River Valley Green GLS tender sparks developer interest

It saw the highest bids and tender price for a CCR GLS site since 2020.

The plot at River Valley Green Parcel B (475 units) drew a record high of five bids, and a top bid price of $627.84 mil or $1,420 psf ppr above expectations submitted by a unit of GuocoLand.

It saw the highest bids and tender price for a CCR GLS site since Irwell Bank Road in 2020.

The River Valley Green (Parcel B) is a zoned residential with commercial at first storey.

Mark Yip, CEO of Huttons Asia said that the bids were more confident compared to the past few GLS tenders. Yip believes developers probably see the site as having better attributes like being right next to Kim Seng Park and facing the Singapore River.

Justin Quek, CEO of OrangeTee & Tie agreed and said that the potential buyer demand for this site may be on the higher side. Moreover, the removal of compulsory SA2 requirements that were previously tied to this land parcel could make the future development here more straightforward.

With a GuocoLand unit holding the top bid Tricia Song, CBRE Head of Research in Singapore and Southeast Asia said GuocoLand could be redeploying proceeds from its successful Lentor launches and may have been encouraged by the sell-out at Rivière (455 units) located just across the river from the land parcel. They will however have to contend with heightened competition, with 1,725 residential units and 435 SA2 units expected in the pipeline from the 3 prior sites.

Wong Siew Ying, Head of Research and Content, PropNex predicts that the average selling price could potentially hover at around $3,000 psf.

Follow the link s for more news on

CBRE

Huttons Asia

OrangeTee

PropNex

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia