Sunway MCL and CSC Land Win River Valley Green Parcel C With Record S$750.6 Million Bid
Singapore GLS | BT, Jun 19, 2026
A tie-up between Sunway MCL and CSC Land Group (Singapore) has topped a field of four bidders with a S$750.6 million offer for the River Valley Green (Parcel C) site, translating to S$1,730 per square foot per plot ratio. The winning bid marks a new high for land prices in the River Valley area and is about 22 per cent above the rate paid for the last nearby site, reflecting strong developer confidence in the Core Central Region.
Top Bid
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Bidders
Four Bidders for Coveted River Valley Site
The tender for the River Valley Green (Parcel C) site closed on Thursday (Jun 18) and drew four bids, underscoring sustained developer appetite for prime residential land in Singapore’s Core Central Region.
The top bid from SMCL Haven 3 (Sunway MCL) and CSC Land Group came in at S$750.6 million or S$1,730 psf ppr, above market expectations of S$1,350 to S$1,700 psf ppr. The second-highest offer, from COLI Singapore (China Overseas Land and Investment), was S$720.7 million or S$1,661 psf ppr.
The 99-year leasehold site spans 11,516 square metres with a gross floor area of 40,306 square metres and is expected to yield about 470 residential units.
New High for River Valley Land Prices
The winning bid of S$1,730 psf ppr is about 22 per cent above the land rate for the last site sold in the area, setting a new benchmark for the River Valley precinct. Analysts said the bullish pricing reflects developers’ confidence that selling prices for new CCR homes could continue to climb.
Mark Yip, CEO of Huttons Asia, noted that with the current upward trajectory in CCR land prices, future selling prices of homes in 2027 are likely to test the S$3,600 psf level. As of May 2026, the median selling price of nearby launches such as River Green and River Modern stood at about S$3,300 psf.
The River Modern project on the adjacent Parcel B site sold about 88 per cent of its units at an average price of about S$3,131 psf during its launch. Wing Tai previously acquired the Parcel A site in a June 2024 tender at S$1,325 psf ppr, well below the latest Parcel C result.
What This Means for CCR Buyers
The record land bid signals that new launch prices in the River Valley area could reach fresh highs when the project comes to market in 2027 or 2028. Buyers eyeing the Core Central Region should note that land cost alone now exceeds S$1,700 psf ppr, which historically translates into selling prices well above S$3,000 psf after factoring in construction and development costs.
Property consultants said the strong bidding also bodes well for the broader CCR market, suggesting developers remain optimistic about demand from both local upgraders and foreign buyers for prime residential addresses near Orchard Road and the Great World area.
Frequently Asked Questions
Who won the River Valley Green Parcel C tender?
A joint venture between Sunway MCL and CSC Land Group (Singapore) submitted the top bid of S$750.6 million, or S$1,730 per square foot per plot ratio. The bid was about 22 per cent above the land rate for the last site sold nearby, setting a new high for the River Valley area.
How many units will the River Valley Green Parcel C project have?
The 99-year leasehold site is expected to yield about 470 residential units. The site spans 11,516 square metres with a gross floor area of 40,306 square metres. The project is anticipated to come to market around 2027 or 2028.
What does the record land bid mean for property prices in the area?
Analysts expect the high land cost to translate into selling prices that could test S$3,600 psf or more when the project launches. Nearby recent launches have achieved median prices of about S$3,300 psf. The strong bidding signals continued developer confidence in the Core Central Region market.
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