The Urban Redevelopment Authority has just closed the tender for a land parcel at River Valley Green (Parcel C). The site can yield approximately 470 units.

The keen participation in the tender was not unexpected seeing a total of four bids for this site that is well-located and just next to Great World Shopping Centre. Various schools are also nearby, boosting the site's attractiveness to families. Connectivity is also excellent, with Great World MRT station just at the doorstep of the future development. Orchard Road and the CBD are also just a short drive or train ride away. The site’s strong attributes would have boosted participation in the tender.

Moreover, future supply in the River Valley/Great World area remains limited. This is the third land parcel launched for tender in the area, with the three parcels collectively yielding over 1,400 units. However, strong demand for homes here has led to the rapid absorption of units across the earlier launched projects, resulting in just the units from Parcel C adding to the upcoming supply. Both River Green and River Modern achieved strong sales when they were launched for sale. River Green sold 88 per cent or 460 units during its launch weekend, while River Modern sold 90 per cent or 410 units when it launched. Based on URA’s monthly developer sales data for May 2026, River Green has 33 unsold units, while River Modern has 32 units. We expect sales momentum for the future project at this land parcel to be similar when it comes on the market, which would definitely be a draw to developers.

The strong sales at recent new launches in the wider CCR may also have given confidence to developers, especially as Singapore’s property market continues to shine as a safe-haven asset amidst global macroeconomic and geopolitical uncertainty.

When analysing the bids, the highest bid came from SMCL Haven 3 Pte. Ltd. and CSC Land Group (Singapore) Pte. Ltd.at a bid price of S$750.6 million or around S$1,730 psf ppr, 4.1 per cent higher than the next highest bid from COLI (Singapore) Pte. Ltd. The number of bids submitted were relatively similar when compared to the River Valley Green (Parcel B) tender which recorded five bids and was awarded at a highest land rate of S$1,420 psf ppr. Notably, all the bids submitted this round were above the awarded bid for Parcel B, and the highest bid for Parcel C was 21.8 per cent above the previous awarded bid, which may reflect strong developer confidence in the site.