Two River Valley GLS Sites Released : The Government Land Sales (GLS) programme has unveiled two leasehold private residential sites in the distinguished River Valley Green area, expected to accommodate approximately 960 private residences, including options for long-stay serviced apartments. This initiative marks a significant opportunity for developers and investors aiming to capitalize on Singapore’s robust real estate market.
River Valley Green Parcel A: A Purely Residential Appeal
URL Link for River Valley Green Parcel A : https://www.ura.gov.sg/Corporate/Land-Sales/Sites-For-Tender/river-valley-green-A-mar24
| Location | River Valley Green (Parcel A) |
| Site Area (1) | 9,291.1 m2 |
| Land Use Zoning / Allowable Development | Residential |
| Maximum Gross Floor Area | 32,519 m2 |
| Maximum Building Height (2) | 164 m SHD |
| Project Completion Period (3) | 60 months |
| Lease Period | 99 years |
River Valley Green Parcel A, designated for the development of 380 private homes, emerges as a particularly attractive option for developers. Its launch under the confirmed list signifies its availability for sale according to a pre-determined schedule. The absence of a requirement to include long-stay serviced apartments enhances its allure, potentially simplifying the development process and appealing to developers with limited experience in the hospitality sector.
The Strategic Potential of Parcel B
URL Link for River Valley Green Parcel B : https://www.ura.gov.sg/Corporate/Land-Sales/Sites-For-Application/river-valley-green-B-mar24
| Location | River Valley Green (Parcel B) |
| Site Area (1) | 11,737.0 m2 |
| Land Use Zoning / Allowable Development | Residential with Commercial at 1st Storey |
| Maximum Gross Floor Area | 41,080 m2 |
| Maximum Building Height (2) | 164 m SHD |
| Project Completion Period (3) | 60 months |
| Lease Period | 99 years |
Conversely, Parcel B offers a unique composition, with plans for 580 units, including 220 dedicated to long-stay serviced apartments. Although its sale is contingent upon developer interest under the reserve list, this plot presents a nuanced investment opportunity. Its diverse unit mix may cater to a broader market segment, albeit with considerations for the specific demands of managing serviced apartments.
Market Insights and Developer Sentiment
Industry experts predict healthy competition for these sites, driven by their prime locations and the scarcity of similar offerings in the vicinity. River Valley Green Parcel A is particularly noted for its purely residential nature, making it a straightforward choice for developers wary of the complexities associated with serviced apartments.
Despite the anticipated interest, the backdrop of higher-for-longer interest rates and macroeconomic uncertainties poses challenges. The additional buyer’s stamp duty (ABSD) rate for foreign buyers at 60% also remains a critical factor in investment decisions. However, the near sell-out of adjacent projects like Irwell Hill Residences signals strong underlying demand for premium residential units in the area.
Also as these sites are 99 years leasehold (as all GLS sites are), they pale in comparison to Freehold sites such as 32 Gilstead condo. Freehold sites always hold a special place in Singapore due to its ability to pass down the properties to future generations.
Two River Valley GLS Sites Released : Developer Interest and Bid Expectations
Predictions for the number of bids on River Valley Green Parcel A range from three to five, reflecting both its attractive size and strategic location near key amenities like the Great World MRT station and Great World City mall. This location is expected to draw significant rental demand, further buoyed by proximity to the Central Business District.
Finally, the Two River Valley GLS Sites Released will add to the number of new residential properties to be released in Singapore and will make sure that more people can afford to have their own housing needs and their lifestyle needs fulfilled.
This important development will help future generations of Singaporeans hold the most prized assets in their retirement and growth portfolio. We are, of course, referring to the amazing REAL ESTATE properties in Singapore.
