The River Valley Green (Parcel C) government land sale has snapped shut — and the winning number turned heads. A joint venture between Sunway MCL and CSC Land Group walked away with the site at S$750.6 million, or S$1,730 psf ppr. That’s 22% above the last tender price in the area. Not a rounding error. A statement.
S$750.6 million. S$1,730 psf ppr. 22% above the last tender. That’s not a bid — that’s a declaration.
Think of it like this. If your favourite wonton mee stall suddenly raised prices 22% overnight and people still queued around the block, you’d know something real is happening. That’s River Valley right now.
The site itself is no small thing. We’re talking 11,516 sq m, a 3.5 plot ratio, twin 36-storey towers, and around 470 to 500 residential units. This is also the last government land sale parcel in the River Valley precinct.
Last one. Like the final plate at a buffet — you either grab it or go hungry.
Four bidders showed up, which tells you demand is serious. China Overseas Land & Investment came in second at S$1,661 psf ppr. Kingsford Group was third at S$1,626 psf ppr. The entire spread? Under 6%.
That’s not a bidding war — that’s four experienced developers independently arriving at the same conclusion: this land is worth it. China Overseas Land & Investment is a subsidiary of China State Construction Engineering Corporation, one of the world’s largest construction conglomerates, underscoring the calibre of competition this tender attracted. This level of institutional confidence mirrors the Dover Drive GLS tender, where the winning bid also came in 5.7% above the second-highest offer, reflecting a broader pattern of decisive conviction among Singapore’s top-tier developers.
Before the tender closed, analysts were forecasting S$1,350 to S$1,700 psf ppr. The winner blew past the ceiling. And it wasn’t reckless. Strong sales at River Modern and River Green nearby, proximity to Great World MRT, Orchard Road, and the CBD — the fundamentals here are genuinely solid. River Modern, won by GuocoLand in February 2025, has already achieved 93% sales at a median price of S$3,229 psf, signalling robust and sustained buyer demand in the precinct.
Here’s the part that matters most for buyers:
- Higher land cost means higher launch prices for eventual units
- Surrounding property values in District 9 will likely feel the uplift
- Completion is expected around 2027–2028, so this affects the CCR market for years ahead
River Valley has always carried weight. But this bid, at this premium, with this level of competition, tells you that serious money believes the best is still ahead. And in Singapore property? When the smart money speaks this clearly, you listen.
