Two leasehold private residential sites in River Valley Green were released for sale on March 11 under the first-half 2024 Government Land Sales (GLS) programme.
The two sites in the prime River Valley residential district can yield about 960 private homes, including long-stay serviced apartments.
The site at River Valley Green Parcel A, which can yield 380 private homes, was launched for sale under the confirmed list. Sites on the confirmed list are launched for sale according to schedule, regardless of demand.
The other plot, Parcel B, which can yield 580 units, including 220 long-stay serviced apartments, is available for application under the reserve list. Such sites are launched only upon successful application by a developer that has given an undertaking to offer a minimum bid that is acceptable to the Government.
PropNex head of research and content Wong Siew Ying said she believes developers may be more interested in the Parcel A site as it has "a smaller development size and there is no requirement to offer long-stay serviced apartments, which may put off those without hospitality-sector experience".
She added that the Parcel B reserve list plot is appealing, but it may not be triggered any time soon in view of the upcoming supply from River Valley Green Parcel A and the nearby Zion Road Parcel A sites.
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