22 May 2026
Pricing
Indicative pricing guidance and preview registrations are open. Use the form below to secure priority access to floor plans.
Vol. 2026 · Issue Nº 01
A Frasers Property × Mitsubishi Estate Development
The River
The River
Opus
A 99-year leasehold residence rising along Kallang Close — the first private GLS launch in Boon Keng, Kallang Bahru and Kampong Bugis in over twelve years.
01 — UPDATES
Latest at The River Opus
Last updated 22 May 2026. Indicative pricing guidance is now open. Use the registration form to receive priority updates as the developer firms up details.
15 May 2026
Design
Schematic layouts and tower orientation studies have been finalised, with riverfront-facing stacks confirmed across the development.
03 May 2026
Public realm
Frasers Property and Mitsubishi Estate have commenced design consultancy on the mandated Kallang Close Riverfront Promenade.
09 Apr 2026
Analyst coverage
Independent analyst coverage from CBRE and Knight Frank places indicative launch pricing in the S$2,700 to S$2,900 psf range.
07 Apr 2026
Tender
Frasers Property Singapore and Mitsubishi Estate emerged as the top bidder for the Kallang Close GLS site at S$610.75 million.
02 — OVERVIEW
Why The River Opus matters now.
A waterfront parcel along the Kallang River, fronting District 12, brought to market by a joint venture of Frasers Property and Mitsubishi Estate.
The site spans roughly 11,456.3 square metres along the Kallang River, with two MRT lines within walking reach. About 470 private homes are planned, plus a community childcare centre that the URA stipulated in the tender brief.
The 99-year leasehold tenure and a plot ratio of 3.5 together yield a maximum gross floor area near 431,611 square feet. Enough for meaningful scale without overwhelming the riverbank.
This is the first private residential parcel released for sale in Boon Keng, Kallang Bahru and Kampong Bugis in more than a decade. Mature amenities surround the site already. The precinct's future is forward-leaning too, with the Kampong Bugis masterplan set to introduce roughly four thousand new waterfront homes along the river.
12+
Years since a private residential GLS site was last released in Boon Keng, Kallang Bahru or Kampong Bugis. The River Opus ends that drought.
Source: URA Government Land Sales records, cross-referenced with Frasers Property press release (07 Apr 2026).
03 — DEVELOPER
Two of Asia's most respected property groups. Their first joint project in Singapore.
Singapore Pedigree
Frasers Property Singapore
Part of Frasers Property Limited, a multinational developer-owner-manager listed on the Singapore Exchange. Operates across five asset classes and multiple regional markets. Within Singapore, the residential portfolio spans both city-fringe addresses and large-scale integrated developments.
Tokyo Discipline
Mitsubishi Estate
One of Japan's three largest real estate companies. Active since 1937, most closely associated with the multi-decade rebuild of Tokyo's Marunouchi business district. Brings refined detailing and material longevity to the partnership.
The tender vehicles are Frasers Property Phoenix and MJR Investment, which jointly submitted the S$610.75 million winning bid. Read the full developer profile →
04 — LOCATION
Kallang Close. District 12.
Within the Rest of Central Region, technically just outside the prime core, functionally a short commute from every part of the downtown spine.
Indicative diagram
Kallang River frontage
01
Kallang MRT (EW10)
300–400m on foot. Raffles Place in 4 stops. Direct connections to City Hall, Bugis, Tanah Merah.
02
Bendemeer MRT (DT23)
Alternate routing toward Little India, Bugis, Promenade, Bayfront and Marina Bay — without changing trains.
03
PIE · CTE · KPE
All three within a short drive. Orchard Road and Marina Bay reachable in under 15 minutes outside peak.
04
Geylang Methodist · Hongwen · Bendemeer · Farrer Park
A school catchment that has been a quiet strength of this part of the city for years.
05 — AMENITIES
Mature estate. Forward-looking precinct.
The immediate neighbourhood has been continuously inhabited for generations, so daily-needs infrastructure is already in place. Three URA-led initiatives are layering new lifestyle, sport and entertainment options on top.
Retail & dining
- City Square Mall
- Mustafa Centre
- Bugis cluster (within an MRT stop)
- Local wet markets, kopitiams and hawker centres
- Future Kallang Horizon retail
Education
- Hongwen Primary (within 1–2 km)
- Bendemeer Primary & Secondary
- Farrer Park Primary
- Geylang Methodist School
- NAFA, LASALLE, SMU via MRT
Recreation
- Singapore Sports Hub (short drive)
- Kallang Riverside Park (adjacent)
- Park-connector network
- Bishan–City cycling corridor
- Kallang Alive Masterplan precinct
06 — INVESTMENT THESIS
The math behind the indicative price.
