The River Opus

The research read

The River Opus is the planned redevelopment of Valley Point and Fraser Suites Singapore at 491 River Valley Road. It is in District 10, in the CCR (Core Central Region). Frasers Property and Mitsubishi Estate own it 51:49. They plan about 407 homes on a 999-year lease, a new 184-unit Fraser Suites and a retail podium. No land was bought, because Frasers already owns the site. The preview is targeted for February 2027 (est.) and completion for 2031.

Three things to take note. The lease is 999 years, which is rare in new River Valley launches. The last one was Frasers' own The Robertson Opus in July 2025. The developer is rebuilding its own site. Frasers has done this twice before, at Robertson Walk and Bedok Point. And the 13,439 sqm site sits between Valley Park and the Alexandra Canal. It is about 680m in a straight line from Great World MRT: a short walk, not a station on the doorstep.

With no land bid to anchor the price, a buyer has to work out four things another way. What would the land be worth if a developer bought it today? How have the six River Valley launches since mid-2025 sold on their first weekend? How much more than Valley Park next door will a new 999-year flat cost? And does the 999-year lease earn back its premium within a normal holding period?

From an F&N canning plant to Fraser Suites to 407 homes

The site has belonged to the same corporate family for generations. EdgeProp reports it once held Fraser & Neave's first aerated-water canning plant in Southeast Asia. In 1998 it opened as Fraser Suites Singapore, the group's first serviced residence, beside the Valley Point mall and office tower.

1. 1998Fraser Suites Singapore opensThe first Frasers Hospitality serviced residence, next to Valley Point's 20-storey office tower and two-storey mall.
2. 2025Frasers Hospitality Trust taken privateA later restructuring gave Frasers Property full ownership of Fraser Suites Singapore.
3. 25 Jun 2026Redevelopment flaggedFrasers said full ownership would let it redevelop the wider Valley Point site.
4. 30 Sep 2026Joint venture announcedFrasers Property (51%) and Mitsubishi Estate (49%); about 407 homes and sky villas, a 184-unit Fraser Suites, retail and dining. Maximum gross floor area 54,309 sqm.
5. Feb 2027 (target)PreviewNot developer-confirmed. The developers say only that the launch is in 2027.
6. 31 Mar 2027Valley Point and Fraser Suites closeDemolition follows.
7. 2031Expected completionAs stated in the 30 September 2026 announcement.

This history is why there is no land price on this page. Frasers did not buy the land in GLS Land Sales Bidding or a collective sale. It has owned it for decades, and now has a partner. What the land cost long ago has not been published. Nor has any differential premium, the fee the state charges when a site is rebuilt for a new use.

With no land bid, what does River Modern's $1,420 psf ppr imply?

Our launch estimates start from what a project costs to build. The land price usually comes from the tender. Here there is none, so we use River Modern's $1,420 psf ppr instead. GuocoLand paid that for River Valley Green Parcel B in February 2025, 850m away. It is the latest River Valley land price that has also been tested by a full launch.

We put $1,420 psf ppr into our cost model over the site's 54,309 sqm of floor area, at October 2026 rates. The estimated breakeven is $2,579 psf ppr. That covers land, building, loans, fees, stamp duty and marketing. Applying our standard 15% to 30% margin band gives an indicative launch range of $2,970 to $3,350 psf (est.). The full cost stack is in the Estimated launch pricing section above. our pricing methodology explains the model and how it has performed against 42 past launches.

The method works next door. River Modern's land gives the same $2,579 breakeven in our model. GuocoLand sold 410 units at $3,266 psf, 27% above it, inside our band.

Two things could push The River Opus higher than River Modern. The lease is 999 years rather than 99, and land sold since has cost more: Parcel C went for $1,730 psf ppr in June 2026. Valuing the land at Parcel C's price would put our range at $3,460 to $3,910 psf. The Robertson Opus, the closest like-for-like launch, averaged $3,360 psf in July 2025. So we expect pricing at the top of our range more than the bottom, and a launch above $3,350 would not surprise us. A lower land cost leaves room to price keenly; it does not oblige the developer to.

