By Hong Leong & CDL


A Luxury Condominium Situated In The Golden Triangle of 3 Key Growth Areas

Sales Enquiries 6528 9588

Sims Drive, Singapore
SITE AREA 174,68 sq ft / 16,225 sqm
Hong Leong Holdings & CDL
566 Units | 5 Blocks of 18-Storey
Expected TOP in year 2024

Penrose Location & Amenities

Penrose is strategically located in between CBD and Changi Airport, making it a perfect home for professionals who work in downtown and travel for business trip frequently.

Aljunied MRT400m
Bus 40,62,63,100,125,155,158300m
Expressway - PIE4 mins
Sims Vista Market150m
Paya Lebar Central1 station
Bugis Junction3 stations
Paya Lebar Central1 station
CBD5 stations
Ubi Industrial Estate2km
Geylang Methodist Primary500m
James Cook University450m
Nexus International300m
Singapore Sports Hub1.5km
East Coast Park2.5km
Changi Airport7 stations
How Aljunied Town is planned with the comprehensive range of facilities to meet Penrose residents’ needs? Check it out.

Do you have any questions regarding Penrose location and Amenities? Let’s Talk

Penrose Map

In the Center of Key Growth Area

Make it your home in No-Time

Residents in Penrose is situated in the golden triangle of 3 key growth areas, consisting Paya Lebar Central, Kallang Riverside as well as Bidardari New Town.


The blueprint for Paya Lebar Central was unveiled by URA as part of the Master Plan 2008. About 12ha of land is available for development with about 500,000sqm of commercial spaces. The vision for Paya Lebar Central is to develop into a lively, pedestrian-friendly commercial hub with a distinctive cultural identity.  3 new shopping malls have been added in recent years, including One KM, Paya Lebar Square and Paya Lebar Quarter. SingPost Centre has also been refurbished as part of the rejuvenation plan.

The 8.2ha Kampong Bugis site along Kallang River has called for tender in Dec 2019. The site expects to yield 4,000 private homes and 50,000sqm of commercial spaces for retail, offices, hotel and recreational uses. The entire precinct will be developed in 9-11 years by one master developer.

Bidadari Estate is envisaged to be the next Bishan. The plan has slowly taking shape since year 2015. A 10ha Bidadari Park with a lake will form the green lung for the estate, together with 6 distinctive neighbourhoods, and a mixed commercial and residential cluster.


Choose Penrose. Discover the Site Plan!

Indulge in a landscape both azure blue and eco green. Work out at the Indoor Gym or Take a dip in the 50-meter lap pool. Venture forth a little more into the Garden and be mesmerised by the tranquillity of its lush foliage. Your kids will find an array of exciting features waiting to entertain them.

Penrose site plan
Plot Ratio
Total Units
Units Left

Penrose Floor Plan

Penrose is designed to accommodate all your needs, a love nest for younger families or even multi-generational living. See below for the floor plans of the units available in Penrose.

New Standard of Luxurious Living
The wide range of unit types at Penrose ensures that there is a home just perfect for everyone.
Only the Finest for You
Every single day at home becomes better when home is graced with the finest branded appliances.
Best examples of Function and Design
Enjoy every moment in your home with our carefully crafted space at every corner of the house.

Penrose Price

Price Factsheet & Guide

Hong Leong & City Development successfully acquired Sim Drive under Government Land Sales with the highest bid of $383.5 million or $732psf per plot ratio.

The 99-year leasehold site has an area of 174,648 sqf land and could be developed into 566 residential units.

The estimated breakeven price for Penrose is $1,235psf. Launch price may range from $1,500psf onwards.


