Frasers Property and Sekisui House have formed a 51-49 partnership to redevelop a site in central Singapore alongside Singapore River and close to Marina Bay.
The site currently houses Frasers Property’s serviced apartment, Fraser Place Robertson Walk and its adjoining commercial area, Robertson Walk, which will continue to operate until May next year. Work on the redevelopment will begin after that.
It will yield a gross floor area of 30,664sqm of residential apartments and commercial spaces.
Soon Su Lin, CEO of Frasers Property Singapore, said: “In line with Frasers Property’s active asset management strategy, we have identified this opportunity to unlock the highest and best use returns for our prime 999-year site in the heart of Robertson Quay.”
She added the proposed redevelopment aligned with the Singapore Government’s rejuvenation plans for the Singapore River Planning Area, which includes Robertson Quay, Clarke Quay and Boat Quay.
Since 2011, Frasers Property and Sekisui House have been partnering and leveraging their development capabilities to deliver mixed-use and residential projects in Singapore and Australia.
In another recent collaboration, Frasers Property formed a joint venture with City Developments Ltd and Sekisui House to develop a residential project in Toa Payoh, Singapore—the first residential site in this densely populated estate in eight years.
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