Frasers Property (SGX:TQ5) and Sekisui House (TYO:1928) will jointly develop a 999-year leasehold site of Robertson Walk and Fraser Palace Robertson Walk into a waterfront residential and lifestyle hub, according to a filing with the Singapore Exchange on Monday.
The site has a gross floor area of 30,664 square meters and is part of the government's plans for the rejuvenation of the Singapore River Planning Area.
Frasers Property has a 51% stake in the development project, while Sekisui House holds the remaining 49% stake.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.