Two Prime Central GLS Sites Just Launched In Newton And River Valley — But One Could Be The Last Remaining Plot

Two residential government land sale sites (GLS) at Peck Hay Road in Newton and River Valley Green (Parcel C) were released for sale on April 9. These are the second and third residential development plots launched under the Confirmed List of the 1H2026 GLS programme.

The site at Peck Hay Road is close to Newton MRT Interchange on the North-South and Downtown Lines, and is bounded by Scotts Road. The 59,346 sq ft plot could yield 315 units, with a maximum gross floor area (GFA) of 290,808 sq ft with a gross plot ratio of 4.9.

Meanwhile, River Valley Green (Parcel C) is next to Great World MRT station on the Thomson-East Coast Line, and is next to Yong An Park condo and River Valley Primary School. The 123,957 sq ft plot could yield 470 units, with a maximum GFA of 433,850 sq ft and a gross plot ratio of 3.5.

In addition to injecting much needed private housing supply into areas of the Core Central Region (CCR), the condominiums coming from these sites will signal significant developments in their respective locales, if they are awarded.

For buyers who missed out on one of the new CCR projects that hit the market in 2025, the development of these sites might pave the way for their next opportunity to secure a home in centrally located and prime residential enclaves.

Here’s why the launch of these GLS sites will be significant to the new launch market in 2027/2028.

Peck Hay Road – 5,000 new homes in Newton

A significant urban rejuvenation plan unveiled with the Draft Master Plan last year was the progressive transformation of Newton into a unique mixed-use urban ‘village’, integrated with new green spaces and about 5,000 new homes.

The GLS site on Peck Hay Road is part of a cluster along Scotts Road which has been earmarked for future residences that neighbour new community facilities and a mixed-use cluster around Newton Interchange.

By the time these development plans kick off, Anglo-Chinese School (Junior), which is currently at Windstedt Road, would have vacated its campus and consolidated with Anglo-Chinese School (Primary) which will move to Tengah in 2030.

In this earlier article from 2023, we unpack what the relocation might mean and how it paved the way for Newton’s eventual transformation plan.

Turning back to the new GLS site, this is also not the first time it has been sold by the government. It was previously part of a larger 97,284 sq ft office-zoned site that was awarded to private equity firm Sun Venture Investments, after it submitted the top bid of $32.98 million in 2008. Originally, positioned as a transitional office site, the plot only had a land lease of 15 years.

A neighbouring 93,460 sq ft Transitional Office site was also sold to UOB Kay Hian in 2008. The site also came with a 15 year land lease. UOB Kay Hian developed a four-storey office building, and although extensions were granted until 2025, the brokerage vacated the property in 2025 to new premises in UE Square.

The latest Master Plan reveals that the existing Peck Hay Road will be extended and connected to Scotts Road. The new GLS site will front this new road extension, and the site has been re-zoned as for residential use.

Given the site’s prime location and potential as part of Newton’s proposed transformation into a vibrant urban village, as well as the tight competition for a nearby GLS site on Bukit Timah Road, we might expect to see six to eight bidders for this site,” says Marcus Chu, CEO of ERA Singapore.

He is referring to a residential GLS site next to Newton MRT Interchange and along Bukit Timah Road that was awarded to HH Investment, after it submitted the top bid of $556.29 million ($1,820 psf per plot ratio) for the 63,498 sq ft site in November 2025.

This is the record price for a residential land parcel in the CCR since 2018, when a consortium – comprising SC Global, New World Development, and Far East Consortium – paid $2,377 psf ppr for a GLS site on Cuscaden Road. That has since been developed into the ultra luxury Cuscaden Reserve.

“The lack of GLS sites in the vicinity in recent years has resulted in a lack of supply. Hence, there is pent-up demand for non-landed homes in Bukit Timah/Newton, which ranks amongst the most prestigious addresses in Singapore, says Chu.

He adds that some developers may see the chance of developing the first new condo in the upcoming Newton transformation zone as a significant first-mover advantage that would prompt strong demand from buyers.

Moreover, considering the qualities of the site – its relatively small size, high plot ratio, and CCR locale – the resulting project has a high chance of being a high-rise luxury development.

