant retail hub – located only about 200 meters away, literally a 5-minute walk from the condo[32]. Great World City is a large integrated mall that has just undergone extensive refurbishment, now boasting over 400,000 sq ft of retail space with an array of shops, a Cold Storage supermarket, food courts, restaurants, cinemas, fitness centers and services to cater to all needs. Whether it’s grocery shopping, catching a movie, banking, or indulging in some fashion retail therapy, Great World has it all under one roof. The convenience of having such a comprehensive mall next door means residents of Promenade Peak can easily run daily errands or enjoy leisure shopping and dining without traveling far. Additionally, Great World’s upcoming direct MRT link (Great World Station) further cements it as a critical amenity – Promenade Peak residents will have a fully sheltered path from home to mall to MRT, a boon on rainy days[33].

Just a short walk further down River Valley Road brings you to Valley Point, a cozy neighborhood mall that houses a FairPrice Finest supermarket, cafes (including Starbucks), eateries, clinics and a few retail outlets. It’s a convenient spot for quick grocery runs or a casual meal, and its proximity (around 10 minutes’ walk) adds to the choices for residents.

Of course, living near River Valley also means Orchard Road – Singapore’s famous shopping belt – is incredibly close. In fact, Promenade Peak is only a 5-minute drive or one MRT stop away from the Ion Orchard–Ngee Ann City stretch of Orchard Road[14]. This opens up a world of high-end boutiques, flagship stores, mega-malls and fine dining options to residents whenever they desire a more cosmopolitan shopping experience. Being so near to Orchard means easy access to malls like ION, Paragon, Takashimaya, and Mandarin Gallery, which collectively offer luxury brands, department stores and endless entertainment. Yet, unlike living directly along Orchard (which can be busy and noisy), Promenade Peak offers the advantage of a tranquil home base by the river while Orchard’s excitement is just around the corner.

The newly revamped Great World mall (just 200m from Promenade Peak) offers extensive retail, dining, and entertainment options – a one-stop lifestyle destination for residents.

Within the immediate vicinity, there are also other retail pockets and lifestyle clusters that enrich residents’ options. Tiong Bahru Plaza at the nearby Tiong Bahru estate (about 5 minutes drive or one MRT stop on the East-West Line from Outram) is another convenient mall, featuring supermarkets, bookstores (Popular), fashion stores and a cinema – catering well to family-oriented shopping needs. Additionally, the eclectic Tiong Bahru neighborhood is known for its indie boutiques, design stores, and hip cafes, giving a different flavor of shopping (more artisanal and local) beyond the big malls.

For day-to-day necessities, aside from Great World’s Cold Storage and Valley Point’s FairPrice, there are also smaller grocery stores and specialty markets dotted around River Valley (including a CS Fresh gourmet market at Great World, and various convenience stores along Zion Road).

In summary, Promenade Peak residents will be spoilt for choice when it comes to shopping and retail therapy. From the full-fledged mall experience at Great World City and Orchard Road’s glitz, to neighborhood conveniences at Valley Point and the charm of Tiong Bahru’s shops, every retail desire can be fulfilled within minutes. This makes the location incredibly attractive for those who value a vibrant, convenient urban lifestyle.

LEISURE OPTIONS

Promenade Peak’s coveted location doesn’t just provide urban conveniences – it also opens up a range of leisure and recreational options that enrich the lifestyle of its residents. Despite being city-fringe, the area is blessed with green spaces, outdoor activities, and cultural hubs, ensuring that leisure time can be as active or relaxing as one wishes.

For nature lovers and fitness enthusiasts, there are several parks and outdoor spots nearby. Tiong Bahru Park, for example, is only about 1 km away – a pleasant neighborhood park ideal for morning jogs, strolls or bringing young children to the playground[34]. It offers jogging paths under shady mature trees and a quirky train-themed playground that is quite popular with families. A bit further, residents can reach Pearl’s Hill City Park (near Outram) and Fort Canning Park, both historic green oases where one can enjoy hilltop greenery and heritage trails[34][35]. Fort Canning Park, in particular, is just a few minutes’ drive across the river and is a venue for outdoor concerts, art installations, and gentle hiking trails – a great place to unwind amid nature despite being in the city. For even more expansive greenery, the Singapore Botanic Gardens (a UNESCO World Heritage site) is about a 10-minute drive away, offering lush botanical landscapes and picnic spots for weekend family outings[35]. These options mean that residents who crave outdoor leisure and exercise have plenty of choices close to home.

