A 5,285 sq ft, five-bedroom unit on the 55th floor of Skywaters Residences — Singapore’s tallest tower — has been sold for $30.87 million, translating to $5,841 psf, according to a caveat lodged on June 19. Realis data shows the buyer is a Singapore Permanent Resident (PR) who would be subject to an additional buyer’s stamp duty (ABSD) of 5%. The deal is said to have been brokered by ERA Realty Network.
This transaction comes just a year after one of the penthouses at the ultra-luxury Skywaters Residences made headlines with a record-setting sale of $47.34 million ($6,100 psf) in May 2024 — the highest psf price ever achieved for a 99-year leasehold residential development in Singapore.
Located at 1 Prince Edward Road in Tanjong Pagar, the 190-unit Skywaters Residences occupies the 27th to 63rd storeys of the 305m-tall tower. Below the residences is the ultra-luxury Aman Hotel, spanning the 24th to 26th floors, while the Aman-branded residences are located between the 28th and 30th floors.
Grade-A offices occupy the 3rd to 22nd floors, with a retail mall spread across basement 1 to level 2. The development is directly linked to Tanjong Pagar MRT Station, located in basement 1, with parking facilities on basements 2 to 4.
An integrated mixed-use development, The Skywaters is a redevelopment of 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.
Designed by Singapore-based DCA Architects and global architecture firm Skidmore, Owings & Merrill (SOM), the project is set to become a new landmark in the Core Central Region (CCR). Completion is scheduled for 2028. SOM is renowned for designing some of the world’s tallest skyscrapers, including 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 is still higher than the $5,600 psf achieved at The Orchard Residences when a 5,048 sq ft penthouse changed hands for $28.27 million in late 2007. The 175-unit Orchard Residences, also on a 99-year leasehold, sits atop the ION Orchard shopping mall and is integrated with the Orchard MRT Interchange Station (North-South and Thomson-East Coast Lines). Jointly developed by CapitaLand and Hong Kong-listed Sun Hung Kai Properties, the project in prime District 9 was completed in 2010.