From $1.12M


700-710 sqf

Buyer's Stamp Duty

Buyer’s Stamp Duty (BSD)

Purchase Price or Market Value of the Property BSD Rates for Residential Properties BSD Rates for Non-Residential Properties
First $180,000 1% 1%
Next $180,000 2% 2%
Next $640,000 3% 3%
Remaining Amount 4%

Additional Buyer’s Stamp Duty (ABSD)

Nationality 1st Property 2nd Property 3rd Property
Singapore Citizens N.A. 12% 15%
Permanent Residents 5% 15% 15%
Foreigners 20% 20% 20%
Entities / Companies 25% 25% 25%
Housing Loan Information

Residential Home Loan Regulations (MAS)

First Loan Second Loan Third Loan
Loan Tenure Up to 30 years 31-35 years Up to 30 years 31-35 years Up to 30 years 31-35 years
Age Age used to calculate loan tenure, will be based on income-weighted
Up to 65 Up to 70-75 Up to 70-75 Up to 65 Up to 70-75 Up to 70-75 Up to 65 Up to 70-75 Up to 70-75
Maximum LTV Limit 75% 55% 55% 45% 25% 25% 35% 15% 15%
20% (non-individuals)
Minimum Cash Downpayment 5% 10% 10% 25% 25% 25% 25% 25% 25%
Gaurantors / Co-borrowers All Co-borrowers must be mortgagors.
Guarantors must be co-borrowers if the latter did not pass the TDSR criteria
Mortgage Servicing Ratio N/A
Total Debt Servicing Ratio 60%
Stress Test Interest Rate 3.5%
Normal Payment Scheme

Also known as Progressive Payment Scheme, allows you to service your loan via monthly instalments progressively stage by stage as the property is being built.

Stage Payment Under a Standard Payment Scheme (% of Purchase Price)
Upon the grant of Option to Purchase 5% (Booking Fee)
Upon signing of the Sale & Purchase Agreement or within 8 weeks from the Option date 20% less Booking Fee
Completion of foundation work 10%
Completion of reinforced concrete framework of unit 10%
Completion of partition walls of unit 5%
Completion of roofing/ceiling of unit 5%
Completion of door sub-frames/ door frames, window frames, electrical wiring, internal plastering and plumbing of unit 5%
Completion of car park, roads and drains serving the housing project 5%
Notice of Vacant Possession (TOP) 25%
On Completion date 15%

Visit Penrose Showflat


Location, Opening Hours

Penrose showflat is targeted to open in early 2020. Kindly book an appointment here before making your way down to view Penrose Showflat as it may be closed at certain days/time.

Online registrants who have booked an appointment here will be able to receive Direct Developer Price and need not pay any commission. Please be informed that units for sale at Haus on Handy are on first come first serve basis.

Before Visiting Penrose Showflat

  • It is advisable to check exactly how much CPF you are eligible for Haus on Handy purchase after setting aside the minimum sum.
  • How are you affected by the TDSR & ABSD? You will need to know the bracket you are in. Find out more using the TDSR calculator.
  • On the actual launch date, you will need to understand how the Balloting System works.


Alternatively, you may simply book an appointment by filling up the form below and let us contact you. Our experienced sales team is able to assist you throughout the process.


About Developer


Hong Leong Group is a globally-diversified company with $40 billion assets and over 40,000 employees. The Group’s business covers property development, hotels, financial services and Trade & Industry.

Hong Leong Investment Holdings was established in 1960s when it consolidated most of its property interest and investments. The Group has major stake in City Developments Limited.

Over the past five decades, the group has reshaped Singapore Skyline with more than 130 quality residential properties and 100 premier commercial and mixed use developments.  Today the Group is one of the largest commercial landlords and holds the largest non-government residential land bank in Singapore. It’s also the largest Asian-controlled hotel groups outside China. Its flagship brands include Grand Millennium, Copthorne, Studio M, W Singapore- Sentosa Cove, The St Regis Singapore, etc..


City Development Limited is a leading real estate company listed on Singapore Exchange.  With proven track record of 50 years, the group has developed more than 40,000 homes globally and received many prestigious awards.

Register Interest @ Penrose

 Get Direct Developer Discount

Step 1 of 2

  • Select your most preferred bedroom size. You can always change your preference later.
10:00 AM – 7:00 PM

Recent Updates from Penrose

Last Updated: 14th September 2021