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Frasers Centrepoint Trust Consortium Secures SG$2.1 Billion Bayshore Mixed-Use Site

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A consortium involving Frasers Centrepoint Trust (SGX:J69U) has secured a tender for a mixed-use commercial and residential site at Bayshore Drive in Singapore for SG$2.1 billion, according to a Monday filing with the Singapore Exchange.

The trust will hold a 50% stake in the consortium's retail arm via SPT (Retail). Under the arrangement, SPT (Retail), SMCL Urban C2, and Sekisui House (TYO:1928) will develop and retain full ownership of the project's commercial component, while a separate entity, SPV (Residential), will develop the residential section.

The leasehold site spans an area of 57,461 square meters and has a maximum gross floor area of 149,398 square meters.

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