CapitaLand Development, CDL and Frasers Property will each hold a 25% stake in the consortium. Mitsubishi Estate and Mitsui Fudosan (Asia) will each hold a 12.5% stake. — The Straits Times
SINGAPORE: A consortium of five real estate heavy hitters have jointly bid for the tender of a master developer site in Jurong Lake District, which is set to become Singapore’s largest business district outside the city centre.
The consortium comprising CapitaLand Development, City Developments (CDL), Frasers Property, Mitsubishi Estate and Mitsui Fudosan (Asia) submitted two bids with different concept proposals for the 6.5ha government land sales white site – consisting of three plots – at the close of the tender on March 26.
