The Kallang Close land tender: how The River Opus site was won

The story of The River Opus begins with one of the more closely watched land tenders of the cycle. In April 2026, the Government Land Sales site at Kallang Close closed its tender having drawn four bids — a healthy field for a parcel that marked the first private residential release in the Boon Keng, Kallang Bahru and Kampong Bugis precinct in twelve years.

The winning bid came from a joint venture between Frasers Property and Mitsubishi Estate, at $610.75 million, or about $1,415 per square foot per plot ratio. What stood out was the margin: the top bid edged the second-placed offer by just 0.7%, a razor-thin gap that signalled keen competition for a rare riverside site. The spread between the highest and lowest of the four bids was about 13.9%, reflecting differing views on how to price a waterfront parcel in an uncertain market.

That competitive tension matters for buyers. It tells you experienced developers saw real value in the location — the river frontage, the dual-MRT connectivity, and the scarcity of new private supply in the area. For the full fact set, see the project details; for the parcel itself, the site plan maps the waterfront conditions that shaped every bid.

The result is a development with a strong first-mover narrative. The River Opus is the first to benefit from the long-term transformation of the surrounding precincts, and the tender outcome is the clearest early signal of the site’s desirability.