One limit is worth knowing. The model spreads cost over all 54,309 sqm, including the serviced flats and shops. Frasers will keep those. The homes' share of the floor area is not yet known.

How six River Valley launches sold on day one

No preview has happened yet, so the useful benchmark is how the neighbours sold. Six projects launched within 1.6km between July 2025 and March 2026.

Here are two findings. First, the three launches that sold 84% to 90% on day one all averaged $3,266 psf or less. The three that sold about half or less all averaged $3,343 to $3,360. Price, not location, separated the two groups.

Second, the only 999-year launch sold the slowest, even though it cost just 3% more per sq ft than River Modern. The Robertson Opus has kept selling, and its buyers have held their price, but day-one demand for long tenure was thin. For The River Opus, the take-up figure to watch at preview is whether it lands nearer River Modern's 90% or The Robertson Opus's 41%. Pricing near $3,300 psf would make that a fair test of how much buyers will pay for 999 years.

Great World is 680m away, Tiong Bahru 780m

• Great World (TE15), Thomson-East Coast Line: about 0.68km in a straight line, roughly 10 minutes on foot (est.). Verify the walk with OneMap. Orchard is one stop north; Outram Park, where the East-West, North-East and Thomson-East Coast Lines meet, is two stops south.
• Tiong Bahru (EW17), East-West Line: about 0.78km, roughly 12 minutes (est.), across the Alexandra Canal via Delta Road. Direct to Raffles Place and Jurong East.
• Havelock (TE16), Thomson-East Coast Line: about 0.90km, roughly 13 minutes (est.).
• Roads: River Valley Road runs along the site's northern edge. The Ayer Rajah Expressway is reached via Lower Delta Road and the Central Expressway via Kim Seng and Outram.

Every line here is already running. Nothing waits on a future opening date. The trade-off is plain: River Green, River Modern and Parcel C sit at Great World station, and this site does not.

Is anything new coming to this stretch of River Valley Road?

• River Valley Green (Parcel C): awarded June 2026 at $1,730 psf ppr for about 470 homes beside Great World station. Launch expected around 2027 (est.).
• The development's own podium: the joint venture plans dining, retail and lifestyle space. The tenant mix has not been announced, so whether a supermarket returns is unknown.
• Alexandra Canal: the park connector along the canal runs directly south of the site.

River Valley is a mature, built-up area. The Government has not announced any other transformation for River Valley that touches this site. The case rests on the lease, the address and the developer.

Three primary schools inside 1km, one by just 3m

Our schools dataset puts three primary schools within 1km and one more within 2km, measured in a straight line from OneMap coordinates. MOE measures home-to-school distance differently. River Valley Primary sits about 3m inside the 1km line, so check any address on MOE SchoolFinder before relying on it. The final block addresses do not exist yet.

Alexandra is the one families will ask about, and in 2026 it had 86 applicants for 55 Phase 2C places. Living within 1km puts a child into that ballot. It does not guarantee a place. Zhangde and Gan Eng Seng had spare places in both years. CHIJ (Kellock) and Radin Mas are often quoted for this area, but on our measure both are just over 2km away. Our primary schools and new-launch demand study explains how the phases work.

The Valley Point mall on the site closes on 31 March 2027. Until the new podium opens, residents will rely on Great World mall (0.55km). Zion Riverside Food Centre (0.46km) and Beo Crescent Market (0.47km) are the nearest hawker centres. Kim Seng Community Club is 0.55km away and Gan Eng Seng School (secondary) is 0.58km. Tiong Bahru Plaza is 0.74km and the Orchard Road malls start at about 1.3km. Singapore General Hospital is about 1.8km.

Valley Park next door resells at $2,246 psf

Eight older condos within about 1.2km show what this pocket resells for. Each exit figure below is a resale where we know both the buying and the selling price, so losses count as well as gains.

Most owners here made money, but slowly. RV Residences, the newest 999-year block nearby, has made a median 1.3% a year. Riviere, Frasers' last launch in this area, averaged about $2,890 psf at launch in 2019, as reported by EdgeProp, and resells near $2,840 today. A CCR launch price can take years to earn back. The long lease did not change that at RV Residences.

