Land price of Zion Road (Parcel A)

The Zion Road (Parcel A) site is a prominent Government Land Sales (GLS) plot located next to Havelock MRT station in the River Valley area. The tender for this site closed on April 4, 2024, with a sole bid of $1.107 billion, translating to approximately $1,202 per square foot per plot ratio. The successful bid was submitted by a joint venture between City Developments Ltd (CDL) and Mitsui Fudosan.

Key details of Zion Road (Parcel A):

- Site area: about 164,439 square feet (or 15,277.9 square metres)
- Maximum permissible gross floor area (GFA): 920,871 square feet (or 85,557 square metres)
- Lease period: 99 years
- Zoning: Residential with commercial use allowed on the first floor
- Estimated yield: Up to 1,170 residential units, including long-stay serviced apartments, which will be among the first of their kind in Singapore, with a minimum stay of three months

The public sales launch for the project, tentatively known as Zion Residences, is expected around the third quarter of 2025.

This land sale marks a significant development for the River Valley and Zion Road locale, further enhancing its status as a prime residential district with close proximity to transport, amenities, and the city centre.