A consortium led by Frasers Property, including Sunway MCL Ltd, Frasers Centrepoint Trust, Sekisui House, and Lum Chang Building Contractors, placed the highest bid for the Bayshore Drive Government Land Sales (GLS) site in Singapore, with bids ranging between S$2.1 billion and S$2.128 billion depending on sources [1, 2, 3, 4]. The bid price was about 5.5-5.8% higher than the second-highest offer, with a floor price of S$1,323 per square foot per plot ratio [1, 2, 3, 4].
The site covers a 99-year leasehold plot measuring approximately 57,460.6 square meters (about 618,500 square feet) with a gross floor area allowance of roughly 150,000 to 160,000 square meters (1.6 million square feet) [3, 4]. Plans for the development include up to 1,280 residential units, a retail shopping mall with 160,000 to 180,000 square feet of net lettable area, and a bus interchange connected to the nearby Bayshore MRT station on the Thomson-East Coast Line [3, 4].
The project is expected to be completed in four to five years. Starhill Global REIT will manage the retail portion, which accounts for about 15% of the total gross floor area [3, 5]. Frasers Centrepoint Trust’s involvement is expected to put short-term pressure on its distribution per unit (DPU), potentially declining by up to 2%. However, analysts at Jefferies and DBS Group forecast longer-term DPU growth of about 5% once the project stabilizes [5].
Sun Suling, CEO of Frasers Property Singapore, described the site as a key opportunity to create a well-connected, livable, future-facing community. She said, "作为新加坡全新的碧湾滨水区唯一综合发展项目兼交通枢纽，这是个可塑造一个四通八达、宜居且面向未来社区的重要契机" [3].
The tender results remain subject to confirmation by the Singapore government [1, 2, 4]. The Urban Redevelopment Authority announced the bidding results on July 15, 2026, and analyst reports on the project's financial impact followed on July 16 [3, 5].
