The tender for the Government Land Sale (GLS) site at River Valley Green (Parcel C) closed on June 18, drawing four bids from developers. Topping the list was a joint venture between Sunway MCL and CSC Land Group, which submitted a bid of S$750.57 million, translating to S$1,730 psf per plot ratio (psf ppr).
Table of contents
- River Valley Green (Parcel C) tender result
- What to expect from the future River Valley Green condo
- The fifth River Valley new launch within 2 years
- Limited upcoming new home supply in the CCR
River Valley Green (Parcel C) tender result
| Ranking | Tenderer | Bid Price (S$) | Land Rate (S$ psf ppr) |
| 1 | Sunway MCL and CSC Land Group | 750,569,199 | 1,730 |
| 2 | China Overseas Land & Investment (COLI) | 720,720,000 | 1,661 |
| 3 | Hong Leong Holdings, GuocoLand and TID | 715,858,744 | 1,650 |
| 4 | Kingsford Group | 705,446,604 | 1,626 |
The top bid was 4.15% higher than the second-highest offer of S$720.72 million (S$1,661 psf ppr) from China Overseas Land & Investment (COLI). A consortium comprising Hong Leong Holdings, GuocoLand and TID came in third with a bid of S$715.86 million (S$1,650 psf ppr), while Kingsford Group submitted the lowest bid of S$705.45 million (S$1,620 psf ppr).
Notably, the gap between the highest and lowest bids was just 6.4%, suggesting that developers largely shared the same view on the site’s value. Such a tight bid spread typically reflects confidence in the location’s fundamentals and a broad consensus on the pricing that a future project could potentially achieve.
Previous GLS plots along River Valley Green
Parcel C is the final site among the three Government Land Sales plots released at River Valley Green in prime District 9. The tender result also underscores how significantly land values in the precinct have risen over a relatively short period.
| Site | Tender Close Date | No of Bids | Land Rate (S$ psf ppr) |
| Parcel A | 19 June 2024 | 2 | 1,325 |
| Parcel B | 7 February 2025 | 5 | 1,420 |
| Parcel C | 18 June 2026 | 4 | 1,730 |
The top offer of S$1,730 psf ppr surpasses both of the earlier River Valley Green sites. Neighbouring Parcel B, which was awarded to GuocoLand in February 2025, achieved a land rate of S$1,420 psf ppr. This means the top bid for Parcel C is nearly 22% higher despite the two sites being launched only a year apart.
In fact, all four bids submitted for Parcel C exceeded the winning land rates of both Parcels A and B. This points to growing developer confidence in the River Valley market, likely supported by the strong sales performances of recent projects such as River Green and River Modern.
What to expect from the future River Valley Green condo
The 99-year leasehold plot spans 123,958 sqft and can yield a gross floor area (GFA) of 433,854 sqft. Located directly beside the Great World MRT station and next to River Valley Primary School, the future development occupies one of the most convenient residential locations in the Core Central Region (CCR).
According to URA, the plot is expected to yield an estimated 470 new private homes. However, the Sunway MCL-CSC Land joint venture reportedly plans to develop a premium residential project comprising more than 500 units across two 36-storey towers.
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For homebuyers, the appeal goes beyond just its central address. The site sits within a mature neighbourhood where most daily needs are already within walking distance. The Great World shopping mall is connected to the MRT station via an underground linkway, offering convenient access to supermarkets, dining options, retail stores, and lifestyle amenities.
Future residents can also enjoy the nearby Singapore River promenade, Kim Seng Park, and the vibrant dining scene at Robertson Quay. Orchard Road is just one MRT stop away, while the upcoming Zyon Galleria is expected to introduce even more retail and lifestyle offerings to the neighbourhood in the years ahead.
With strong connectivity, established amenities, and reputable schools nearby, this latest addition to the River Valley cluster is likely to appeal to both families and buyers seeking a centrally located home.
Given the top bid land rate of S$1,730 psf ppr, market watchers project that the future development could be launched at an average selling price exceeding S$3,300 psf.
The fifth River Valley new launch within 2 years
River Valley has become one of Singapore’s most active new launch hotspots over the past two years. Several Government Land Sales (GLS) sites have been released in the area, leading to the launch of projects such as Zyon Grand, River Green, Promenade Peak, and River Modern.
The upcoming condo on the River Valley Green (Parcel C) plot will be the fifth development launched in the vicinity in just over two years, highlighting the Government’s efforts to introduce more housing supply in this highly regarded neighbourhood.
The rapid arrival of several projects in such a short span may raise questions about whether supply could start to outpace demand. However, these new developments in River Valley have consistently recorded strong take-up rates upon launch.
The most recent example is the 455-unit River Modern, which sold more than 90% of its units during launch at an average price of S$3,266 psf. Earlier projects launched in 2025 also attracted healthy demand, which means that homes in this part of the city will remain extremely popular with buyers.
Unlike newer growth areas that are still developing, River Valley is already a mature residential enclave. Future residents will not need to wait years for supporting infrastructure, amenities, or transport links to be built. Everything is already in place, from shopping malls and dining destinations to schools and parks.
Limited upcoming new home supply in the CCR
Compared to the bumper crop of new launches that entered the market in 2025, the pipeline of upcoming Core Central Region (CCR) projects is relatively limited. While several sites remain available for future development under the 1H2026 GLS Programme, most of the upcoming supply is concentrated in the Rest of Central Region (RCR) and Outside Central Region (OCR).
This makes River Valley Green (Parcel C) particularly noteworthy for homebuyers. Not only could it be the final new launch within the River Valley Green precinct, but it is also one of the few upcoming residential projects in a prime central location. Under the Confirmed List of the 1H2026 GLS, only three sites are located within the CCR: Holland Plain near Bukit Timah, Peck Hay Road, and River Valley Green (Parcel C).
With limited land available for new residential developments in the city, opportunities to purchase a brand-new home in established central neighbourhoods are becoming increasingly scarce. Buyers who may have missed earlier launches such as River Green or River Modern could find River Valley Green (Parcel C) to be one of the last chances to enter this highly sought-after enclave.
Beyond its central location, the future development at River Valley Green (Parcel C) is also likely to appeal strongly to families. The site sits next to River Valley Primary School, a key consideration for many parents planning their long-term housing needs.
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