Two sites at River Valley Green launched for tender
According to a URA press release dated March 11th, two residential plots at River Valley Green are now up for sale under the 1H2024 Government Land Sales (GLS) programme. They are located near Great World MRT Station on Thomson-East Coast Line as well as Great World City shopping mall.
Parcel A, comprising approximately 99.972 sqft, is now for sale on the Confirmed List and could produce up to 380 apartments. In the adjacent parcel B that occupies approximately 126,290 square feet and can be applied for under Reserve List River Valley Green may produce 580 units with 220 dedicated serviced apartments available for long-term stays.
River Valley could prove attractive to single professionals, couples with dual incomes and those without children (dinks), thanks to its close proximity to Clarke Quay and Robertson Quay which provide plenty of dining and entertainment choices.
Great World City is within walking distance for future residents and renters may find itself attracted by its closeness to CBD, while River Valley Primary school is just 1km away – both factors being attractive to homebuyers with children.
Read also: Lentor Hills Residences
City Developments Limited created Irwell Hill Residences at Irwell Bank Road. City won the site after placing their highest bid of $583.91 Million – or approximately $1.515 per square foot of plot ratio – which allowed Irwell Hill Residences to launch for sale in April 2021, at an average selling price per square foot of approximately $2700.
Irwell Hill Residences and The Avenir, two new home launches in this area, are already sold out, suggesting strong interest for any units in future projects in this location due to limited supply.
There are other GLS plots nearby. In December last year, the government unveiled two GLS plots on Zion Road as part of their 2H2023 GLS program; parcel A was made available under the Confirmed List while tender for parcel B opened under Reserve List on April 4. These parcels should eventually yield 435 serviced apartments and 1,170 units each.
River Valley Green (Parcels B and C) offers developers who wish to explore serviced apartments the easiest option, being half of the size of Zion Road (Parcels A). Furthermore, its connectivity with Great World MRT Station ensures seamless accessibility for future residents.
River Valley Green parcel A will close on June 19.
