PETALING JAYA: A consortium comprising Sunway MCL Ltd has topped the bidding for Singapore's Bayshore Drive Government Land Sales (GLS) site with a S$2.1bil (RM6.62bil) bid.
The consortium, led by Frasers Property Ltd and comprising Frasers Centrepoint Trust (FCT), Sekisui House and Lum Chang Building Contractors, submitted a bid of S$1,323 per sq ft per plot ratio, 5.8% above the second-highest offer, according to Frasers Property in a statement.
“The 99-year leasehold mixed-use site spans 57,460.6 sq metres, with a maximum gross floor area of 149,398 sq metres.
“With direct integration with Bedok South MRT station on the Thomson-East Coast Line and a new bus interchange, this makes the project one of the largest mixed-use GLS sites launched in Singapore to date, reflecting Singapore’s continued shift towards transit-oriented developments that integrate homes, daily conveniences and public transport,” it said.
Located within the Bayshore waterfront precinct, the mixed-use development is expected to yield up to 1,280 residential units and 22,500 sq metres of commercial area.
If awarded, Frasers Property, Sunway MCL, Sekisui House and Lum Chang will jointly develop the residential component, while the retail component will be developed and fully owned by FCT, Sunway MCL and Sekisui House.
