Commentary on River Valley Green (Parcel C) GLS Tender Opening

SINGAPORE, 9 April 2026 - The tender for the Government Land Sale (GLS) site at River Valley Green (Parcel C) launched on 9 April 2026. The site spans an estimated 11,516 sqm with a potential yield of 470 private residential units. The tender for sale will close at 12 noon on 18 June 2026. 

“Being the last site in the vicinity of Great World, this could pique developers’ interest, being in a residential enclave that has already seen strong demand. The neighbouring River Valley (Parcel B) site drew five bids when it was tendered in February 2025,” said Marcus Chu, Chief Executive Officer, ERA Singapore.

“The strong take-up rates of the previous two developments at River Valley Green - River Green and River Modern - will give developers confidence to bid for the site. Demand for homes in River Valley has been proven despite higher prices due to the central location, comprehensive amenities and proximity to Great World MRT Station.”

“With schools, malls and MRT stations within minutes’ walk away, important factors for buyers today, we could see developers being more bullish in their bids, coming in at upwards of $1,450 psf ppr.”

“Buyers could come from HDB flat upgraders from the nearby Queenstown HDB town, which has seen 173 million-dollar flat transactions in 2025. Moreover, owners of older condos in the CCR or those living in the city fringe may take the opportunity to upgrade to a newer development in the CCR.”

“The site’s prime location within the Core Central Region, within walking distance to Great World MRT and close proximity to Orchard and the CBD, enhances its attractiveness to investors and working professionals. This accessibility supports both owner-occupation and rental demand, particularly for those seeking convenience and connectivity.”

“The area benefits from a strong and sustainable tenant pool, driven by expatriates and professionals working in the CBD. This underpins investment demand, especially for smaller units that are more affordable and yield-efficient. The strong take-up from previous new launches previous further reinforces the depth of demand for well-located CCR projects.”

“Despite increased geopolitical uncertainty and ongoing conflicts in the Middle East, developers remain confident in Singapore’s residential property market. Demand remains resilient and authentic, driven by first-time buyers looking for their own homes, HDB upgrader homeowners, and landed homeowners who are right-sizing rather than engaging in speculation.”

“Nonetheless, even with challenges faced by global markets, Singapore’s residential market maintains a largely positive outlook for the foreseeable future, being proven and resilient in times of uncertainty.”  

“With the launch of both sites today, six GLS sites (including Executive Condominiums) are open for tender, with another five sites on the 1H2026 GLS confirmed list set to be launched for tender in the coming months. This provides ample supply for developers who have carved a niche in different market segments and locales.”