Wing Tai Holdings submits top bid of $1,325 psf ppr for residential GLS site at River Valley Green

The government land sales (GLS) tender for the residential development site at River Valley Green (Parcel A) closed on June 19 with 2 bids. The highest bid of $464 million, or $1,325 psf per plot ratio (psf ppr), was submitted by Winchamp Investment Pte. Ltd., also known as Wing Tai Holdings. The 100,009 sq ft, 99-year leasehold site is zoned for residential, non-landed development. It has a plot ratio of 3.5 and a maximum gross floor area of 350,035 sq ft which could be developed to house a project with 380 units, according to URA estimates. Editor's note: This article will be updated