IMAGE: Wing Tai Holdings
Wing Tai Holdings, a property developer listed on the Singapore stock exchange, has begun showcasing its latest residential project, River Green, on July 17. Located at River Valley Green, the project is situated next to the Great World MRT Station on the Thomson-East Coast Line (TEL). Bookings for units at River Green are scheduled to start on August 2.
River Green is a 99-year leasehold development located in the prime District 9 within the Core Central Region (CCR). It consists of a 36-storey residential tower with a rooftop terrace on the 37th floor. The project was designed by P&T Consultants, with STX Landscape Architects as the landscape designer.
According to Wing Tai, River Green has been awarded the BCA’s Green Mark Platinum Super Low Energy certification, making it the first private residential development in Singapore to receive all five sustainability badges, including health and wellbeing, whole life carbon, maintainability, resilience, and intelligence.
Potential buyers can now find out more about available units and prices for River Green. The development is equipped with rooftop solar panels that can generate enough power to cover 30% of the energy needs in the common areas. The basement car park has 265 parking spaces, including 40 electric vehicle (EV) ready lots and 20 with EV charging stations.
This is Wing Tai’s first residential project in the River Valley area. The developer is known for its upmarket and ultra-luxury developments in Singapore’s CCR, such as Le Nouvel Ardmore, L’Viv, Newton 18, and Belle Vue Residences. Stacey Ow Yeong, head of marketing at Wing Tai Property Management, says that the developer has a strong track record and familiarity with developing projects in the CCR.
Wing Tai’s most recent project, The M, a 522-unit development in the Rest of Central Region (RCR), has been fully sold. The company’s latest launch prior to River Green was The LakeGarden Residences in Jurong Lake District, which has sold over 75% of its units since its launch in August 2016.
Wing Tai has been actively acquiring prime residential sites through the Government Land Sales programme. In March 2016, it secured the River Valley Green (Parcel A) site with the highest bid of $464 million, or $1,325 psf per plot ratio (ppr). The developer recognized that the site’s strong locational attributes, such as its accessibility to the Great World MRT Station, proximity to the Singapore River, CBD, and nearby schools, make it an ideal location for a high-quality project. The adjacent parcel, River Valley Green (Parcel B), was subsequently awarded to GuocoLand, which submitted the winning bid of $627.84 million ($1,420 psf ppr) when the tender closed in February 2025.
According to Mark Yip, CEO of Huttons Asia, the River Valley area has experienced positive changes in recent years. For example, the Great World shopping mall underwent a major asset enhancement with a refreshed tenant mix. The opening of the Great World MRT Station on the TEL in November 2022 has also improved public transport connectivity, making the area even more appealing.
River Green is the first major new launch in River Valley since the debut of the 540-unit Irwell Hill Residences in April 2021. Coincidentally, July 17 marks the preview of another project, Promenade Peak, a 596-unit development by Allgreen Properties at Zion Promenade in the Rest of Central Region (RCR). While the projects are located in different districts, they are in close proximity to each other. Kelvin Fong, CEO of PropNex, notes that the two projects share attributes that are desirable to today’s homebuyers, such as central location, walking distance to an MRT, and proximity to retail and F&B offerings.
Despite being in a different district, Robertson Opus (formerly Fraser Place), a 348-unit, 999-year leasehold project jointly developed by Frasers Property and Sekisui House, also adds to the growing number of new launches in the prime District 9. Some may have concerns about oversupply in the area, given the number of new launches. However, ERA Singapore CEO Marcus Chu argues that the consecutive launches do not necessarily lead to a glut in the market. As seen in other areas, such as Pasir Ris Grove, Punggol, and most recently Lentor Hills, take-up has remained healthy. Each project in the River Valley-Zion Road corridor caters to different segments based on buyer preferences, lifestyle, and budget.
Wing Tai has kept the unit sizes at River Green efficient to keep prices within the budgets of local homebuyers. The development offers a mix of one- to four-bedroom units ranging from 420 to 980 sq ft. The units come with premium appliances from V-Zug and Liebherr, bathroom fittings from Gessi, and sanitaryware from Villeroy & Boch. Two-bedroom units make up the majority at 53%. One-bedroom and one-bedroom plus study units account for 20% of the development, while three-bedroom units make up 20% and four-bedroom units make up 7%.
When considering investing in Singapore, it is crucial for international investors to familiarize themselves with the regulations and limitations surrounding property ownership. Unlike landed properties, which have more stringent ownership regulations, foreign individuals are generally permitted to purchase condos with few restrictions. However, they are still required to pay the Additional Buyer’s Stamp Duty (ABSD), which currently stands at 20% for their initial property purchase. Despite this extra expense, the steady growth and potential of the Singapore real estate market remain highly appealing to foreign investors. Moreover, with the addition of new condo launches, there are even more opportunities for international buyers to enter the market and benefit from its thriving conditions.
Ow Yeong says that the developer aimed to balance spaciousness with efficiency to ensure that the prices are aligned with the budgets of local buyers. She notes that most young buyers in the CCR have affordability ranges of $2 million to $3 million, often with parental support. ERA’s Chu believes that Wing Tai’s pricing strategy will resonate with aspiring local homebuyers. He says that “as the price gap between the RCR and CCR has narrowed, new opportunities have emerged for Singaporeans to consider homes in the CCR.” Yip adds that some one-bedroom units in new RCR launches are priced around $1.4 million, which is higher than River Green’s starting price of $1.2 million for a CCR unit.
Christine Sun, chief researcher, and strategist at Realion Group has estimated that four new launches in the River Valley area in the second half of 2025 will add 2,175 units to the market, including River Green, Promenade Peak, Robertson Opus, and Zyon Grand, a 706-unit joint venture between City Developments and Mitsui Fudosan, which also includes 373 long-stay serviced apartments. Other potential developments in the area include GuocoLand’s upcoming 455-unit project on Parcel B and a potential 470-unit development on Parcel C, which is currently on the reserve list. Sun believes that the total forthcoming supply in the area could reach 3,100 units. Mohan Sandrasegeran, head of research and data analytics at SRI, adds that the green credentials of River Green could attract younger, eco-conscious buyers and families looking for a healthier living environment.
River Green’s facilities include a 50m lap pool, tennis court, gym, three function rooms, co-working space, barbecue and garden pavilions, and a Sky Loft with bar facilities on the 37th floor. A sheltered linkway connects the condo directly to the Great World MRT Station and the adjoining shopping mall. Sandrasegeran notes that the private residential supply in River Valley has typically been well-absorbed and limited. The new launches will offer buyers more choices, and healthy competition among developers may prompt them to introduce more competitive pricing or incentives.
PropNex’s Fong expects River Green to attract a similar buyer profile as Promenade Peak, with a mix of investors and homeowners, including HDB upgraders from Havelock, Tiong Bahru, Redhill, Henderson, and Telok Blangah. He acknowledges that there is a fair bit of new supply released over a short span, and concerns of oversupply are understandable. However, he believes that the area is appealing due to its surrounding amenities, including five primary schools within 2km of River Green.