Fraser's Property awarded sale tender for Singapore mall

Fraser's Property awarded sale tender for Singapore mall

Frasers Property’s Sale Tender for Singapore’s The Centrepoint Rear Block Concludes

On February 26, 2026, the tender for the rear block of The Centrepoint, a prime Orchard Road shopping mall in Singapore, closed after being marketed at a guide price of S$418 million ($326 million). The sale, structured as a collective sale, includes 66 residential units and 66 retail strata units, alongside a S$260 million land betterment charge to extend the lease from 52 years to 99 years and increase the plot ratio to 5.6 times. The property, developed in 1983, occupies a 44,700 sq ft leasehold site and is zoned for mixed-use redevelopment into a 10-storey complex with a maximum gross floor area of 250,320 sq ft.

Frasers Property, controlled by Thai billionaire Charoen Sirivadhanabhakdi, already owns 85% of the share value in the rear block, including all retail units and eight apartments. The sale aims to consolidate ownership, enabling a potential redevelopment into a landmark property. Savills Singapore, the exclusive market agent, highlighted the site's strategic advantages, including direct connectivity to the Somerset MRT station and its location in Singapore's premier retail corridor.

The tender aligns with Frasers Property's broader strategy to capitalize on Singapore's resilient real estate market. In June 2025, the company led a consortium that submitted the highest bid of S$491.5 million for a residential plot in Bukit Timah, underscoring its focus on prime urban developments.

With Singapore's home prices reaching record highs in 2025, the Centrepoint rear block's sale reflects growing demand for redevelopment opportunities in central business district locations. The remaining 151 retail units at The Centrepoint, situated on freehold land, are not included in this transaction.

The outcome of the tender will be announced following evaluation, with the property's potential transformation expected to reinforce Orchard Road's status as a global retail and residential hub.

Business Times: (2026), Forbes: (2026), Forbes: (2026), Straits Times: (2026).