http://www.fraserscentrepoint.com/library/docs/press_release/Punggol%20Central%20Site.pdfPress release
For Immediate Release
Frasers Centrepoint Limited, Far East Organization and Sekisui House
Joint Venture Offers $1 billion for Punggol Central/Punggol Walk Site
Singapore, February 15 2011 – Frasers Centrepoint Limited (“FCL”),
together with Far East Organization and Sekisui House (collectively
“Partners”), has tendered for the mixed-use development site at Punggol
Central/Punggol Walk ("Site") at a tender price of $1.02 billion. FCL and
Partners each holds a 33.33 per cent interest.
The Site, which is planned for a mixed commercial and residential
development, has a land area of approximately 322,909 square feet, with a
maximum permissible total gross floor area of 1.4 million square feet. FCL
and its Partners intend to develop this Site into an iconic waterfront
development comprising 680 residential units with excellent waterway
views, and a 365,000-square foot retail mall.
Strategically located at the northeastern part of Singapore in Punggol town
centre, next to the Punggol LRT/MRT station and the future town square,
the Site is the first mixed-use site launched in Punggol Town Centre that
overlooks the widest point of the waterway. The waterway is a key feature
under the “Punggol 21 Plus” plan by the government to realise its vision of
Punggol as a Waterfront Town of the 21st Century.
Mr Lim Ee Seng, Chief Executive Officer of FCL, said, “This successful tender
demonstrates our confidence in the Singapore property market.
Capitalising on the combined strengths and expertise of FCL, Far East
Organization and Sekisui House, this large and unique waterway site offers
us the opportunity to develop an iconic housing and retail space, to be
managed by FCL, in the northeastern part of Singapore. ”
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About Sekisui House, Ltd
Headquartered in Osaka, Sekisui House is the largest home builder in Japan with
business fields from low rise detached housings, medium and high rise condominiums,
to urban development projects. Sekisui House will bring extensive know how and
experience in creating high quality building expertise to this project.
About Far East Organization (
www.fareast.com.sg)
Inspiring better lives
Far East Organization is the largest private property developer in Singapore, with a
growing reputation for building innovative and functional spaces and providing high
quality experiences and value for its customers. Since its establishment in 1960, Far East
Organization has been contributing to the transformation of Singapore’s urban
landscape. It has built more than 700 developments across the full spectrum of real
estate in the residential, hospitality, commercial, and industrial sectors. Far East
Organization owns and operates the largest corporate leasing and hospitality portfolio
in Singapore, including six hotels and 11 serviced residences with over 1200 apartments.
In addition to its private development and investment arm, Far East Organization also
has two public-listed companies, Orchard Parade Holdings Limited, a hotel and property
group, and Yeo Hiap Seng Limited, a 111-year-old industry pioneer of food and beverage
products in Southeast Asia.
Far East Organization is the only developer in the world to win six internationally
acclaimed FIABCI Prix d’Excellence Awards, underscoring its unique achievements in the
international real estate arena.
Media Contacts:
Tay Lay Kheng
Assistant Director, Corporate Affairs
Tel: 6830 6197 / 9762 3897
Email:
taylk@fareast.com.sg Shirley-Ann Ting
Manager, Corporate Affairs
Tel: 6830 6273 / 9762 2848
Email:
shirleyann@fareast.com.sg About Frasers Centrepoint Limited (
www.fraserscentrepoint.com)
Frasers Centrepoint Limited (FCL), the wholly-owned property arm of Singapore-listed
consumer group Fraser and Neave, Limited, is one of Singapore’s top property
companies, with total assets close to S$9 billion. To date, the company has a combined
global land bank in excess of 30 million sq ft.
From owning just a single shopping mall in 1983, Frasers Centrepoint has since grown
to become an integrated real estate company with a portfolio of residential, commercial
and serviced residences spanning 14 countries across Asia, Australasia, Europe and the
Middle-East. Its serviced residences management company, Frasers Hospitality, has
award-winning gold-standard serviced residences in 21 gateway cities. Frasers Property,
FCL’s international property arm, develops world-class projects in UK, Australia, New
Zealand, China, Thailand and Vietnam.
FCL’s listed entities comprise Frasers Centrepoint Trust (FCT, a retail trust), Frasers
Commercial Trust (FCOT, an office/business space trust) and Frasers Property China
Limited (FPCL).
As a testament to its excellent service standards, best practices and support of the
environment, the company is the proud recipient of numerous awards and accolades
both locally and abroad.
Contact information:
Felicia Ho
Head, Corporate Communications
Frasers Centrepoint
Tel: 6318 9266 | 6834 2794
Email:
feliciaho@fraserscentrepoint.com
