What Does the 99-Year Lease at Skywaters Residences Mean?

Published 18 October 2026 · Figures as at October 2026

The Skywaters Residences Lease in Brief

The land beneath Skywaters Residences is held on a 99-year lease that expires on 30 October 2122, according to Perennial Holdings. Counting back, the lease began on 31 October 2023, so a buyer today starts with almost the full term ahead.

That is unusual for a home in the Downtown core. Many older buildings in the financial district sit on leases granted decades ago, and a new home there would normally carry whatever was left of the original term. The Skywaters, by contrast, came with a new lease when the site was redeveloped.

How Skywaters Residences Gained a Fresh Lease

The site previously carried the AXA Tower, a 50-storey office building on a lease that began in July 1982, as EdgeProp reported in 2022. Its owners, a consortium led by Perennial Holdings with Alibaba Group and Singapore partners, redeveloped it under the URA’s CBD Incentive Scheme, which encourages older office towers in the financial district to be rebuilt with homes, hotels and offices.

A redevelopment of this kind involves the state granting a new lease for the new use, and Perennial gives the new term as 99 years ending in 2122. The CBD Incentive Scheme article explains the scheme in more detail.

The dates come from Perennial Holdings, the consortium leader, which gives the lease as expiring on 30 October 2122 on its own page for The Skywaters.

What a 99-Year Lease Means at Skywaters Residences

Most new private homes in Singapore are built on 99-year leases from the state. Owners hold their homes for the remaining term of the lease, and can sell, mortgage or pass them on like any other registered property. At the end of the term the land returns to the state, which is why the remaining lease is the figure that a buyer, a bank or a later purchaser looks at.

For Skywaters Residences the remaining term is long. A home bought in 2026 has about 96 years of lease left, and by the time The Skywaters is completed, targeted for 2028, the lease will still have well over 90 years to run.

The Lease and Financing at Skywaters Residences

Banks and the CPF Board look at the remaining lease when they lend or allow CPF savings to be used, and a lease with more than 90 years still to run is about as long as a new private home in Singapore can carry.

Loan limits themselves are set by the Monetary Authority of Singapore by the number of loans outstanding and the loan tenure, as the housing loan page explains, and the TDSR calculator estimates the loan an income supports.

How Ownership Is Recorded at Skywaters Residences

Until the development is legally complete, a buyer’s rights rest on the sale and purchase agreement with the developer. Once the Certificate of Statutory Completion is issued and the strata plan is approved, the Singapore Land Authority issues a strata title for each home, recording the owner and the remaining term of the lease.

From then on the title can be transferred, mortgaged or inherited like any other registered property in Singapore.

Leasehold Across the City Centre and Skywaters Residences

Almost all land in the Downtown core is leasehold, granted by the state for a fixed term, and most residential developments there are built on 99-year leases. What sets one development apart from another is how much of the term remains, which depends on when the lease began.

A building on a lease granted in the early 1980s, like the AXA Tower before its redevelopment, would by now have only part of its term left. Skywaters Residences, with a lease that began on 31 October 2023, has close to the full term, which places it among the longest remaining leases of any home in the city centre.

For an owner, that means the length of the lease is unlikely to be a concern for decades, and for a later buyer or bank it means the remaining term starts from a high base. The project details page lists the lease dates with their source.

A Long Lease at the Top of Skywaters Residences

A fresh lease and a new building together give owners a long horizon in the city centre. The tower is the first in Singapore to pass 300 metres, it carries the BCA Green Mark Platinum award, according to Perennial, and it reuses part of the old building’s foundations to cut its embodied carbon.

The project details page lists the published particulars, and the Sales Concierge sends the current price list on request. Showflat viewings are arranged by appointment through the Sales Concierge.

This article is general information as at the date shown and is not financial, legal or tax advice. Statutory figures are from IRAS and MAS; particulars of Skywaters Residences are from the developer, Perennial Holdings and the URA, and dates from the developer, the LTA and published reports.