{"id":70605,"date":"2026-07-22T05:40:02","date_gmt":"2026-07-21T21:40:02","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=70605"},"modified":"2026-07-22T05:40:02","modified_gmt":"2026-07-21T21:40:02","slug":"frasers-led-group-wins-singapore-bayshore-site-for-1-65b","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=70605","title":{"rendered":"Frasers-Led Group Wins Singapore Bayshore Site for $1.65B"},"content":{"rendered":"


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The Bayshore Drive site lies directly above the under-construction Bedok South MRT station (Image: Google)<\/p>\n<\/div>\n

A consortium led by Frasers Property has won a mixed-use site in Singapore\u2019s Bayshore precinct for S$2.13 billion ($1.65 billion), giving the developer its second major city-state land award in just over three months as it expands its project pipeline while recycling mature assets.<\/p>\n

The Urban Redevelopment Authority on Monday awarded the 99-year leasehold plot<\/a> to the investor group comprising Frasers Property, SGX-listed Frasers Centrepoint Trust, Malaysia\u2019s Sunway MCL, Japanese builder Sekisui House and local contractor Lum Chang.<\/p>\n

The S$2.128 billion offer translates to S$1,323 ($1,025) per square foot of potential built area and topped the second-place bid led by City Developments Ltd by 5.8 percent. A third offer came from a consortium of CapitaLand Development, UOL and CapitaLand Integrated Commercial Trust.<\/p>\n

\u201cAs the only mixed-use development and transit hub of Singapore\u2019s new Bayshore waterfront precinct, this represents a defining opportunity to shape a highly connected, liveable and future\u2011ready community,\u201d Frasers Property Singapore CEO Soon Su Lin said in a release<\/a>. \u201cTogether with our reputable partners, we look forward to contributing meaningfully to the evolution of Bayshore as it takes its place among Singapore\u2019s next generation of vibrant residential districts.\u201d<\/p>\n

Waterfront Hub<\/h3>\n

The 618,506 square foot (57,461 square metre) Bayshore Drive site can support up to 1.61 million square feet of gross floor area, including as many as 1,280 homes and 242,188 square feet of commercial space. The project will connect directly to the future Bedok South MRT station on the Thomson-East Coast Line and a new bus interchange.<\/p>\n

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Frasers Property Singapore CEO Soon Su Lin (Image: Frasers Property)<\/p>\n<\/div>\n

Frasers Property, Sunway MCL, Sekisui House and Lum Chang will jointly develop the residential component for sale, while a separate vehicle backed by FCT, Sunway MCL and Sekisui House will develop and retain the commercial portion. FCT holds 50 percent of the retail trust, while Frasers Property owns 37.5 percent of the residential company.<\/p>\n

The planned mall will span 237,882 square feet of gross floor area and provide between 160,000 and 180,000 square feet of net lettable space. Envisioned as the new estate\u2019s town centre, the retail hub is also expected to serve the wider Bedok and East Coast catchment.<\/p>\n

Sunway MCL is the former MCL Land, which Malaysia\u2019s Sunway Group acquired from Hongkong Land last year<\/a> for S$739 million before rebranding its Singapore operations. Japan\u2019s Sekisui House has delivered more than 2.7 million homes, while Lum Chang is a Singaporean contractor with more than eight decades of construction experience.<\/p>\n

\u201cWe are delighted to embark on our maiden partnership with Frasers Property Group through this landmark Bayshore Drive development,\u201d said Sunway MCL CEO Lee Tong Voon. \u201cBringing together the complementary strengths and expertise of our consortium partners, which also include Sekisui House and Lum Chang, we are well-positioned to deliver a highly connected and vibrant mixed-use destination.\u201d<\/p>\n

The new project forms part of a broader Bayshore plan providing roughly 10,000 public and private homes alongside parks, cycling routes and other amenities. The precinct\u2019s first private project is SingHaiyi\u2019s 515-unit Vela Bay, controlled by Gordon and Celine Tang, which sold 72 percent of its homes<\/a> at an average S$2,886 per square foot during its April launch weekend.<\/p>\n

Buy and Sell<\/h3>\n

The Bayshore win comes after a Frasers Property joint venture with Mitsubishi Estate was awarded a residential site at Kallang Close<\/a> in central Singapore for S$610.75 million in April. The 123,311 square foot plot can yield 470 homes overlooking the Kallang River.<\/p>\n

Together, the awards give Frasers exposure to a large transit-oriented waterfront community in eastern Singapore and a mid-sized residential project nearer the city centre, expanding the group\u2019s domestic pipeline across two distinct markets.<\/p>\n

The land purchases are unfolding alongside a capital-recycling campaign focused on mature properties. Earlier this month, Frasers agreed to sell five Melbourne warehouses<\/a> to ESR-REIT for A$276.8 million ($192 million), with the developer describing the disposal as a means of unlocking value and improving capital productivity.<\/p>\n

That transaction followed the sale of Sydney\u2019s Ed.Square Town Centre<\/a> for A$248 million, the A$400 million disposal of Eastern Creek Quarter<\/a> and the A$107.3 million exit from Melbourne\u2019s Burwood Brickworks Shopping Centre<\/a>. Frasers Centrepoint Trust also agreed this month to sell Singapore\u2019s White Sands mall<\/a> for S$467 million.<\/p>\n<\/div>\n


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