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Public tender launches for S$403M residential estate in River Valley, Singapore

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Public tender launches for S$403M residential estate in River Valley, Singapore

The Regalia freehold condominium at 2 River Valley Close in Singapore is on the market for S$403 million through a collective sales campaign being handled by CBRE Singapore.

The estate is home to 112 apartments and four penthouses on a 63,371-square-foot site. It has a 2.8 plot ratio and permission for a residential building rising up to 36 floors, according to the city-state's Urban Redevelopment Authority Masterplan 2014.

CBRE, the sole marketing agent for the sale, noted that a residential development beside The Regalia was sold in March for S$980 million, or S$1,987 per square foot per plot ratio, without taking balconies into account.

The public tender for the freehold property will close Sept. 25 at 3 p.m. local time.

As of Aug. 7, US$1 was equivalent to S$1.36.