Another key leisure aspect of this location is the Singapore River itself. Promenade Peak sits along the historic Singapore River, and a riverfront promenade runs right past the development. This scenic promenade connects all the way from Robertson Quay to Clarke Quay and Boat Quay, forming a continuous riverside walking and cycling path. Residents can easily take an evening stroll or jog along the waterfront, enjoying the calm views of the river with occasional riverboats cruising by. Robertson Quay, just a short walk upstream, is a sophisticated lifestyle enclave with art galleries, alfresco cafes, wine bars, and boutique gyms/yoga studios – perfect for a leisurely brunch by the water or a quiet riverside dinner. In the other direction, a 15-20 minute walk (or quick MRT ride) brings you to Clarke Quay, famed for its vibrant nightlife, live music venues and riverside dining. Clarke Quay’s colorful scene of pubs and clubs provides ample entertainment for nights out, while in the daytime one can also visit Clarke Quay Central Mall or even continue to Boat Quay and the Asian Civilisations Museum for a dose of culture. All of these are connected via the picturesque river promenade, meaning one could literally walk or cycle from home to these leisure hotspots without dealing with traffic.

For families and those interested in arts and culture, Promenade Peak’s central location means museums, theaters, and cultural centers are within easy reach too. The Civic District (Bras Basah area) housing the National Museum, National Gallery, Esplanade Theaters, etc., is only a short drive or a few MRT stops away, offering a plethora of weekend enrichment possibilities – from art exhibitions to concerts and festivals. Even closer to home, Tiong Bahru estate itself is known for its culture – it houses the famed Tiong Bahru Market (for a local wet market experience) and independent bookshops and art murals that give it an artsy vibe.

In essence, Promenade Peak allows residents to enjoy an active and rich leisure lifestyle. Whether it’s jogging under the trees, cycling by the river, sipping coffee at a riverside café, exploring heritage at Fort Canning, or dancing the night away at Clarke Quay, everything is accessible within minutes. The blend of green retreats and urban entertainment options around Promenade Peak ensures that leisure time is never dull – there’s always something to do for every age and interest, reinforcing the development’s appeal as a place to live, work and play.

DINER’S DELIGHT

Foodies will revel in the sheer variety of dining options surrounding Promenade Peak – from famous local hawker fare to upscale international cuisine, the locale offers a true gastronomic paradise. Singapore is known for its food culture, and the River Valley area is no exception, boasting an abundance of eateries that cater to every palate.

One of the highlights is the proximity to beloved hawker centres, where residents can savor authentic local flavors at any time. Right next to Great World City and a stone’s throw from Promenade Peak is the Zion Riverside Food Centre (also referred to as Zion Road Food Centre). This is a popular hawker center famously known for iconic stalls – such as the char kway teow stall that many claim is among the best in Singapore, and other delights like braised duck rice and local desserts. Having this hawker centre practically at your doorstep means weekend breakfasts of kaya toast and kopi, or late-night suppers of fried noodles and satay, are easily within reach. Just a short 5-minute walk further is the Havelock Road Cooked Food Centre (at Bukit Ho Swee), another local gem about 500m away[36]. Here, you’ll find the renowned Guang Fa laksa stall, where people queue for a bowl of rich laksa with cockles – it’s noted for drawing the longest line in the food centre[37]. Such hawker centers offer residents an affordable and delicious way to enjoy Singapore’s multicultural street food, from Malay nasi lemak to Chinese noodles and Indian roti prata, all in a casual setting.

The nearby Havelock Road Food Centre is a haven for local hawker delights – from the famous laksa to satay and stir-fried noodles – offering residents a daily taste of Singapore’s vibrant food culture.[37]

Beyond hawkers, the area is dotted with cafés, bistros, and bakeries that add to the culinary charm. In the Tiong Bahru neighborhood, a short walk or drive away, one can find trendy cafes like Tiong Bahru Bakery, Forty Hands, and Plain Vanilla – perfect for brunch or coffee meet-ups. Tiong Bahru’s charming streets are lined with artisanal bakeries, boutique ice-cream parlors, and hip eateries that have made it a destination for café-hoppers. Along River Valley Road itself, numerous eateries and gourmet grocers serve the community – from well-loved casual spots like Boon Tong Kee (for chicken rice) to international offerings (Japanese, Italian, etc.) at Valley Point and Great World.

