PENROSE CONDOMINIUM

PENROSE CONDOMINIUM

Penrose Condominium is a beautiful and exciting new private condominium project standing proudly on the edges of Aljunied in District 14. This city-fringe condominium is planned to be launched in the middle of 2020, adding to the ever-growing property market and it is already catching lots of eyeballs. It is constructed over 174,648 sq ft (16,225 sqm) of leasehold land and the top bid for it closed at $732 psf per plot ratio, making it a very price-attractive plot of land in the Rest Of Central Region (RCR). 

Exclusively presented by two renowned development giants, the prestigious Hong Leong Holdings Limited and City Developments Limited, there is no surprise that their joint venture is one marvelous creation not to be missed. This is a groundbreaking project that will set a new benchmark for the standard of luxury living for those in Singapore, skilfully combining breathtaking architecture with unmatched convenience. The result is a gorgeous, comfortable home that offers easy access to transport options, connectivity and amenities.

PROJECT DETAILS

LOCATION

DEVELOPER

Why Penrose Condominium?

❇️ Mins walk to Aljunied MRT Station

🚇🚶🏻‍♂️Est 560 units City-fringe Development that Guarantee Unmatched Convenience

🚗🚏Well connected by the KPE, PIE & Central Business District and Orchard Road shopping belt and one MRT stop away to Paya Lebar MRT and Paya Lebar Central

🏪🍻 Close to many Eateries & Cool Chil-out Spots – Sims Vista, Circuit Rd, Geyland Bahru, Upper Boon Keng, Old Airport Rd Mkt & Food Centre, etc

🏢👨‍👩‍👧‍👦 Shopping Centres nearby – KINEX Mall, City Plaza, Paya Lebar Square, Raffles City Shopping Centre, Suntec City, Orchard Road, etc

🏫👨🏻‍🎓Good Schools nearby – Geylang Methodist Pri & Secondary, Canossa Convent Pri, Macpherson Pri & Secondary, Cedar Pri, Kong Hwa School, Broadrick Secondary, etc

📅 Expected Launch May/June 2020

Penrose Condominium offers a total of 566 spacious units in multiple 17-18 storey tall buildings. Spanning 1 to 4 bedrooms in size, this range would suit any type of family nucleus and meet a dynamic range of requirements. Each unit is tastefully built and designed such that all residents will enjoy an equal gold standard of living. They are also equipped with the latest smart home technology and boast branded appliances to welcome their new owners.

Needless to say, Penrose Condominium’s facilities live up to the establishment’s reputable name and are top-notch. The strategically placed gym overlooks the gleaming, 50m long lap pool, so users would be treated with a lovely, relaxing view while getting their daily workout. Events such as birthday parties and baby showers can be held in the spacious function hall which is large enough to accommodate huge crowds in style. This is indeed an ideal gathering space for family and friends to have fun and celebrate, creating precious memories with each other. The kid’s pool and playgrounds are guaranteed to amuse and entertain children for hours. Other features include round the clock security surveillance, guardhouse, clubhouse, tennis court, sun-deck and BBQ pits.

WHERE SPACE IS TRULY A LUXURY

On top of the full and excellent facilities at Penrose Condominium, it also offers the epitome of convenience. Aljunied MRT Station is only 500 meters’ away, which translates into a 6 minutes’ walk. Numerous shops and services flank the property – a leisurely stroll easily fulfills every daily need. Food lovers will find paradise along the famous Geylang road which is in its immediate vicinity. With most stores operating until late, unquenched supper pangs will soon be a thing of the past. Shopping malls chocked-full of different amenities such as Paya Lebar Quarters, Paya Lebar Square and Singpost Centre are just 1 MRT station away, at Paya Lebar MRT Station. A selection of acclaimed schools such as Geylang Methodist Primary and Secondary School, Canossa Catholic Primary School, Cedar Primary School, Kong Hwa Primary School, James Cook University and Nexus International School are nearby as well.

The location of Penrose Condominium supports a holistic and healthy lifestyle, being adjacent to many recreational parks and sports centers. If the gym does not suffice and cannot substitute exercising in the great outdoors, there are options aplenty for the latter, including the Kallang River for water-based activities.

