Frasers Property and Mitsubishi Estate to redevelop Valley Point and Frasers Suites Singapore

[SINGAPORE] Frasers Property and Mitsubishi Estate on Wednesday (Sep 30) announced that they would jointly redevelop Valley Point and Frasers Suites Singapore – both on River Valley Road – into a freehold, mixed-use development.

The development will comprise 407 luxury residential units and sky villas, 184 units of Frasers Suites serviced residences and dining, retail and lifestyle outlets.

The companies have formed a joint venture to undertake this redevelopment, with Frasers Property taking a 51 per cent stake and Mitsubishi Estate, the remaining 49 per cent.

Kato Shinya, managing director of Mitsubishi Estate Asia, said: “We aim to create a landmark destination that will enhance the Singapore River precinct for years to come by bringing together our complementary strengths and shared vision for quality place-making.”

The development, set to launch in 2027 and be completed in 2031, will have a maximum allowed gross floor area of 54,309 sq m.

Both Valley Point, a retail-and-office property, and serviced residences Frasers Suites Singapore are expected to cease operations on Mar 31, 2027.

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Soon Su Lin, chief executive officer of Frasers Property Singapore, said: “The redevelopment of Valley Point and Fraser Suites Singapore into a mixed-use development reflects our long-term vision to unlock the highest and best use of this prime heritage site of the group along the Singapore River.”

The shares of Frasers Property closed unchanged at S$0.97 on Wednesday.