For finer dining or a romantic night out, Robertson Quay offers an array of upscale restaurants and wine bars along the river – cuisines span from Italian trattorias and Japanese izakayas to French bistros and modern Australian eateries, many with alfresco riverside seating. It’s a delightful experience to dine by the water in the evenings, with the gentle glow of the city as a backdrop. In addition, Clarke Quay (a quick ride away) has numerous thematic restaurants, pubs, and clubs – one can have dinner at a riverside steakhouse or seafood restaurant, then enjoy live music and cocktails afterwards, all in one locale.

Furthermore, living near Great World City means a variety of dining outlets in the mall are at your service – whether it’s grabbing a quick bite at the food court, enjoying family dinners at restaurants like Imperial Treasure or Din Tai Fung, or relaxing at coffee joints. Great World’s dining directory ranges from fast casual to high-end Chinese cuisine, ensuring options for every occasion.

Even the Orchard Road district, just minutes away, vastly expands the dining repertoire – from celebrity chef restaurants in hotels to popular buffet spots and high tea venues. And in the other direction, a short drive brings you to Dempsey Hill, a unique dining & lifestyle enclave known for its lush setting and cluster of gourmet restaurants, bars and boutique eateries (as mentioned, Dempsey’s additional F&B options were highlighted for residents of this area)[38].

In essence, Promenade Peak’s residents can eat their way around the world without traveling far from home. Whether one craves local hawker comfort food, casual café fare, or exquisite fine dining, the immediate vicinity provides it all. This culinary abundance greatly enhances the living experience – making every meal an opportunity, and cementing the area’s status as a food haven that will delight even the most adventurous eaters.

TENURE

99-Year Leasehold

Promenade Peak is a 99-year leasehold development, with the lease commencing from November 2024[39]. In Singapore’s property landscape, a 99-year leasehold tenure is the standard for most new private condominiums, especially those on government land sale sites in prime locations (as is the case for Promenade Peak’s Zion Road site). This means that the land and the condominium units are leased from the state for 99 years, after which the lease can potentially be extended or the land returned to the government. For home buyers, a brand-new 99-year lease essentially provides decades of usage (well beyond a typical homeowner’s horizon or even their next generation’s ownership). In practical terms, purchasing a new 99-year leasehold property like Promenade Peak is very similar to freehold ownership in the initial many decades – owners have the rights to sell, rent out, and renovate their units, and the property’s value typically appreciates over the first several decades of its life. Buyers can be assured that a 99-year lease starting in 2024 will last until 2123, which is effectively nearly a century of home enjoyment and investment horizon.

One advantage of a 99-year leasehold in a new launch is that everything – from the building structure to facilities – is brand new and built to contemporary standards. Promenade Peak, for instance, is constructed with modern methods (PPVC technology) and comes with a slew of state-of-the-art amenities and smart home features. Often, leasehold condos are part of large-scale developments with more units and facilities, which can keep maintenance fees reasonable thanks to economies of scale. The initial purchase price of leasehold properties is generally lower than comparable freehold properties in the same area, making them more attainable for buyers who desire a prime location without paying a prohibitive premium for freehold status. This lower entry price does not necessarily equate to lesser value – in fact, it often translates to better investment yield as discussed below.

99-Years Leasehold Properties are in High Demand

Despite some perception that freehold is the gold standard, 99-year leasehold properties in Singapore have been enjoying very high demand, especially when they are situated in good locations or offer unique features. In recent years, market trends show that homebuyers prioritize factors such as location, connectivity, and project facilities over the tenure, given that 99 years is already a very long time frame. For example, many new launch condos in prime districts (including District 3 where Promenade Peak is located) that are leasehold have seen overwhelming response during sales launches, often selling a majority of units within days. Buyers are drawn to these projects because they tend to be near MRT stations, top schools, or commercial hubs – attributes that Promenade Peak clearly possesses (being near multiple MRTs and the city center)[4][28].

