Frasers Centrepoint Trust wins Bayshore Drive tender for 2.1 billion Singapore dollars

Frasers Centrepoint Trust (J69U) said on Jul, 20 2026 that its consortium has secured the Urban Redevelopment Authority’s mixed-use site at Bayshore Drive with a tender of 2.1 billion Singapore dollars, or 1,323 Singapore dollars per square foot per plot ratio.

The 99-year leasehold plot spans 57,460.6 square metres and allows up to 149,398 square metres of gross floor area, including 22,500 square metres of commercial space. SPT (Retail)—50% owned by the trust—will develop and retain the commercial component, which features a retail mall of about 22,100 square metres gross floor area and 14,900-16,700 square metres net lettable area.

Total development cost for the mall is estimated at 613 million Singapore dollars on a 100% basis, with an expected yield on cost of roughly 5% and targeted completion around end-2030. Frasers Centrepoint Trust plans to fund its 50% share of the commercial development through internal resources and external borrowings over the construction period.

The transaction is classified as a non-discloseable transaction under SGX Listing Manual Chapter 10 and is not expected to materially affect the trust’s net asset value per unit or distribution per unit for the financial year ending Sep, 30 2026.