Introduction
In Singapore’s highly competitive property landscape, new launches that combine heritage charm, accessibility, and modern luxury stand out. Penrith by GuocoLand, set to launch along Margaret Drive in District 3, is one such highly anticipated project. Developed in partnership with Hong Leong Holdings and Hong Realty, this 99-year leasehold condominium is expected to reshape Queenstown’s skyline and provide an elevated standard of living. With its VVIP preview scheduled for October 2025, Penrith is already drawing attention from both investors and homeowners eager to be part of this promising development.
The Strategic Appeal of Queenstown
Queenstown has long been regarded as one of Singapore’s most liveable city-fringe districts. Once Singapore’s very first satellite town, it has matured into a vibrant and well-connected residential enclave while retaining its rich heritage.
Connectivity
Penrith’s location offers seamless connectivity, with Queenstown MRT Station (East-West Line) only a short walk away. This allows residents to reach the Central Business District, Orchard Road, and Jurong East within minutes. The nearby Buona Vista Interchange connects to the Circle Line, while the AYE and CTE expressways make driving equally convenient.
Amenities and Lifestyle
The neighborhood is filled with conveniences that support modern urban living. From popular shopping destinations like Anchorpoint, IKEA Alexandra, and Queensway Shopping Centre to trendy dining hubs at Holland Village and Dempsey Hill, residents are spoilt for choice. Educational needs are well covered, with Queenstown Primary School, Crescent Girls’ School, and Gan Eng Seng Primary School nearby. For leisure, Alexandra Canal Linear Park and HortPark provide serene green escapes.
This mix of modern facilities, historic charm, and green living makes Queenstown an ideal setting for Penrith.
Project Highlights
Penrith is designed to be both modern and practical, offering about 462 residential units across one or more high-rise towers, sitting on a land parcel of approximately 102,497 sq ft. Expected completion is in 2029, giving buyers a mid-term horizon for their investment or future residence.
While official floor plans are yet to be revealed, Penrith is expected to feature a range of unit types from compact 2-bedroom apartments to larger family-oriented units, catering to diverse buyer profiles.
Anticipated Facilities
Residents can look forward to a comprehensive suite of facilities, such as:
- Infinity swimming pool and sundeck
- Gymnasium and fitness studios
- Children’s playgrounds and activity zones
- BBQ pavilions and outdoor dining spaces
- Lush landscaped gardens and sky terraces
Smart home provisions and sustainable building practices are also anticipated, aligning with modern buyer expectations.
Investment Potential
From an investment standpoint, Penrith’s prospects are strong. GuocoLand and its partners secured the land parcel for S$497 million in 2024, translating to around S$1,154 psf ppr. Launch prices are expected to start from S$2,600 psf, a competitive entry point given its prime location.
Several factors strengthen Penrith’s investment case:
- Proximity to employment hubs – including the CBD, One-North, and Alexandra Business Corridor.
- Strong rental demand – Queenstown is popular with expatriates and young professionals.
- Urban renewal plans – nearby developments under the URA Master Plan and the upcoming Greater Southern Waterfront transformation.
- Limited new supply – Queenstown has relatively few new launch sites, giving Penrith added exclusivity.
These fundamentals suggest solid capital appreciation potential and stable rental yields.
Developer Expertise
GuocoLand’s reputation as a luxury developer is well established, with landmark projects such as Midtown Modern, Martin Modern, and Meyer Mansion. Their partnership with Hong Leong Holdings and Hong Realty adds further credibility, as all three developers have delivered numerous successful projects that balance aesthetics, comfort, and long-term value.
Conclusion
With its prime city-fringe location, lifestyle amenities, and strong developer backing, Penrith at Margaret Drive is shaping up to be one of the most exciting condominium launches of 2025. Whether you are a homebuyer looking for a family-friendly residence with unmatched convenience or an investor seeking growth potential in a sought-after district, Penrith offers a compelling proposition.
The VVIP preview in October 2025 will provide the first opportunity to secure units at early-bird prices, and interest is expected to be high. For those seeking a modern home that combines connectivity, lifestyle, and investment value, Penrith is a development not to be missed.
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