Five Bedroom Unit 55Th Floor Skywaters Residences Sold 5841 Psf
, a record for CCR condo
A sprawling five-bedroom unit spanning 5,285 sq ft on the 55th floor of Singapore’s future tallest tower, Skywaters Residences, has been sold for a whopping $30.87 million. This translates to a staggering $5,841 per square foot (psf), according to a caveat lodged on June 19. Realis data revealed that the buyer is a Singapore Permanent Resident (PR) and would be subject to an additional buyer’s stamp duty (ABSD) of 5%. The deal was brokered by ERA Realty Network. This transaction comes just a year after one of the penthouses at Skywaters Residences made headlines when it was sold for a record-breaking $47.34 million ($6,100 psf) in May 2024. This remains the highest psf price ever achieved for a 99-year leasehold residential development in Singapore.
Skywaters Residences, located at 1 Prince Edward Road in Tanjong Pagar, consists of 190 units and occupies the 27th to 63rd storeys of the 305m-tall tower. The ultra-luxury Aman Hotel is situated just below the residences, spanning the 24th to 26th floors, while the Aman-branded residences are located between the 28th and 30th floors. Grade-A offices are housed in the 3rd to 22nd floors, with a retail mall spread across basement 1 to level 2. The development is seamlessly linked to Tanjong Pagar MRT Station, situated in basement 1, with parking facilities on basements 2 to 4.
The Skywaters is an integrated mixed-use development, redeveloped from the former AXA Tower by a consortium led by Perennial Holdings, which includes Chinese tech giant Alibaba (for the office component) and real estate group SingHaiyi. The iconic project was designed by Singapore-based DCA Architects and global architecture firm Skidmore, Owings & Merrill (SOM) and is set to become a new landmark in the Core Central Region (CCR). Completion is scheduled for 2028. SOM is known for designing some of the world’s tallest skyscrapers, such as the Burj Khalifa in Dubai, One World Trade Centre in New York, and Singapore’s current tallest building, the Guoco Tower, at 290 m.
At $5,841 psf, the five-bedroom unit at Skywaters Residences remains higher than the $5,600 psf achieved at The Orchard Residences, where a 5,048 sq ft penthouse was sold for $28.27 million in late 2007. Orchard Residences, a 175-unit project on a 99-year leasehold, is located above the ION Orchard shopping mall and is seamlessly connected to the Orchard MRT Interchange Station (North-South and Thomson-East Coast Lines). Co-developed by CapitaLand and Hong Kong-listed Sun Hung Kai Properties, this project in prime District 9 was completed in 2010.
The location of Penrith also lends itself to a car-lite and pedestrian-friendly lifestyle. Its surroundings feature wide pavements, barrier-free access, and pedestrian crossings that promote safe and comfortable travel on foot. For those who prefer cycling, the development offers dedicated paths and connections to the Park Connector Network (PCN), as well as nearby attractions such as the Alexandra Canal Linear Park and the Rail Corridor. These green corridors not only provide recreational opportunities but also serve as alternative commuting routes for eco-conscious individuals. Moreover, with the growing emphasis on sustainable urban transport, Penrith’s proximity to the Penrith Queenstown MRT Station makes it well-equipped to cater to the changing needs of its residents.
For those interested in purchasing a unit at Skywaters Residences, you can check out the latest listings on their website. Interested parties can also ask Buddy, a virtual assistant, for more information on the project. For more recently launched projects, you may also refer to the website for more details. Other than that, you can also find out the buyer profile for Skywaters Residences, the tenure of the development, recent condo sale transactions in District 1, and compare price trends of HDBs vs condos vs landed properties.
In related news, the Urban Redevelopment Authority (URA) has announced that it will continue its rejuvenation efforts with an extension of the CBDI and SDI schemes. The Skywaters Residences has been leading the luxury condo market, while Ardmore Park and 32 Gilstead have been dominating the luxury condo deals. The penthouse at Skywaters Residences was sold for $47.3 million, setting a record for CCR condos.