Another indicator of the high demand for leasehold condos is their resale performance and capital appreciation. Across Singapore, leasehold condominiums near MRT lines have shown strong resale gains, sometimes even outpacing freehold counterparts. According to an analysis reported by The Straits Times, leasehold condos (typically 99-year tenure) that are close to MRT stations have been seeing rising resale profits, as buyers “prioritise location” and connectivity when making purchasing decisions[40]. This reflects a shrinking gap in investment performance between leasehold and freehold properties in the city-state. Moreover, leasehold developments often come with modern designs and comprehensive facilities that older freehold properties might lack, further driving their desirability. In the luxury segment, a number of high-profile 99-year condos (for instance, in the Marina Bay or Orchard Boulevard area) have achieved record prices, underlining that high-end buyers are willing to invest in leasehold properties if the development is iconic and well-located – which is very much the case for Promenade Peak.

From an investment perspective, the rental demand for well-positioned leasehold condos is robust. Tenants, be they expatriates or locals, typically focus on convenience and lifestyle, not the tenure of the property. Promenade Peak’s blend of luxury, connectivity, and proximity to amenities will likely make it highly attractive to renters, ensuring strong occupancy and rental yields. This inherent demand further solidifies why 99-year leasehold homes like this are in such high demand among investors and owner-occupiers alike.

99-Years Leasehold Offers Great Value for Property Investment

Choosing a 99-year leasehold property can offer great value for investors, as it often allows entry into a prime location at a lower quantum compared to similar freehold properties, thereby potentially yielding higher percentage returns. Promenade Peak is a prime example where the value proposition is evident: it offers a coveted riverfront location in the Core Central Region (CCR) and is a landmark project with state-of-the-art features, yet its leasehold status likely means its price (on a per-square-foot basis) is more palatable than an equivalent freehold new launch in the same vicinity. Investors can capitalize on this price differential. Essentially, one pays less upfront for the land tenure, but still enjoys the rental and resale returns driven by the location and quality of the development.

Historically, many 99-year leasehold condos in Singapore have demonstrated strong capital appreciation in their first 10-20 years, often closing the gap with freehold properties in terms of percentage gain. The key driver is demand – as long as the property is desirable (due to location, design, developer reputation), its tenure has a minimal dampening effect in the medium term. In the context of Promenade Peak, its unique status as the tallest residential tower with an infinity pool, plus the backing of Allgreen, and the proximity to Great World MRT and amenities, all point to it being a sought-after address. These factors can drive up its value over time as the surrounding area continues to develop (e.g., the ongoing rejuvenation of the Singapore River precinct and upcoming transformations in the Greater Southern Waterfront nearby). Buyers who invest early can benefit from first-mover advantage – getting in at launch prices and potentially seeing capital upside as the development nears completion and the neighborhood grows in vibrancy.

Furthermore, from a rental yield perspective, leasehold properties often achieve better yields than freehold because of the lower purchase price. The rental a tenant is willing to pay is based on location and quality, not tenure. Thus, an investor in Promenade Peak could see healthy rental returns (given the expected demand from expatriates and high-income locals who want to live near the city) relative to the purchase price. This makes for a compelling investment case.

It is also worth noting that Singapore’s government policy and land use planning ensure that leasehold properties are well-maintained over their lifespan, and there are avenues for lease extensions or en-bloc sales later in a development’s life cycle, which can mitigate concerns about the lease decay in the far future. Many savvy investors recognize that the investment horizon of most property holdings (say 5 to 20 years) is far shorter than 99 years, so the focus is on maximizing returns during the period of ownership. In this regard, a top-notch project like Promenade Peak, even as a 99-year leasehold, offers an excellent opportunity for value growth and income generation. In summary, the 99-year leasehold nature of Promenade Peak should be seen as an advantage in terms of value and affordability, without compromising on the upside and prestige that come with this extraordinary development.

DEVELOPER BACKGROUND

Promenade Peak is developed by Allgreen Properties Limited, a heavyweight in Singapore’s real estate scene with a long-standing reputation for quality and reliability. Allgreen is the property arm of the Kuok Group (led by renowned businessman Robert Kuok) and has been involved in property development since the 1980s[7]. Today, it is recognized as one of the largest property groups in Singapore, with a diversified portfolio that spans residential, commercial, and hotel properties. Some signature projects under Allgreen’s belt include flagship retail and mixed-use developments like Great World City and Tanglin Mall, which are household names in Singapore[7]. These landmarks highlight Allgreen’s capability in managing large-scale projects and creating lasting value. In the residential sector, Allgreen has developed numerous condominiums known for their superior build quality and strong take-up rates – examples range from luxury freehold projects in prime districts (such as Royalgreen and Juniper Hill in Bukit Timah) to large integrated developments like Pasir Ris 8 in the heartlands.

