Guocoland
Hong Leong
It’s been a long wait, but something big is finally happening in Queenstown. Penrith Condominium is set to launch soon, and all eyes are on it. Why? Because this is the first Government Land Sale (GLS) in this area since 2016 — and that alone makes it a headline project. Who’s Behind It? The land was snapped up in a joint venture between Hong Leong and Guocoland, two of Singapore’s most established developers. With their track record, buyers can expect a thoughtfully designed development with quality finishing.
The developer’s breakeven price works out to about $2,026 PSF per plot ratio (PPR). If they were to add a standard 20% profit margin, we’re looking at a staring price of around$2,431 PSF. But, as we know, the market and buyer sentiment will play a huge role in the final launch price. For comparison:
Given how aggressively those projects were taken up, Penrith is likely to be priced with this context in mind—competitive, but not undercutting the market.
One of the biggest draws of Penrith is its close proximity to River Valley. Buyers who missed out—or were priced out—of River Valley launches will almost certainly be looking here as a prime alternative. And let’s not forget: Queenstown is a mature estate packed with amenities, excellent schools, transport connectivity, and shopping options. Developments here have performed very well in recent years, and Penrith may be expected to ride that wave. It all comes down to -
Some buyers might be weighing between Penrith and the upcoming Zyon Grand. Here’s the key difference: Zyon Grand is a mixed-use development with commercial units. Historically, mixed developments tend to be launched at higher price points compared to pure residential projects. That makes Penrith an even more compelling option for those who prefer residential exclusivity at a potentially more attractive price. Should You Buy? If you’ve been waiting for a chance to own a property in Queenstown at a more accessible entry price, Penrith might just be the opportunity you’ve been waiting for. Want to find out if this could be the right buy for you? Just leave us a message, and we’ll walk you through the numbers.
There’s a lot to consider when it comes to a new launch like Penrith.
On launch day, we’ll provide you with a comprehensive guide: which stacks are worth shortlisting, when to walk away, and even what other projects might be better suited for your needs. We don’t push products—we help you lay out all the information clearly, so you can make the right decision with confidence. Whether you’re more visual or numbers- driven, we tailor our approach to your style.
👉Leave us a message, and let’s chart out your best move.