The River Opus will likely command a premium over all of these. Buyers who mainly want a 999-year address on this road may opt for a comparable resale such as Valley Park or RV Residences instead.

What rent covers at around $3,160 psf

Lodged rents at Riviere average $8.49 psf a month across 433 contracts, and at Irwell Hill Residences $8.43 across 394. At our $2,970 to $3,350 range, those rents give a gross yield of about 3.0% to 3.4% (est.), before property tax, maintenance and empty months. Both are newer and in a stronger rental spot. Treat that range as a ceiling. Valley Park's $3.66 average reflects its large 1990s units and does not compare. The River Opus is a long-hold, own-stay purchase; rent will cover only part of the loan. Run your own numbers in the new launch ROI calculator.

Who The River Opus suits, and who should look elsewhere

It suits a River Valley owner who wants to stay in the area, in a new home, and never think about the lease again. It suits a family buying a home to pass on, and a buyer who plans to hold for well over a decade, where 999 years matters most. It does not suit a buyer who must reach the station in five minutes. River Green or Parcel C do that better. It also does not suit anyone who may sell soon after completion. About 2,600 newer River Valley homes will be on the resale market by then. Nor does it suit an HDB upgrader whose cash and CPF will not cover roughly a quarter of a $2.5 million to $3.5 million price.

Stamp duties, loans and the River Opus payment schedule

Standard private condo rules apply. There is no citizenship restriction and no minimum occupation period. Total monthly loan repayments are capped at 55% of gross monthly income, tested at a 4% interest rate rather than the rate you are offered. You can borrow up to 75% of the price on a first housing loan, 45% on a second and 35% on a third.

Singapore Citizens pay no Additional Buyer's Stamp Duty on a first property, 20% on a second and 30% on a third. Permanent Residents pay 5% on a first and 30% on a second. Foreign buyers pay 60%. Buyer's Stamp Duty applies on top: $119,600 on a $3 million unit. With the 25% down payment, that unit needs about $869,600 upfront in cash and CPF, of which at least 5% of the price must be cash.

Seller's Stamp Duty is the tax for selling too soon. Since 4 July 2025 it runs for four years from when you exercise the option. It does not start when you get the keys. A buyer who exercises in early 2027 would be clear of it in early 2031, around the expected completion.

Payments follow the progressive schedule. You pay 5% at booking, then 15% plus Buyer's Stamp Duty at exercise. Later stages follow construction, with 25% due at completion and the last 15% when the title is issued. Get an in-principle approval from a bank before the preview. Work the figures through our affordability calculator, stamp duty calculator and progressive payment calculator, and read the TDSR guide for the 4% test. Test the repayment at a rate above today's. We do not forecast rates.

Plus points for The River Opus

• A 999-year lease. The last new River Valley launch to offer it was The Robertson Opus in 2025. The lease does not shorten in any practical sense, which protects the far end of a long hold.
• A developer that has done this before. Frasers turned Robertson Walk into The Robertson Opus and Bedok Point into Sky Eden@Bedok, and its Riviere sold out by 2023.
• Proven demand next door. Three River Valley launches sold 84% to 90% on launch weekend between August 2025 and March 2026.
• Three primary schools within 1km radius of the development. Zhangde had spare Phase 2C places in 2025 and 2026.
• Good MRT connectivity. Three stations on two lines within about 900m, all running today.

Minus points for The River Opus

Six things work against the purchase. The ratings are our view of how much each should weigh.