Allgreen’s track record is especially relevant to Promenade Peak’s location. The company has a deep heritage in the River Valley area – its very first residential project was the 288-unit Yong An Park on River Valley Road back in 1986, followed by the Regency Park condo on Nathan Road in 1987[41]. It also developed the Tiara condo next to Great World City (completed in the 1990s)[42]. Moreover, Allgreen owns and developed Great World City itself (the mall and office/residential complex) in 1997, and recently completed a major $50 million revamp of Great World that was finished in 2020[43]. This long presence in the neighborhood means Allgreen is extremely familiar with the area’s evolution, customer profile, and potential. They’ve effectively been a stakeholder in the River Valley community for decades, which speaks to their commitment and insight into making Promenade Peak a success in terms of fitting into the locale. As mentioned in their project brief, Allgreen leveraged this understanding to design Promenade Peak’s unique curved frontage along the river, even naming the address “1 Zion Promenade” to echo the prestige of their “1 Kim Seng Promenade” (Great World) address[44]. It’s clear that Allgreen is positioning Promenade Peak as the crown jewel of their residential offerings, integrating exclusivity, feng shui considerations, and lifestyle features in a way that resonates with the locale’s identity[24].

In terms of corporate reputation, Allgreen is known for its financial strength (formerly listed on the Singapore Exchange, it was privatised by the Kuok Group) and its ethos of delivering projects on time with attention to detail. Homebuyers often cite Allgreen’s developments for their high-quality finishes, thoughtful layouts, and reliable property management. The company has also won various industry awards over the years for design and construction excellence. This solid reputation provides peace of mind to buyers of Promenade Peak – they can expect top-notch delivery and long-term upkeep of the property.

Globally, Allgreen has extended its footprint through joint ventures in China and Vietnam, building a number of residential and mixed-use projects abroad[45]. However, Singapore remains its home ground where it has its most significant projects. The fact that Allgreen aggressively bid for the Zion Road Parcel B site (winning with a top bid of S$1,304 per sqf per plot ratio, totaling S$730.1 million)[46] demonstrates their confidence in this development and their commitment to invest in prime Singapore projects.

In conclusion, Allgreen’s background and expertise add immense value to Promenade Peak. Buyers can take confidence in the developer’s proven track record and its intimate knowledge of the area. Allgreen’s legacy in building iconic properties (and especially its long presence in the Great World/River Valley zone) suggests that Promenade Peak will be crafted with care, quality, and an eye for enduring value – truly living up to its billing as a crown jewel in Singapore’s residential landscape. The developer’s reputation for excellence assures that Promenade Peak will not only be an architectural landmark but also a sound investment and a cherished home for generations to come.

Sources: Official Promenade Peak press release and factsheet[3][2][47][48]; 99.co New Launch review[49][50]; PropertyGuru Singapore insights[10][7]; Allgreen Properties corporate profile[7]; Dominic Choa, The Business Times (River Valley projects preview)[40].

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https://www.propertyguru.com.sg/listing/for-sale-promenade-peak-60049427

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https://www.propertyguru.com.sg/property-guides/unveiling-the-crown-jewel-of-residential-collection-promenade-peak-opens-for-preview-96802

[5] Promenade Peak – Price, Reviews & Availability (2025)

https://www.propertyguru.com.sg/project/promenade-peak-25981

[7] [45] Allgreen Properties | The Kuok Group

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[13] [15] [22] [25] [26] [29] [30] [31] [32] [34] [36] [37] [46] [49] [50] Promenade Peak Condo New Launch – in Alexandra / Commonwealth | Prices, Reviews & Property

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[39] Promenade Peak Condo, Zion Promenade, D03 – Alexandra / Commonwealth, Singapore – Virtual Tours, Price List, Floor Plans, Brochure & Latest Updates

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[40] Investors — keep River Valley firmly on your radar. | Dominic Choa

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