Penrith Project Details

Project Details: A Snapshot of Margaret Drive Condo

Penrith Condo is a 99-year leasehold development on a site spanning 102,497.1 square feet. Acquired through a government land sale (GLS) in August 2024 for $497 million (approximately $1,154 per square foot per plot ratio), the project is a joint venture between GuocoLand, Hong Leong Holdings, and Intrepid Investments. This collaboration brings together some of Singapore’s most respected developers, ensuring a high-quality outcome.

Key Specifications

• Number of Units: Approximately 462 premium residential units.
• Unit Types: Expected to range from one to five bedrooms, catering to singles, couples, and large families.
• Tenure: 99-year leasehold, a common structure for GLS sites in Singapore.
• Expected TOP: While the Temporary Occupation Permit (TOP) date has not been officially announced, construction timelines suggest a completion around 2029, with the showflat expected in 2025.

Strategic Design

Penrith is designed to maximize its plot ratio, offering a mix of unit sizes to suit diverse lifestyles. The site’s location near Queenstown MRT and its relatively large size allow for a well-planned layout, likely including communal spaces, greenery, and modern facilities. While the official site plan is yet to be released, GuocoLand’s developments typically feature thoughtful designs that balance aesthetics with functionality.