Developer pricing is structurally anchored to land cost, with typical margins of 20–25% above all-in development cost. Here is the bridge from S$1,415 psf ppr to the analyst-consensus indicative range.
| Land cost (psf ppr) | S$1,415 |
| Construction & M&E | ~ S$380 |
| Professional fees, financing, marketing | ~ S$150 |
| Estimated all-in cost | ~ S$1,945 |
| Developer margin (20–25%) | ~ S$389–S$486 |
| Indicative break-even to launch range | S$2,700–2,900 |
Analyst estimates — CBRE (Tricia Song): S$2,700–2,800 psf · Knight Frank (Leonard Tay): from S$2,900 psf, averaging above S$3,000.
Analyst-consensus indicative launch range
S$2,700—2,900
PSF · official pricing subject to developer release
Lower floors (1BR+S, 2BR)from ~ S$2,700
Mid floors (3BR, 4BR)~ S$2,750–2,850
High floors, river-facing~ S$2,850–2,900
Against the area
| Benchmark | Period | Median PSF | Note |
|---|---|---|---|
| Kallang area · resale | 2Q25 – 1Q26 | S$1,774 | URA REALIS median |
| Kallang area · new sale | 2Q25 – 1Q26 | S$2,758 | URA REALIS median |
| Tanjong Rhu Road GLS (recent) | 2025 | S$1,455 ppr | Comparable parcel land rate |
| The River Opus (estimated) | 2026 launch | S$2,700–2,900 | Analyst-consensus indicative range |
07 — PREVIEW
Strictly by appointment.
Slots are released progressively to registered enquirers as the launch programme firms up. Each viewing is unhurried — approximately 45 minutes to an hour.
Reserve a SlotWhat you will see
- Scale model — tower positioning, riverfront promenade, surrounding infrastructure
- Materials boards — indicative finish palette and tactile samples
- Representative unit — walk-through with attention to morning light and ventilation
- Direct Developer Price — no commission payable; first-come, first-served basis
08 — FAQ
Questions, answered.
01 What is The River Opus and where is it located?
A forthcoming 99-year leasehold waterfront residential development at Kallang Close in District 12, fronting the Kallang River within the Kallang Planning Area. The site sits within the Rest of Central Region. It is the first private residential GLS project to launch in Boon Keng, Kallang Bahru and Kampong Bugis in over a decade.
02 Who are the developers?
A joint venture between Frasers Property Singapore and Mitsubishi Estate of Japan, with tender entities registered as Frasers Property Phoenix and MJR Investment. The first collaboration between the two groups in Singapore.
03 How many units?
Approximately 470 private residential homes alongside a childcare centre, the latter forming part of the URA tender conditions. The final unit count will be confirmed closer to launch.
04 What is the nearest MRT?
Two MRT stations on separate lines are within walking distance. Kallang MRT on the East-West Line is approximately 300–400 metres away. Bendemeer MRT on the Downtown Line is also a short walk. The dual-line coverage gives residents flexible routing to the CBD, Bugis, Marina Bay and the broader downtown.
05 Is it a good investment?
The case rests on three pillars. Scarcity: first private GLS launch in the area in over twelve years. Transformation: Kallang Alive Masterplan, Kampong Bugis transformation, Kallang River corridor rejuvenation. Fundamentals: close to one thousand HDB flats reaching MOP 2026–2028 and 176 million-dollar HDB transactions in 2025 in the catchment. Independent analyst guidance places indicative launch pricing at S$2,700–2,900 psf.
06 What facilities can residents expect?
The official facility list will be released with the site plan closer to launch. Residents can anticipate a resort-style suite: pools, gym, function and entertainment pavilions, landscaped gardens, children's play areas, and a childcare centre on site. The mandated Kallang Close Riverfront Promenade adds a unique public-realm dimension along the river edge.
07 How do I book a showflat viewing?
Previews run strictly by appointment. Complete the registration form on this page or call 6200 6220 to speak with our project consultant. Registered enquirers receive priority access along with the official e-brochure, floor plan and price list as soon as they release.
09 — REGISTER
Reserve your preview.
Priority access to the official e-brochure, floor plans, site plan and showflat appointments at The River Opus.
- First to receive the official e-brochure and floor plans upon release
- Invited to the VVIP preview ahead of the public
- Guaranteed Direct Developer Price — no commission payable
- Contacted by our consultant within one business day
- Strictly no spam policy — your data is protected under PDPA