A DESIGN COMPOSITION ECHOING NATURE’S WONDER

Although the Geylang neighborhood may have been synonymous with sleaziness and nightlife, its connotation has been slowly evolving into one of a sought after residential area, given that it is only 2.5km away from the bustling Bugis Junction and a short drive from the city. A colossal $2.2 billion budget has been set aside for this grand scheme which aims to transform and revamp the town while preserving its colorful heritage. This transition would invariably escalate the price of Penrose Condominium exponentially, thus it would be a very good investment consideration.

Penrose Condominium is a glorious ensemble of comfort, glamour, practicality and liveliness like no other.

 

Attractive Entry Price

The site was successfully bidded via Government and Sales (GLS) in Mar 2019 for S$383.5 million.  This works out to a cost of $732 psf per plot ratio which is extremently attractive considering its location at city fringe and part of the Rest Of Central Region (RCR).

Key Highlights

Most Affordable Entry Price for Buyers in 2020
Definitely One of the Best Selling Project in 2020

Aspiring homeowners may now view and download Penrose Floor Plan .

PENROSE CONDOMINIUM PROJECT DETAILS

PROJECT NAME PENROSE
STATUS CONDOMINIUM(FOREIGNERS ARE ELIGIBLE TO APPLY
ADDRESS 20 Sims Drive, Singapore 3
DISTRICT 14
DESCRIPTION Residential Condominium with facilities along Sims Drive
SITE AREA 16,225.2 m² ( 174,648 sq ft)
FLOOR AREA 48,675.6 m²
PLOT RATIO 3
DEVELOPER CDL & HONG LEONG
T.O.P. DATE TBA

PENROSE CONDOMINIUM PROJECT DETAILS

PROJECT NAME PENROSE
STATUS CONDOMINIUM(FOREIGNERS ARE ELIGIBLE TO APPLY
ADDRESS 20 Sims Drive, Singapore 3
DISTRICT 14
DESCRIPTION Residential Condominium with facilities along Sims Drive
SITE AREA 16,225.2 m² ( 174,648 sq ft)
FLOOR AREA 48,675.6 m²
PLOT RATIO 3
DEVELOPER CDL & HONG LEONG
T.O.P. DATE TBA

PENROSE CONDOMINIUM LOCATION

Why are so many people eyeing this condo? Other than looking absolutely magnificent, it is rooted in the heart of many amenities and public transport points.

Shopping

The streets of Aljunied and Geylang are rampant with unique shops selling quirky, often cheap wares. Most of the time, screening through the stock can reveal hidden gems priced at a steal. For more upscale purchases, residents can head to Paya Lebar Quarters, Paya Lebar Square and Singpost Centre which are brimming with an entire spectrum of lifestyle and retail choices. Whether it is clothing, novelty things, makeup, health products, jewelry, utility items or anything else, they can be easily sourced from the above mentioned malls. To expand on this, the Urban Redevelopment Authority of Singapore has recently announced that plans to restore the nearby Paya Lebar area are underway. Hence, it implies that there will be yet another series of new shopping centers that would be built soon. With such a sizable array of pickings at hand, there is no need for the hassle to enjoy a good life.

Connectivity

One of the key pointers in identifying a highly-valued home is if it is close by a MRT Station, and Aljunied MRT Station is just 500m away from Penrose Condominium. In slightly over 5 minutes by foot, residents can be swiftly connected to the rest of the island. Surrounding Penrose Condominium is a plethora of schools, malls, restaurants, bars, markets, clinics, parks and sports centers. To get to the main city center, all it takes is a brisk car ride or several MRT stops. Additionally, there are also numerous bus stops, if that mode of traveling is preferred.

Penrose Condominium is also in close proximity to major expressways. First, it is only a minute’s drive to the Pan Island Expressway (PIE) which links to the Kallang-Paya-Lebar-Expressway (KPE) which further connects to the Marina Coast Expressway (MCE) and East Coast Parkway (ECP). It is also a 9 minutes drive to the Central Expressway (CTE). Thus, residents at the Penrose Condominium will enjoy convenient accessibility throughout Singapore.

