Frasers Property Consortium Places Top Bid of SG$2.1 Billion for Singapore Bayshore Drive Site
A consortium comprising Frasers Property (SGX:TQ5), Frasers Centrepoint Trust (SGX:J69U), Sunway MCL (KLSE:5211), Sekisui House (TYO:1928) and Lum Chang Building Contractors has emerged as the top bidder for the Bayshore Drive Government Land Sales site in Singapore.The consortium made a bid of SG$2.1 million, 5.8% above the second-highest bid, according to a Wednesday filing with the Singapore Exchange.The mixed-use site spans an area of 57,460.6 square meters and is expected to yield up to 1,280 residential units and 22,500 square meters of commercial area.Depending on the positive outcome of the bid, the parties will jointly develop the residential component, while the commercial component will be developed and fully owned by Frasers Centrepoint Trust, Sunway MCL and Sekisui House.
