AWARDS: Frasers Property boasts diverse offerings

By Charlene Chin

/ EdgeProp |

October 15, 2018 7:08 PM SGT

Just nine months into FY2018, Frasers Property has bolstered its property development in Vietnam, waltzed into the co-working business with JustCo, and shored up support for its logistics and industrial functions in Europe and Thailand. Now, it has added another feather to its cap — on Oct 3, it was named Top Developer at this year’s EdgeProp Singapore Excellence Awards.

Over the years, Frasers Property has built more than 20,000 homes in Singapore. Among its developments is Seaside Residences, an 841- unit condo in the Siglap neighbourhood. The residential units are spread across two 27-storey towers, orientated to avoid the harshest of sun rays and give residents the “best panoramic sea views”, says Christopher Tang, CEO of Frasers Property Singapore. The two towers are connected by a sky terrace that also serves as a community space for residents.

Seaside Residences won the BCA Green Mark GoldPlus Award this year for its choice of environmentally friendly products. The developer included energy-efficient features for air-conditioning and lifts, as well as charging stations for electric cars.

Launched in April last year, Seaside Residences is now more than 84% sold. The condo is jointly developed with Japan-listed Sekisui House and Keong Hong Holdings, and slated for completion in 2020.

Homes overlooking the river

Rivertrees Residences is orientated to offer views of the Punggol River (Credit: Samuel Isaac Chua/ The Edge Singapore)

While units at Seaside Residences were designed to have views of the sea, another project of Frasers, Rivertrees Residences, banks on its views of the Punggol River. The develop ment — a joint effort with Far East Organi zation and Sekisui House — was laid out such that more than 90% of the units could enjoy views of the river. For the development, Frasers ensured that the landscape design blended in well with the natural terrain and environment, Tang explains.

The 495-condo, off Sengkang West Avenue, incorporated sustainable features, says Tang. These include high-floor balconies and full-height glass façades, which promote ventilation and enable natural lighting for every unit in the development.

Office space and co-working

The pool facility at Seaside Residences (Credit: Frasers Property)

Aside from its residential business, Frasers continues to expand in the commercial space. Frasers Tower, a Grade-A office tower in Singapore’s CBD, has secured a committed office occupancy rate of about 80%, as highlighted in its 3QFY2018 financial results released in August. Anchor tenants include Microsoft Singapore, and French oil and gas juggernaut Total Oil. Other occupants include those in the financial and consumer goods sectors, such as Sumi tomo Corp, Arup, Fonterra and Pacific Life.

The development, on Cecil Street in Singapore’s CBD, is 235m tall and comprises a 38-storey office tower. It features dedicated community zones — The Sky, The Terrace and The Park — which are “designed to encourage interaction and collaboration among tower occupants”, according to Frasers. Facilities provided include foosball tables and resting pods. Meanwhile, an adjacent three-storey retail podium houses F&B operators such as Cedele. The office space received its Temporary Occupation Permit in May and has a total net lettable area of 663,000 sq ft.

Frasers Towers also won the BCA Green Mark Platinum title for practices in sustainability. The greenery at the development is irrigated by recycled water. The building, too, is equipped with systems that optimise energy usage and improve indoor air quality.

In May, Frasers announced its expansion into the co-working business. Frasers and state sovereign wealth fund GIC are investing US$177 million ($245 million) in co-working space provider JustCo. This will enable the latter to expand its presence in Singapore, Indonesia and Thailand.

Looking ahead

Residents at the 841-unit Seaside Residences will enjoy views of the coastline (Credit: Frasers Property)

In 1H2019, Frasers is expected to launch its integrated development on Jiak Kim Street, the former site for iconic club Zouk, which was voted top 3 in the World’s Top 100 Clubs. The property can yield 500 residential units, according to the developer. Located on the banks of the Singapore River, the site is a “prime location that has created many meaningful memories for [Singaporeans]”, says Tang. URA announced that the land was up for sale last December, and Frasers beat nine others for the site, submitting the highest bid of $955.4 million, or $1,733 psf per plot ratio.

Frasers will design and develop the site, taking into account its waterfront location and the elements of its “strong local heritage”, Tang says. “We are confident that, with our expertise, it will be a unique space and destination that will appeal to both local and overseas [target] audiences.”

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EdgeProp Excellence Awards 2018

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