The River Valley Green (Parcel B) site attracted 5 bidders and a top bid of $1,420 psf ppr from GuocoLand.
Bids for the attractive site which has direct access to Great World MRT station were more confident compared to the past few GLS tenders. Developers probably see the site as having better attributes like being right next to Kim Seng Park and facing the Singapore River.
This is the highest number of bids and tender price for a GLS tender in the CCR since Irwell Bank Road in Jan 2020.
There are encouraging signs of interest returning to the CCR with new price highs achieved in luxury projects.
One of the penthouses in Skywaters Residences was sold for $47.3 million or $6,100 psf. This is the highest price on a per sq ft basis since a unit at The Marq at Paterson Hill was sold at $6,840 psf in 2011. Two units in The Ritz-Carlton Residences Singapore Cairnhill were transacted at $5,397 psf, the highest price since its launch in 2007.
2 units in Park Nova were sold at near-record high in Jan 2025. The penthouse was sold for $38.9 million or $6,593 psf. This is a tad shy of the $6,840 psf achieved at The Marq on Paterson Hill in 2011.
With more major launches in the pipeline, the CCR may be poised for its best performance in recent years.
