Penthouse at Union Square Residences sold for $18.5 mil to Singapore PR

The sole penthouse at luxury development Union Square Residences by City Developments Limited (CDL) has fetched $18.5 million ($3,838 psf) in a new sale brokered by Joseph Tan, associate senior sales director at SRI.

The buyer is a French national who is a Singapore permanent resident (PR). The caveat for the transaction was lodged on Feb 20.

Spanning 4,833 sq ft, the penthouse sits on level 40, with views of the Singapore River and Marina Bay.

Situated at Havelock Road in prime District 1, the 366-unit, 99-year leasehold Union Square Residences was launched in November 2024.

Based on caveats lodged as of Mar 2, 2026, the developer has moved 137 units so far, making it about 37.4% sold, at an average of about $3,229 psf.

Before the penthouse purchase, the last transaction was for a 1,518 sq ft, four-bedroom premium unit in December 2025, caveats showed. It was purchased for $5.234 million ($3,449 psf).

On launch day, CDL sold 75 units, including one of the two Sky Suite premium apartments, at an average selling price of $3,200 psf.

The 2,476 sq ft five-bedroom Sky Suite on level 38 was sold for $9.288 million ($3,751 psf).

The other five-bedroom Sky Suite on level 39 appears to still be unsold, going by caveats lodged as of Mar 2, 2026; it was priced at $9.5 million ($3,837 psf).

About 83% of the buyers at the launch were Singaporeans, with the remaining 17% comprising PRs from China, Malaysia, the UK and the Netherlands, and foreigners from Norway and the US. The one-bedroom, two-bedroom and three-bedroom premium units were the most popular with homebuyers.

Located in the heart of the Singapore River precinct and at the gateway of the CBD, the residential project is part of Union Square, a large-scale mixed-use development with office, retail, and food and beverage space, as well as a co-living component with a hotel licence.

It will comprise Union Square Central, a 20-storey office block; Union Square Residences, a 40-storey residential block with commercial space at the first two storeys; a three-storey block with co-living and commercial space; and the existing conservation buildings, which are being repurposed for retail and co-living use.
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The Union Square redevelopment project sits on the former sites of Central Mall (office and conservation buildings) and Central Square. The project is targeted for completion in 2029.