The 11,516 sqm River Valley Green (Parcel C) government land sales (GLS) site, launched alongside another site at Peck Hay Road on April 9, can potentially yield 470 private residential units.
With a maximum gross floor area (GFA) of 40,306 sqm, the site has a gross plot ratio of 3.5.
The last site in the vicinity of Great World could pique developers’ interest, as the residential enclave has already seen strong demand, says Marcus Chu, CEO of ERA Singapore. “Demand for homes in River Valley has been proven despite higher prices due to the central location, comprehensive amenities and proximity to Great World MRT Station.”
The neighbouring River Valley (Parcel B) site drew five bids when it was tendered in February 2025. GuocoLand, which was awarded the site, submitted the top bid of $627.84 million, which works out to $1,420 psf per plot ratio (ppr). The development was launched as River Modern in March.
The River Valley (Parcel C) site is situated across the entrance of Great World MRT Station, which offers an underground linkway to Great World shopping mall. River Valley Primary School is next to the site, and the location offers excellent convenience to buyers, says Mark Yip, CEO of Huttons Asia.
“Exceptional sales at River Modern during launch weekend showed strong latent demand for homes in the River Valley area,” he adds. “Sales momentum in the Core Central Region (CCR) is likely to continue as these sites offer deep value to buyers.”
See also: Peck Hay Road GLS site in Newton could draw up to eight bids: analysts
With limited land available for residential developments in the city, homes in this part of the CCR will remain extremely popular with buyers, says Justin Quek, deputy group CEO of Realion Group (OrangeTee & ETC). “Moreover, buyers looking for a home here will have limited remaining options as there are few balance units from the previous new launches.”
With approximately 470 units, Quek expects developers to find the land parcel attractive “as the overall price quantum will remain within their risk appetite”. He expects four to seven bidders with a top bid of between $1,500 and $1,600 psf ppr.
Meanwhile, Huttons’ Yip thinks the site may attract up to five bidders and a top bid of between $1,400 and $1,600 psf ppr.
See also: Freehold corner heritage shophouse along Desker Road for sale at $10.5 mil
The tender for the site will close at noon on June 18.
Read about this year's GLS tenders:
Peck Hay Road GLS site in Newton could draw up to eight bids: analysts (April)
Frasers Property-Mitsubishi Estate JV tops four bids for Kallang Close GLS site at $1,415 psf ppr (April)
Large 5.74ha Bayshore Drive mixed-use GLS site could draw $2 bil top bid: analysts (March)
Qingjian Realty, joint venture partners top Dover Drive GLS bid with $1,556 psf ppr (March)
URA launches GLS site at Holland Plain, with up to six bidders expected (February)
CDL-Woh Hup JV places top bid for Tanjong Rhu GLS site, beating out four others (February)
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