Five penthouses at Marina Bay Residences up for sale for $138mil

9 Feb 2021

Spanning levels 50 to 54, the five penthouses feature a combined 24 bedrooms as well as a 25m rooftop pool. Combining the units will yield a super penthouse with 28,258 sq ft of strata area.

Five penthouses at Marina Bay Residences have been put up for sale carrying an indicative price of $138 million or about $4,884 per sq ft (psf) on the total strata area, reported The Business Times (BT) citing marketing agent Tristar Properties.

Spanning levels 50 to 54, the five penthouses feature a combined 24 bedrooms as well as a 25m rooftop pool.

Combining the units will yield a super penthouse with 28,258 sq ft of strata area. If necessary approvals are obtained, the amalgamation will be subject to the construction of internal staircases to connect the units. Typically, a super penthouse has a minimum size of 10,000 sq ft.

Four of the five penthouses – including the biggest unit which is a 11,012 sq ft triplex – are owned by a family office that acquired them for nearly $65.8 million in December 2006. The fifth penthouse is owned by a private investor who acquired it for nearly $13.9 million in 2013, Tristar told BT.

Recommended article: Living at the top of the world: the biggest condos in Singapore

Offering “efficiency of usable space”, Tristar noted that this “rare” collection is ideal for a multi-generational household or as an opulent home for an ultra-high-net-worth individual and his family.

The combined property will be larger than the Wallich Residence super penthouse that British tycoon James Dyson and his wife Deirdre recently sold for $62 million. An Indonesian-born tycoon acquired the 21,108 sq ft triplex unit.

Perched at the top of Guoco Tower, the Dysons bought them for $73.8 million in 2019, making them Singapore’s most expensive condominium then.

Data from Tristar’s tracker showed that a total of 22 luxury penthouses were transacted in 2019 and 2020, worth a total of around $580 million. A unit at freehold condominium Boulevard 88 registered the highest psf unit price at $5,125 psf.

Demand for opulent houses in Singapore has been on the uptrend in the last few years, fuelled by the Brexit, Hong Kong protests, the United States-China trade war and now the Covid-19 pandemic, said Tristar.

“Singapore has clearly emerged as a safe haven (location) during the pandemic for many ultra-high-net-worth individuals. The ultra wealthy have also increasingly chosen the city-state in recent years to open family offices,” said Edwin Yip, Associate Director at Tristar as quoted by BT.

Suggested read: Need to Move In Urgently? Condos that will TOP in 2021

Among those setting up family offices within the city-state are Google Co-founder Sergey Brin, hedge fund Bridgewater Associates founder Ray Dalio and James Dyson.

Yip said wealthy individuals are “attracted to Singapore’s low tax rates, political stability and incentives such as a scheme giving investors a pathway to permanent residency”, with many expressing interest to invest in Singapore luxury residential asset in the near term.

Tristar expects “robust” pent-up demand in luxury homes as travel restrictions are gradually lifted and the Singapore economy reopens.

Yip described the Marina Bay penthouse collection as a one-of-a-kind “trophy asset” since there is no comparable penthouse of this size in Singapore and with such an unrivalled view.

Connected to Marina Bay Link Mall, Marina Bay Residences is a six-minute walk to The Shoppes at Marina Bay Sands and a 20-minute drive to Changi Airport via the East Coast Parkway and Marina Coastal Expressway.

Looking for a property in Singapore? Visit PropertyGuru’s Listings, Project Reviews and Guides.


You may also like these articles

Sentosa Cove penthouse sold at $2.4 million loss

The four-bedroom unit at The Berth by the Cove was sold for $3.25 million, or $1,105 psf. (Photo: Edmund Tie) A two-level penthouse at Sentosa Cove's posh The Berth by the Cove was sold on mortgagee

Continue Reading1 Mar 2018

Singapore has 6 of 11 super penthouses currently on sale in the world

Despite its small size, Singapore has six of the 11 super penthouses around the world that are currently on the market, based on listings from 2016 to April 2019, revealed List Sotheby's International

Continue Reading20 Jun 2019

James Dyson has sold his Wallich Residence penthouse - at a $11.8mil loss

The triplex penthouse in Tanjong Pagar was purchased at $73.8 million last year, and is sold for $62 million or close to $3,000 per sq ft (psf) based on its 21,108 sq ft strata area. Image: GuocoLan

Continue Reading19 Oct 2020