Frasers Centrepoint Trust (J69U) said on Jul, 15 2026 that a consortium including the trust has lodged the highest bid of 2.1 billion Singapore dollars, or 1,323 Singapore dollars per square foot per plot ratio, for a 99-year leasehold mixed-use site at Bayshore Drive in eastern Singapore.
The 57,460.6-square-metre plot can be built up to a maximum gross floor area of 149,398 square metres (about 1.6 million square feet) and will be directly connected to Bedok South MRT station on the Thomson-East Coast Line as well as a planned bus interchange.
If the tender is awarded, the residential vehicle—SPV (Residential)—plans to build up to 1,280 homes, while SPT (Retail) will own and operate approximately 22,500 square metres of commercial space, including a retail mall with about 14,900-16,700 square metres of net lettable area.
Under the consortium structure, HSBC Institutional Trust Services (Singapore) Limited, as trustee of Frasers Centrepoint Trust, will own 50 percent of SPT (Retail). Frasers Property Phoenix Pte. Ltd., a wholly owned unit of Frasers Property Limited, will hold 37.5 percent of SPV (Residential); the remaining interests are held by subsidiaries of Sunway MCL Limited, Sekisui House, Ltd., and Lum Chang Holdings Limited.
The partners have signed a memorandum of agreement governing the joint venture. The transaction is deemed an interested-person transaction under Singapore Exchange rules, and Frasers Centrepoint Trust’s audit and risk committee has assessed the terms as fair to minority unitholders. The bid remains subject to government confirmation, after which further details will be released.