Government Land Sale (GLS) Sites Analysis – River Valley Green (Parcel C)

The tender for the Government Land Sale (GLS) site at River Valley Green (Parcel C) closed today, on 18 June 2026. It drew bids from four developers, with the top bid of $750.6 million (or $1,730 psf ppr) submitted by SMCL Haven 3 Pte. Ltd. and CSC Land Group (Singapore) Pte. Ltd.

The participation of four developers is a more measured turnout compared to the five bids received for the previous River Valley Green (Parcel B) site, now River Modern, in February 2025. The top bid of $1,730 psf ppr underscores SMCL Haven 3 Pte. Ltd. and CSC Land Group (Singapore) Pte. Ltd’s strong confidence in well-located Core Central Region (CCR) residential sites, driven by continued resilient demand for homes in prime districts.

The 21.8% increase in top bid price compared to the winning bid of $1,420 psf ppr for the previous River Valley Green (Parcel B) site suggests that developers remain confident in future demand within the precinct. The stronger bid likely reflects the site’s locational strengths and its status as the last GLS site in the immediate Great World MRT vicinity.

Table 1: Bidders for the tender of River Valley Green (Parcel C) GLS site
 

1.0         Site Details  

Table 2: Details of River Valley Green (Parcel C) GLS Site

Map of River Valley Green (Parcel C) GLS site

The River Valley Green (Parcel C) GLS site has an irregular shape. Its site configuration may encourage a more creative project, with residential blocks, facilities, access points and landscaping carefully planning and arrangement to maximise land use.

2.0         Locational Attributes 

Overview
The River Valley Green (Parcel C) GLS site is located within the established River Valley residential enclave in District 9. The site will add more private housing supply to the River Valley area, which has become increasingly attractive, with strong demand for several newly launched condominiums. With a site area of about 11,516 sqm and a gross plot ratio of 3.5, the future development can potentially yield around 470 private residential units.

Connectivity
The site enjoys strong connectivity, being located just a five-minute walk to Great World MRT station on the Thomson-East Coast Line. This provides residents with convenient access to key locations such as Orchard Road, Marina Bay, Shenton Way and the CBD. Major roads such as River Valley Road, Kim Seng Road and Zion Road also provide easy access to different parts of Singapore.

Neighbourhood Amenities
The site is located next to River Valley Primary School. This could be a key draw for families with young children, particularly owner-occupiers seeking a centrally located home near a popular primary school. 

Located near Great World shopping mall, residents of this future development have easy access to a wide range of retail, dinner, supermarket and daily convenience options. This adds to the convenience of the location. Zion Riverside Food Centre is also a short walk away.

Lifestyle and Recreation
The site may also appeal to buyers who prefer urban and city living, given its proximity to the Singapore River, Robertson Quay and Orchard Road. This provides residents with a wide range of nearby dining options, retail shops and other lifestyle amenities.

The nearby riverfront and green spaces add a recreational element to the urban setting. Residents can enjoy walking and exercising  along the Singapore River promenade, while Kim Seng Park provides an alternative outdoor space that enhances the area’s overall liveability.

Overall, River Valley Green (Parcel C) GLS site is likely to appeal to a broad pool of buyers, including owner-occupiers, investors, HDB upgraders and right-sizers from nearby private residential developments. Its location within an established District 9 enclave, combined with strong transport connectivity and proximity to lifestyle amenities, should support healthy demand for the future development.

3.0         Price and Market Trends

From 2022 to 2026, the median price of non-landed homes in District 9 (D9), which covers areas such as Orchard and River Valley, increased by 22.10%, compared with 13.92% for the wider Core Central Region (CCR). This indicates that price growth in D9 outpaced the broader prime residential market over the same period, reflecting stronger price appreciation in the area.

Table 3: Prices of All Private Homes in the Vicinity

The CCR covers a broad area, encompassing a wide range of established and popular residential locations such as Tanglin, Newton, Novena, Bukit Timah, Holland, Marina Bay and Sentosa, each offering different levels of connectivity, amenities and neighbourhood maturity.

4.0         Potential Demand/Buyer Profile 

The central location of River Valley allows residents to enjoy close proximity to both CBD and Orchard Road. The connectivity of the neighbourhood is further enhanced by the completion of the Thomson-East Coast Line, supporting resilient buyers’ demand despite increasing prices.

Potential buyers’ demand could come from HDB flat upgraders from the nearby Queenstown HDB town, where 2,405 flats are expected to reach their Minimum Occupation Period this year. 

Furthermore, Queenstown saw 173 million-dollar flat transactions in 2025 and 110 million-dollar flat transactions so far this year. The high resale price fetched by these HDB flats could help fund upgraders who prefer to continue living in a familiar neighbourhood.

Moreover, owners of older condos in the CCR may take the opportunity to upgrade to a newer development in the same region, further widening the potential upgrader pool. Additionally, those living in the city fringe could take the opportunity to move to a more centrally located development.

5.0         New Homes Supply Pipeline

The strong take-up rates achieved by earlier launches at River Valley Green further reinforce buyer confidence in the River Valley area. River Green recorded an 88% take-up rate when it was launched in August 2025, while River Modern achieved a take-up rate of over 90% during its launch weekend in March 2026. To date, both projects have reached take-up rates of around 93%. Combined, both projects have about 65 unsold units. This suggests limited direct competition for the future development at River Valley Green (Parcel C) GLS site.

Table 5: Existing Developments within Proximity  

Buyers interested in new launches within the vicinity may also consider the remaining units at Zyon Grand and Promenade Peak, or wait for the upcoming development at River Valley Green (Parcel C) GLS site. As the last GLS site in the immediate Great World vicinity, the future development offers buyers a rare opportunity to secure a new home within an established District 9 residential enclave.

Conclusion

Despite the ongoing geopolitical tension and its potential implications for the global economy, Singapore’s economy has remained relatively resilient. Furthermore, the Ministry of Trade and Industry has announced that they will maintain this year’s GDP growth forecast at 2% to 4% y-o-y, signalling the government’s confidence in the resilience of the Singapore economy.

Singapore’s steady economic growth, coupled with low unemployment rates and declining interest rates, have resulted in a residential property market that is still supported by strong buyers’ demand.

The GLS sites released to date have generally drawn steady developer interest. At the same time, the four new projects within the River Valley region have achieved healthy take-up rates, pointing to sustained demand for new developments in the neighbourhood, driven by demand from upgraders and owners keen to live in convenient and connected area.

With the closing of this site today, three GLS sites from the 1H 2026 Confirmed List are open for tender, with a fourth site expected to be launched later this month. The recent release of the 2H 2026 GLS list offers seven private residential sites and a white site for tender that will provide a combined 4,010 residential units. The diverse location of the GLS sites from both lists offer developers a wide variety of choice, allowing them to carve a niche in different market segments and locations.