Sustained demand evident in new GLS launches

Bid expectations vary for two CCR GLS sites in H1 2026 rollout.

The Urban Redevelopment Authority (URA) has launched two Government Land Sales (GLS) residential sites at River Valley Green (Parcel C) and Peck Hay Road in the Core Central Region (CCR) under the H1 2026 Confirmed List, which can yield about 785 private homes.

Wong Siew Ying, Head of Research and Content at PropNex, said CCR launches have recorded sustained demand.

She cited Newport Residences, which sold more than 74% of its 246 units since January, and four CCR launches in the second half of 2025, which collectively sold about 86% of their combined 1,839 units as at 29 March 2026.

Mark Yip, Chief Executive of Huttons Asia, said River Valley Green sales momentum reflects continued buyer interest in the precinct and noted that River Valley Green (Parcel B), now River Modern, was awarded in February 2025 at about $1,420 psf ppr with five bidders.

Justin Quek, Deputy Group CEO of Realion Group, said both sites sit in central locations near MRT stations, schools, and amenities, with River Valley Green (Parcel C) located next to Great World MRT station and Peck Hay Road forming part of the Newton transformation under URA Master Plan 2025.

Quek said the Newton area plan envisions a mixed-use urban village across Newton Circus, Scotts Road, and Monk’s Hill, with about 5,000 new homes over 10 to 15 years.

He noted that the first GLS site in the area was awarded in November 2025 at about $1,820 psf ppr, the highest CCR land rate since Cuscaden Reserve in 2018.

Wong and Yip said River Valley Green (Parcel C), which can yield about 470 homes, sits next to River Valley Primary School and near Great World Shopping Centre, Orchard Road, Singapore River, and Robertson Quay.

They added that recent sales in the area indicate sustained demand supported by proximity to transport links and retail amenities.

They said four to seven bidders are expected for River Valley Green (Parcel C), with top bids ranging from $1,500 to $1,650 psf per plot ratio.

Yip said Peck Hay Road sits within walking distance of Newton MRT interchange and is supported by nearby schools including ACS (Junior) and SJI (Junior), as well as Newton Food Centre.

Quek said the Newton transformation will progressively add new amenities, public spaces and green areas.

They said four to seven bidders are expected for Peck Hay Road, with top bids at about $1,650 to $1,750 psf per plot ratio.

The tenders will close on 11 June 2026 for Peck Hay Road and 18 June 2026 for River Valley Green (Parcel C).

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