SINGAPORE – Frasers Property and Mitsubishi Estate will jointly redevelop Valley Point and Frasers Suites Singapore – both on River Valley Road – into a 999-year, mixed-use development, the companies said on Sep 30.
The development will comprise 407 luxury residential units and sky villas, 184 units of Frasers Suites serviced residences and dining, retail and lifestyle outlets.
Frasers Property will hold a 51% stake in the joint venture, with Mitsubishi Estate taking 49%.
The redevelopment follows a review and restructure of the group’s Frasers Hospitality Trust’s (FHT) portfolio after FHT was taken private in 2025, which gave Frasers Property 100% ownership of Fraser Suites Singapore.
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.
“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,” said Soon Su Lin, who stepped down as chief executive officer of Frasers Property Singapore on Oct 1 and now serves as adviser supporting group chief executive Panote Sirivadhanabhakdi.
The shares of Frasers Property closed unchanged at S$0.97 on Sept 30. THE BUSINESS TIMES
