River Valley Apartments En Bloc Sold

The S$56 million transaction is a notable price point in the en bloc market, given recent challenges in matching buyer and seller expectations.

Each unit owner stands to receive between S$2 million and S$2.6 million, depending on the size of their unit, which ranges from 88 sq m to 115 sq m.

The marketing agent for this sale, Knight Frank Singapore, has emphasized that the deal received keen interest from investors, reflecting the growing demand for prime CCR properties.

One of the most exciting aspects of this sale is the buyer’s secured outline planning permission for a serviced apartment development.

Under URA’s Master Plan 2019, the site is zoned for residential use with a gross plot ratio of 2.8, providing ample opportunities for redevelopment.

Given its prime location and high-end residential appeal, the site is expected to be transformed into a luxury serviced apartment complex catering to expatriates, business travelers, and professionals.

Developers may also explore additional commercial or hospitality elements, aligning with the growing demand for high-end, flexible accommodation options in Singapore’s core city districts.

The strategic location of River Valley Apartments adds to its appeal.

Situated in Singapore’s District 10, the property enjoys proximity to key amenities such as Great World City, Orchard Road, and Robertson Quay.

Residents and future tenants will benefit from easy access to fine dining, shopping, and entertainment options, making it an ideal location for high-net-worth individuals and expatriates.

The prime property is well-connected to Singapore’s MRT network, with Great World MRT Station (Thomson-East Coast Line) just a short distance away.

Additionally, Orchard MRT and Fort Canning MRT stations provide seamless connectivity to the Central Business District (CBD) and Marina Bay.

This ease of transport is a crucial factor in attracting investors and potential buyers looking for convenience and accessibility.

The sale of River Valley Apartments breaks the en bloc drought in Singapore’s prime residential market, particularly in the CCR.

The last en bloc transaction in this area was Kew Lodge in 2023, which sold for S$66.8 million (S$1,940 psf ppr).

Analysts believe that this successful transaction could reignite interest in the en bloc market, especially for well-located freehold properties in core city areas.

Recent Government Land Sales (GLS) trends also offer key insights into property valuations in the River Valley area.

Notable transactions include:

• Zion Road (Parcel B): Sold for S$1,304 psf ppr (Allgreen Properties).
• Zion Road (Parcel A): Secured for S$1,325 psf ppr (Wing Tai Holdings).
• Thomson View Condominium En Bloc (2024): Sold for S$1,178 psf ppr.

While the GLS programme continues to expand the supply of government land, private en bloc deals remain a prime opportunity for developers to secure exclusive freehold sites in prestigious locations.

According to Chia Mein Mein, Head of Capital Markets for Land & Collective Sales at Knight Frank Singapore, the tender for River Valley Apartments saw strong interest from investors, reinforcing confidence in premium freehold properties.

Industry experts suggest that well-positioned en bloc sites will continue to attract serious buyers, especially as Singapore’s luxury property market remains resilient.

Analysts also predict a gradual revival of collective sales in 2025, particularly in the CCR and city fringe areas, as investors seek rare, well-located assets.

The successful sale of River Valley Apartments could potentially spark renewed interest in upcoming en bloc tenders.

With the tender closing on February 18, the buyer is expected to finalize redevelopment plans within the next year.

If construction moves ahead as anticipated, the new serviced apartment project could be launched by 2026 or beyond.

As the en bloc market continues to evolve, industry players are closely watching how buyer sentiment and land acquisition trends will shape Singapore’s property landscape.

Given the government’s steady GLS land supply, developers will likely weigh public vs. private land acquisition strategies when securing future development sites.

The en bloc sale of River Valley Apartments for S$56 million is a significant milestone in Singapore’s 2025 real estate market.

It marks a strong start to the year’s collective sales activity, especially in the highly sought-after CCR.

With outline planning permission already secured, this site is poised for an exciting transformation into a luxury serviced apartment development.

This transaction could signal a revival in en bloc deals, particularly in prime districts where freehold land remains highly desirable.

As the property sector continues to adapt to changing market conditions, all eyes are on whether this sale will pave the way for more successful en bloc transactions in 2025.