One of the key pointers in identifying a highly-valued home is if it is close by a MRT Station, and Aljunied MRT Station is just 500m away from Penrose Condominium. In slightly over 5 minutes by foot, residents can be swiftly connected to the rest of the island. Surrounding Penrose Condominium is a plethora of schools, malls, restaurants, bars, markets, clinics, parks and sports centers. To get to the main city center, all it takes is a brisk car ride or several MRT stops. Additionally, there are also numerous bus stops, if that mode of traveling is preferred.

Penrose Condominium is also in close proximity to major expressways. First, it is only a minute’s drive to the Pan Island Expressway (PIE) which links to the Kallang-Paya-Lebar-Expressway (KPE) which further connects to the Marina Coast Expressway (MCE) and East Coast Parkway (ECP). It is also a 9 minutes drive to the Central Expressway (CTE). Thus, residents at the Penrose Condominium will enjoy convenient accessibility throughout Singapore.

Parks & Recreation

Penrose Condominium encourages its residents to go outside and get some sun. For recreational activities, those staying in the property can opt to go to the Singapore Sports Hub, Kallang Riverside Park, Kampong Glam Park, Geylang Sports and Recreational Centre, Kallang ActiveSG Netball Centre, Singapore Badminton Hall or Stadium Skatepark. The Kallang River, positioned beside the Kallang Riverside park, is perfect for water activities like Dragon Boating. With this extensive selection at hand, there is no excuse to live in a sedentary manner and not keep fit.

 

Schools

Families with growing children will be elated to know that District 14 offers comprehensive education institutions ranging from that of Primary to University level. These are Geylang Methodist Secondary School, Macpherson Primary School, Canossa Convent Primary, Bendemeer Primary School, Cedar Primary School, Kong Hwa School, Nexus International School and James Cook University. Staying so close to the schools is beneficial to students as they can save on traveling time and cost, granting them more time to study and rest. This is something your kids will appreciate, given that the syllabus nowadays can be stressful and demanding.

PENROSE CONDOMINIUM DEVELOPER

For many who have been searching for new condominiums in District 14, the wait is finally over.  In March 2019, Hong Leong Holdings Limited and City Development Limited jointly outbid other developers to secure a prized land parcel along Sims Drive where the new Penrose condominium development will be located.  The Penrose developer paid $383.5m for a large plot of 174,648 square feet which works out to be $732 psf ppr.  Given the scarcity of land in District 14 and the major transformation that has already begun in the vicinity such as Paya Lebar Square, Penrose offers great benefits and potentials for its future residents.  District 14 is uniquely situated right at the city fringe and it offers a short commute to the city and the Central Business District.  One of the key benefits that attracted the Penrose developer is the location’s connectivity and accessibility to every part of Singapore.  Located close to two major expressways, Kallang-Paya Lebar Expressway (KPE) and Pan-Island Expressway (PIE), future home owners can look forward to time-saving commute to the western, northern and southern parts of Singapore.  Travel to the Central Business District and Orchard Road is only a 15-minute drive while Aljunied MRT is just minutes walk for residents of Penrose.  Besides connectivity,  Penrose developer highly valued this site as it is located at the city fringe yet without the price tag of properties in the core central region.

Hong Leong Holdings Limited

Penrose Developer, Hong Leong Holdings Limited, is the property development and investment business arm of Hong Leong Group.  Established in 1968, Hong Leong boasts an enviable track record of over 50 years in property development with close to 100 property projects in its portfolio.  The Hong Leong Group is one of Singapore’s largest private-sector conglomerates, with globally diversified businesses in property investment and development, hotel ownership and management, financial services and trading businesses.  To date, Hong Leong Group has gross assets worth S$40B and employs a workforce of 40,000 worldwide.  Hong Leong Group also holds the largest non-government resident land bank in Singapore.  Over the decades, Hong Leong Group has transformed the Central Business District skyline with many iconic developments such as Hong Leong Building (built in 1975), Fuji Xerox Towers (formerly known as IBM Towers), Anson Centre, 80 Robinson Road, 76 Shenton Way and the list continues.  

