The Urban Redevelopment Authority has launched the land tender for two sites, at Peck Hay Road and River Valley Green (Parcel C), under the Confirmed List of the 1H2026 Government Land Sales (GLS) programme. The parcel at Peck Hay Road can yield around 315 units, while the parcel at River Valley Green can yield around 470 units. The tenders will close on 11 June 2026 and 18 June 2026, respectively.
Peck Hay Road
This is the second site launched under the upcoming urban transformation of the Newton area. Located just a short walk away from Newton MRT interchange, future residents have easy access to two MRT lines. Many primary schools are also close to the site. Newton Food Centre and the Orchard Road shopping belt is a short distance away. New amenities will also be built in the area from new mixed-use developments, along with more public areas and green spaces. (https://www.uradraftmasterplan.gov.sg/regional-plans/central-area/enhancing-city-neighbourhoods/)
The first GLS site launched under the transformation of the Newton area was awarded in November 2025 at a land rate of around S$1,820 psf ppr. This was the highest price recorded for a CCR parcel since the site that now houses Cuscaden Reserve was awarded at a land rate of S$2,377 psf ppr.
The strong sales at recent new launches in the prime areas may give confidence to developers, especially as Singapore’s property market continues to shine as a safe-haven asset. With the Newton neighbourhood set to undergo transformation, developers may continue to aim for land parcels here, especially since this is the second parcel released thus far. While the transformation of the Newton area may take place over a few years, existing amenities and transport networks will serve future residents well, as more developments progressively take place and add to the neighbourhood.
We expect 4 to 7 bidders for the site, at a highest land rate of S$1,650 to S$1,750 psf ppr.
River Valley Green (Parcel C)
The site is well-located, 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 most recent GLS land site sold in the area is the River Valley Green (Parcel B) site, which was awarded in February 2025 at a land rate of S$1,420 psf ppr. Five bidders were interested in that site then. The land parcel is now the project River Modern, which launched for sale in March 2026.
Recent launches have shown the popularity of homes at the River Valley area. The last two launches at the nearby Parcel A and B sites, River Modern and River Green, sold the vast majority of their units during their launch weekend, underscoring the attractiveness of units in this area. With limited land available for residential developments in the city, homes in this part of the CCR will remain extremely popular with buyers. 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, we expect developers to find the land parcel attractive, as the overall price quantum will remain within their risk appetite. We expect 4 to 7 bidders, at a highest land rate of S$1,500 to S$1,600 psf ppr.