“With the Newton neighbourhood set to undergo transformation, developers may continue to aim for land parcels here, especially since this is the second parcel released thus far,” says Justin Quek, deputy group CEO of Realion (OrangeTee & ETC) Group.

While the full scope of the transformation will take place over a few years, existing amenities and transport networks will serve future residents well, as more developments progressively take place and add to the neighbourhood, he says.

River Valley Green (Parcel C) – a fifth new condo for River Valley

Meanwhile, the launch of the latest GLS site at River Valley Green is the fifth development plot that the government has launched in that neighbourhood in just over two years.

Previous sites awarded since April 2024 have since been launched as new condos – Zyon Grand by CDL, River Green by Wing Tai Holdings, Promenade Peak by Allgreen Properties, and River Modern by GuocoLand.

Each of these new condos have recorded strong take up rates and high sales when each launched for sale. The latest is the 455-unit River Modern which launched for sale last month. The condo moved 410 units which is just over 90% of its total units, and set an average selling price of $3,266 psf.

River Valley Green (Parcel C) is the last undeveloped plot in this prime residential enclave, which has already demonstrated strong demand for new luxury condos.

Developers have already shown a keen interest in acquiring sites there. For example, GuocoLand beat four other bidders in a very competitive tender that saw it submit the top bid price of $627.84 million ($1,420 psf ppr). Other bidders were Sing Holdings, SingHaiyi, Hong Realty, and Kingsford Group.

“The strong take-up rates of the previous two developments at River Valley Green – River Green and River Modern – will give developers confidence to bid for the site,” says Chu of ERA. He adds that demand for homes in River Valley has been proven despite higher prices due to the central location, comprehensive amenities and proximity to Great World MRT Station.

All of these attractive attributes, and the success of recent launches in the area, could see developers being more bullish in their bids, coming in at upwards of $1,450 psf ppr.

This year, the number of new CCR condos is relatively scarce compared to the bumper crop of new central region projects that hit the market in 2025. We recently outlined some of the remaining launch-ready projects in the 2026 pipeline in this article.

“Buyers looking for a home in River Valley will have limited remaining options as there are few balance units from the previous new launches, including River Green and Zyon Grand,” says Quek of Realion.

He adds that since the site is relatively manageable with an expected yield of 470 units, the overall price quantum will remain within their risk appetite. This may pave the way for the site to attract a top land rate of $1,600 psf ppr.

Developers weigh in on three GLS sites in the CCR

In the Confirmed List of the 1H2026 GLS programme, there are three sites in the CCR that developers will have to weigh. The first is a site on Holland Plain near Bukit Timah that launched for sale in February, followed by the new Peck Hay Road site and the River Valley Green (Parcel C) site.

“Recent GLS sites tendered have been well received, particularly those in the CCR, which typically attract fewer bids given their higher price quantum. In 2025 itself, we have seen sites awarded for Holland Link, Dunearn Road, and Bukit Timah Road with an outstanding five, nine, and eight bidders, respectively,” says Chu.

In a recent article, we also outline some of the reasons why recently closed GLS sites in 1Q2026 have attracted such competitive bids from developers.

Chu says that with many developers missing out in securing such prime sites, competition for the Peck Hay Road site and River Valley Green (Parcel C) site will likely intensify, potentially leading to more aggressive bids.

Although the spectre of economic volatility loomed over March, the exceptionally strong take-up rates at the handful of CCR projects will send a strong signal to developers on the appetite for such properties.

Aside from River Modern, the brisk and consistent sales at Newport Residences, a mixed-use development on Anson Road by CDL, will be flagged as another indicator. The ultra-luxury 246-unit development sold 140 units (57%) during its launch weekend in February.

But sales momentum did not wane and the condo has since sold 183 units, which means it is nearly 75% fully sold, and prices have moved up from $3,070 psf in February to $3,128 psf, based on caveats downloaded on April 10.

With the launch of the new GLS sites this week, six plots (including Executive Condominiums) remain open for tender, with another five sites on the Confirmed List set to be launched in the coming months.