Penrith.
The brief
Penrith sits on Margaret Drive in District 3 — 462 units developed by GuocoLand, Hong Leong Holdings, and Hong Realty within the Queenstown mature estate, five minutes from Queenstown MRT on the East-West Line. Launched 18 October 2025, TOP April 2029.
Pricing. PSF from $2,437 at launch. Entry from $1.495M for a 1-bedroom plus study. 4-bedroom units up to $3.078M. Units remain available from the developer.
Location context. Queenstown MRT (EW19, East-West Line) is a 5-minute walk, with Outram Park interchange (EW16/NE3/TE17) three stops east. IKEA Alexandra, Queensway Shopping Centre, and the Alexandra retail corridor are within the neighbourhood. The Dawson HDB precinct and Commonwealth Avenue food options are walkable.
Three things to know.
GuocoLand, Hong Leong and Hong Realty — a proven JV
Penrith is developed by the same GuocoLand-Hong Leong Holdings-Hong Realty JV behind Midtown Modern and Midtown Bay in the Bugis-Beach Road corridor. GuocoLand brings deep Singapore mixed-use experience; Hong Leong Holdings and Hong Realty add residential delivery track records across the OCR and RCR. The JV is one of the more active land-banking groups in the Singapore GLS market, indicating a long-horizon view on the Queenstown corridor.
Queenstown MRT and the East-West Line
Queenstown MRT (EW19) is a 5-minute walk, connecting east to Outram Park interchange (EW16/NE3/TE17) in three stops — and from there to the North-East Line and Thomson-East Coast Line. Westward the EWL runs directly to Clementi and Jurong East. The East-West Line remains Singapore's primary lateral spine across the southern corridor, and Queenstown sits near its midpoint.
Queenstown estate — mature town, limited new supply
Queenstown is Singapore's first satellite HDB town, with a predominantly owner-occupier character and limited new private land release. The Margaret Drive GLS site sits within the Queenstown Redevelopment Area — a URA masterplan zone earmarked for private residential intensification alongside existing HDB stock. Private launches within Queenstown's immediate catchment are rare; the typical resale market is HDB-dominated, making new leasehold supply structurally scarce.
Unit mix
462 units. 4 typologies.
| Type | Size (sqft) | Stacks | Indicative PSF | Price from |
|---|---|---|---|---|
| 1-Bedroom + Study | 527 - 635 | - | $2,437 - $2,900 | fr. $1.495M |
| 2-Bedroom | 700 - 818 | - | $2,437 - $2,900 | fr. $1.800M |
| 3-Bedroom | 980 - 1,163 | - | $2,437 - $2,900 | fr. $2.400M |
| 4-Bedroom | 1,302 - 1,463 | - | $2,437 - $2,900 | up to $3.078M |
Floor plans
4 typologies.
Location
Margaret Drive, Singapore.
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