Discover a unique opportunity to own three extraordinary penthouses at Parkview Eclat, a freehold condominium on Grange Road in District 10. Finished about 16 years ago, this Art Deco-themed residence showcases the signature design of American architect James Adams.
James Adams is known for iconic landmarks such as the Forum Casino at Caesars Palace in Las Vegas, the MGM Grand Casino in Detroit, and the Galaxy Casino and Resort in Macau.
Created by Chyaw Fwu Development under Hong Kong’s Parkview Group, Parkview Eclat has a long history. It emerged from the Chyaw Fwu Group, formed in Taiwan during the 1950s by businessman CS Hwang.
Hong Kong’s Parkview Group controls Hong Kong Parkview and Singapore’s iconic Parkview Square, often known as “Gotham City.” They also invest in developments across China and Europe, showing their global reach.
Their Beijing project, Parkview Green, includes office, hotel, and retail facilities. In France, they own the Le Beauvallon in St Tropez and the Château de Coligny outside Paris.
Parkview Eclat’s Notable Features
Parkview Eclat reflects a past era of luxury condos with its large units and premium features, like 3.5m spa pools on every balcony. All bedrooms have their own bathrooms, and each unit includes quality fittings from Zucchetti, Gaggenau, and De Dietrich.
During its May 2007 launch, Parkview Eclat units averaged $3,254 psf. One four-bedroom unit hit $4,180 psf, indicating the robust demand at that time.
The developer held on to the three penthouses, intended for personal use. Now they have been released for sale again, giving buyers the chance to acquire prized real estate.
A Look at the Three Penthouses
The largest is the super penthouse: a 10,215 sq ft duplex on the 20th and 21st floors. It features a private lap pool, an internal spiral staircase with a glass elevator, and high ceilings ranging from 3.9m to 4.8m.
Two junior penthouses, each about 5,900 sq ft, sit just below on the 18th and 19th floors. They include double-volume ceilings of 6.8m and layouts that can fit up to five bedrooms.
Previously priced at $45 million and $26 million each, they did not find buyers. In January, Chyaw Fwu officially relaunched these penthouses with CBRE’s Tricia Ang as the exclusive marketing agent.
Current Penthouse Prices
The super penthouse now carries a $56 million ($5,482 psf) asking price, and each junior penthouse is offered at $26 million ($4,408 psf). This collection totals $108 million.
According to Ang, this pricing aligns with other top-tier properties. For example, The Ritz-Carlton Residences has a 6,501 sq ft triplex penthouse listed at $39 million ($5,999 psf).
Ang highlights that the penthouses have never been renovated. Owners can decide how to finish them, which allows creative freedom for design and interior features.
A buyer could merge the junior penthouses into a 10-bedroom home or even acquire all three for a “Good Class Bungalow in the sky.”
Renovating costs vary. Ang indicates the super penthouse might require around $4 million to install luxurious floors and appliances, while each junior unit might need about $2.2 million.
Luxury Market Highlights
Even though the broader market faced a slow period, luxury penthouses have held top pricing. Skywaters Residences in the CBD had a 7,761 sq ft penthouse that sold for $47.34 million ($6,100 psf) last May.
Another example is Dalvey Haus, where a 9,600 sq ft duplex penthouse sold for under $40 million, just below its initial $42 million ($4,375 psf) price. The purchaser is a Singapore PR.
Interest from Ultra-High-Net-Worth Buyers
According to Ang, many penthouse buyers come from China, India, and Indonesia. Some are fresh Singapore PRs who have set up family offices here.
Singapore remains a magnet for wealth even with tightened regulations following a $3 billion money-laundering scandal in August 2023. The city welcomed 600 new single-family offices last year, bringing the total to over 2,000 by late 2024.
Chee Hong Tat, who helps oversee MAS, links this growth to Singapore’s investor-friendly policies and reliable framework. He says it encourages long-range investment strategies.
Figures from Henley & Partners reveal that 3,500 high-net-worth persons moved to Singapore last year, ranking it behind only the UAE and the US for wealthy immigrants.
Positioned for Market Gains
Ang says Parkview Eclat’s penthouse release matches the current market energy. Many wealthy buyers are reassessing real estate plans at the start of the year, and Singapore’s economy and safe-haven status add to the optimism.
Ang points out that strong interest in upscale homes and the scarcity of such units enhance their desirability. Parkview Eclat’s last recorded transaction was a three-bedroom at $9.6 million ($3,315 psf) in December 2022.
Additional Listings
CBRE is also marketing a three-bedroom and two four-bedroom apartments at Parkview Eclat. They are all tenanted, with monthly rents between $18,000 and $23,000.
The three-bedroom unit on the 14th floor is priced at $10.8 million ($3,730 psf). One four-bedroom on the same floor asks $12 million ($3,690 psf), and another on the fourth floor is $11.5 million ($3,537 psf).
For Readers Eyeing Orchard Vicinity
Residents of Parkview Eclat enjoy quick access to Orchard Road, with dining and shopping close by. The building’s prime location appeals to families and investors seeking convenience and exclusivity.
The Orie Prices
Final Thoughts on Parkview Eclat
This development unites classic Art Deco design with a central location and premium fittings. Buyers looking for status, comfort, and privacy may find these penthouses appealing. If you crave an expansive home and a striking city view, Parkview Eclat sets a compelling option.