River Valley Green: $1,730 psf for the Last Site in the Precinct

23 June 2026Blog District 9 CCR

The River Valley Green (Parcel C) land sale site, outlined in red beside the Great World MRT station

On 23 June the Urban Redevelopment Authority awarded River Valley Green (Parcel C) to SMCL Haven 3 — the Sunway MCL vehicle — and CSC Land Group (Singapore), for $750,569,199.

That is $1,730 per square foot per plot ratio: a record for the River Valley and Zion precinct, past the $1,420 psf ppr paid for Parcel B, and about 22% above the previous tender in the same area.

The part that is harder to replace than the price: this was the last fresh site the government had to sell here.

What URA awarded


Site area	11,516.0 m² (123,957 sqft)
Maximum gross floor area	40,306 m² (433,850 sqft)
Allowable development	Residential
Tenure	99 years
Tendered price	$750,569,199 — $1,730 per square foot per plot ratio
Tender launched	9 April 2026
Tender closed	18 June 2026

Source: Urban Redevelopment Authority, 23 June 2026.

Four bids, and who else wanted it

The tender drew four bids — the fifth site released in this area, and still four developers came.

The winning offer beat China Overseas Land and Investment’s by about 4.1%. Third was a GuocoLand, Intrepid Investments and TID consortium; fourth was Kingsford Huray, at around $705.4 million.

That spread matters. When a site draws one bid, the price is one company’s opinion. When it draws four inside a few per cent of each other, the price is closer to a market view.

What is being built

The developers have said they intend a premium high-rise scheme: more than 500 homes in two 36-storey towers, on a 99-year lease.

Two towers of that height in River Valley means views, and it means most of the homes sit well above the street — which is much of what buyers pay for in this pocket of District 9, where the older stock is low-rise and hemmed in.

Why “the last site” is the sentence to remember

River Valley Green has been released parcel by parcel, and Parcel C closes the sequence. There is no further government land here to bid for.

For a developer, that means the next way into this address is to buy a collective sale — slower, more expensive and far from certain. For an owner in River Valley, it means the supply of genuinely new stock in the immediate area has an end point, and this is it.

That does not make prices go up. It does mean the argument “wait, there will be another one” no longer applies in this precinct.

What I would take from this

If you are buying in prime District 9, this record sets the reference point that the next launch here will be priced against. Whatever the developer eventually asks, the land underneath cost 22% more than the last comparable parcel.

If you already own in River Valley, a new benchmark two streets away is useful evidence when you sell — and a 500-home tower pair is also competition, when it completes.

And if you are weighing prime against city fringe, this is the arithmetic to look at. The same money buys considerably more floor area a few kilometres out. Whether the address is worth the difference is a question about you, not about the market.

Common questions

Who won River Valley Green (Parcel C)?

SMCL Haven 3, the Sunway MCL vehicle, together with CSC Land Group (Singapore), at $750,569,199 — $1,730 per square foot per plot ratio. It was the highest of four bids.

Why is $1,730 psf ppr significant?

It is a record land rate for the River Valley and Zion precinct, above the $1,420 psf ppr paid for River Valley Green Parcel B, and about 22% above the previous tender in the area.

What will be built there?

The developers have indicated a premium residential scheme of more than 500 homes in two 36-storey towers, on a 99-year lease, with a maximum gross floor area of 433,850 sq ft.

Is this really the last site in the area?

It is the last of the River Valley Green parcels the government released. Any further new development here would have to come from a collective sale rather than a government land sale.