River Valley Apartments, a freehold condominium located along River Valley Road, has been successfully sold for a whopping $56 million. This deal marks the first successful residential collective sale transaction of 2025. The selling price translates to a land rate of $1,622 per square foot per plot ratio (psf ppr).
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According to a press release by Knight Frank Singapore, the marketing agent for the transaction, the buyer is a Singapore-based family office. The buyer intends to redevelop the site into serviced apartments. The Urban Redevelopment Authority (URA) has already granted an Outline Permission for the development of serviced apartments on the site.
Chia Mein Mein, the head of capital markets (land and collective sale) at Knight Frank Singapore, says, “The successful sale of River Valley Apartments is a significant achievement in a challenging collective sale market, especially for the residential sector.”
This transaction is the first residential collective sale site to be sold in a prime district since May 2023, when Kew Lodge was sold for $66.8 million to Aurum Land. “The collective sale tender for River Valley Apartments attracted a lot of interest,” adds Chia. She also mentions that the site’s appeal is due to its highly desirable location in the popular River Valley neighborhood. With its redevelopment into a serviced apartment project, the site is perfectly positioned to tap into the growing demand for such living spaces in Singapore.
River Valley Apartments comprises a four-storey building with 24 units. The site, which spans 12,408 square feet, is zoned for “residential” use and has a gross plot ratio of 2.8 under the latest Master Plan. The owners of River Valley Apartments launched the collective sale of the development on January 7, with a guide price of $56 million.
Jerry Tan, the chairman of the River Valley Apartments collective sale committee, shares, “We have attempted to initiate a collective sale in the past, and this is the first time we have secured the consensus of 80% of owners to proceed with the tender launch.” Interested buyers can check out the latest listings for properties in River Valley Apartments.
To make it easier to browse available listings, we have compiled a list of properties for sale at River Valley Apartments on Ask Buddy. You can also find out if there have been any unprofitable transactions in River Valley Apartments and compare the price trend of HDB, condo, and landed properties in the area. For more information, you can also view the sale transactions for River Valley Apartments and check if there are any condo rental listings in District 10.