Wing Tai Holdings submits top bid of $1,325 psf ppr for residential GLS site at River Valley Green
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 19 2024
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Source: Yahoo Finance
- Highest Bid for River Valley Green (Parcel A): Winchamp Investment, a subsidiary of Wing Tai Holdings, bid $464 million for the 99-year leasehold government land sales site, with a land rate of $1,325 psf ppr.
- Limited Interest in GLS Site: Despite its location near Great World City, the River Valley Green site attracted only two bids, indicating developers' cautious approach due to market conditions.
- Market Conditions Impacting Bidding: High-interest rates and cooling measures are cited as reasons for the lack of developer appetite in bidding for available GLS sites.
- Consideration of Supply Impact: Developers are advised to consider the potential supply of new homes from other upcoming sites before deciding to bid for new projects.
- Future Developments in the Area: The River Valley area is seeing new projects like Irwell Hill Residences and The Avenir, with high sales percentages reported.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