• HighDay-one demand for 999 years has been thinThe Robertson Opus sold 41% at launch and 60.3% to date, against 84% to 90% for three 99-year neighbours. If The River Opus prices above $3,300 psf, its take-up may look more like The Robertson Opus than River Modern. Mitigant: The Robertson Opus has not had to cut prices to keep selling.
• HighA large wave of new homes completes firstRiver Green, River Modern, Zyon Grand, Promenade Peak and The Robertson Opus add about 2,600 homes, mostly due around 2029 to 2030. Anyone selling soon after 2031 competes with them. Mitigant: by the mid-2030s those homes will be several years older and on 99-year leases.
• ModerateNo land price to anchor toOur $2,970 to $3,350 range assumes River Modern's land price. Using Parcel C's $1,730 would give $3,460 to $3,910. The real launch price could land above our range.
• ModerateNot at the stationAbout 680m to Great World against under 300m for River Green and River Modern. Mitigant: Tiong Bahru and Havelock are within 900m.
• ModerateLaunch timingThe developers say only "2027"; February 2027 is a target, not developer-confirmed. Buyers should not plan a home sale around it yet.
• LowA shared, busy siteThe homes share the plot with a 184-unit serviced residence and a retail podium. Expect more visitors than at a pure condo; check lobby and access arrangements at the preview.

The River Opus dates to watch

1. 25 Jun 2026Frasers flags the redevelopmentAfter taking full ownership of Fraser Suites Singapore.
2. 30 Sep 2026Joint venture and scheme announcedAbout 407 homes, 184 serviced units, 54,309 sqm maximum floor area.
3. Feb 2027 (target)Preview and price listCompare the average psf with our $2,970 to $3,350 range and take-up with River Modern's 90%.
4. 31 Mar 2027Valley Point and Fraser Suites closeDemolition and construction follow.
5. 2027 (est.)River Valley Green (Parcel C) launchesAbout 470 homes beside Great World station on a 99-year lease.
6. 2029–2030 (est.)Neighbouring launches completeAbout 2,600 new homes in River Valley.
7. 2031Expected completionAs announced by the developers.

Where we land on The River Opus

The River Opus asks buyers to pay about $2,970 to $3,350 psf (est.), or 32% to 49% more than Valley Park resells for next door. In return they get a new building, a 999-year lease and a developer that has done this twice before. Next to River Modern's $3,266 psf on a 99-year lease, the extra paid for the lease is small. It suits River Valley owners staying put and families buying for the long term. It does not suit buyers who need the station at the door or may sell soon after 2031.

The price list and the first weekend's take-up will settle the case. An average near $3,300 psf with take-up nearer River Modern's 90% would show buyers will pay for long tenure. Take-up nearer The Robertson Opus's 41% would show they still will not. We will update this page on preview day. Our River Opus review covers the land, schools and resale picture in more detail. The land cost tracker places River Modern's land price among every recent GLS site.

Sources: Frasers Property and Mitsubishi Estate joint announcement of 30 September 2026, as reported by EdgeProp (homes, serviced units, site area, gross floor area, closure date, launch and completion years, site history); Frasers Property announcement of 25 June 2026; launch results for River Modern (GuocoLand, 8 March 2026), River Green, Promenade Peak and Zyon Grand (EdgeProp, 2025 year review), The Robertson Opus and Upperhouse at Orchard Boulevard (EdgeProp, 20 July 2025); URA tender results in our land-sales register; breakeven from the PropertyInsider.sg cost model; MOE Primary 1 registration results 2025 and 2026 in our schools dataset; URA caveat and lodged-rent data compiled by PropertyInsider.sg; IRAS stamp duty schedules and MAS loan rules as at October 2026. The February 2027 preview is a target, not developer-confirmed. Figures marked (est.) are estimates and may change. Past performance of nearby projects does not predict future results. This page is research, not financial advice. PropertyInsider.sg is an independent research publication; the publisher's related interests are disclosed in our editorial policy.

Page history

• 5 Oct 2026: Page created after the 30 September 2026 joint-venture announcement. Added the site history, a launch estimate of $2,970 to $3,350 psf (est.) using River Modern's $1,420 psf ppr land price as a proxy, launch-weekend results for six River Valley launches, schools with 2025 and 2026 Phase 2C results, a nearby resale table, rental yield, the location map and a photo of Valley Point today.
• Next scheduled update: when the developers confirm the preview date and publish the price list, targeted for February 2027 (est.).

Frequently asked questions