Since 1960s, Penrose Developer Hong Leong Holdings Limited, has built countless homes on this little red dot.  In 2013, close to one in every 5 private homes sold was built by the Hong Leong Group.  It is a household name with many famous developments such as Hong Leong Gardens, Tulip Gardens and King’s Mansion in Amber Road.  Over the years, Hong Leong has added many high quality developments to their portfolio such as One Balmoral, St Regis Residences, The Meyerise, The Makena, The Atria at Meyer, Aalto, Watermark Robertson Quay, Bartley Residences, Bartley Ridge and many more. 

The latest addition to Hong Leong’s portfolio is The Avenir, a luxury-class development in the prestigious River Valley neighbourhood at District 9.  Through Intrepid Investment, Hong Realty and Guocoland, the 3 companies successfully acquired Pacific Mansion at River Valley through a record enbloc price of $980M.  This is second to the highest enbloc deal of Farrer Court at $1.34B in 2007.  Both Intrepid and Hong Realty are majority-owned by Hong Leong Holdings Limited. 

Besides property development, Hong Leong Group owns Millennium & Copthorne Hotel plc, which is the largest international hotel group in Singapore, which manages and operates over 150 hotels, with over 43,000 rooms in 80 locations worldwide. 

With such a stellar track record, residents can look to the Penrose Developer for a high-quality development that offers unprecedented living experiences that is well above the rest.

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City Developments Limited

Penrose Developer, City Developments Limited (CDL), is a prestigious brand name in Singapore.  The company rose from very humble beginnings in a rented office with 8 employees.  In 1965, CDL accomplished a major milestone by completing its first residential project ‘Fresh Breezes’ in Johor Bahru and it also created the first-ever concept of a ‘showflat’.  In the same year, CDL built its first high-rise residential development, City Towers in Singapore.  Following shortly in 1966, it developed its first full condominium,  Clementi Park.

In 1972 Hong Leong Group acquired controlling interests in CDL and the company started to diversify into investment property.  Under the leadership of late Mr Kwek Hong Png, CDL established its clear position as a major property developer in Singapore.  By 1980s CDL has successfully launched 21 residential developments including City House in the heart of Central Business District which became its headquarters. 

To date, Penrose Developer CDL has total assets of $23.7B, of which 37% are in property development, 28% in investment property and 26% in hotel operations.   The company owns 24 million square feet of gross floor area in residential, commercial and hospitality properties worldwide.  It also holds a diversified global land bank of 3.4 million square feet of land area. 

With over 50 years of track record, Penrose Developer CDL has developed over 46,000 homes and rose to distinguish itself from the rest by actively pursuing their vision of being an innovative creator of quality and sustainable spaces.  Carrying the motto of ‘conserve as we construct’, CDL is constantly pushing the innovation boundaries to set new benchmarks for the industry to create sustainable living spaces.  It is no surprise that their relentless green vision has led them to many awards such as BCA’s Green Mark Platinum Award 2019 and Award for Leadership in Sustainable Design and Performance in the Residential category (2019) conferred by the Singapore Green Building Council and the Building Construction Authority.  These are just a few of the recognition CDL has garnered in Singapore, excluding other accolades that they have also gained worldwide.

With CDL as Penrose Developer, residents can look forward to a development that is designed with careful consideration for both people and the environment.  Especially in Singapore where natural resources are scared, sustainable living is critical for the success of future generations.

CDL scored a record year in 2019 with the launch of 6 new developments, bringing the number of new homes to a total of 2,434 units ranging from executive condominiums to luxury residences.  As of February 2020, 43% (1554 units) were sold, bringing in a total sales value of $3.3B.  These developments include ultra luxury residences of Boulevard 88 and Nouvel 18, high-end residences of Amber Park and Haus on Handy, Piermont Grand Executive Condominium and Sengkang Grand Residences which is integrated with the MRT station, bus interchange, shopping mall and community centre. 

Penrose Developer CDL is widely recognized for its leadership in high-quality innovations.  Without a doubt, Penrose shall be an exciting platform for CDL to bring innovative and sustainable living experiences to a whole new level for the property industry in Singapore.

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