A major consortium has emerged as the frontrunner to develop a landmark mixed-use site in eastern Singapore after lodging a top bid of S$2.1 billion.

The bidding group is made up of Frasers Property Limited, Frasers Centrepoint Trust, Sunway MCL Limited, Sekisui House and Lum Chang Building Contractors. Together, they offered the equivalent of S$1,323 per square foot per plot ratio for the highly sought-after Bayshore Drive Government Land Sales (GLS) site. This figure is 5.8% higher than the second-highest bid submitted during the state tender.

The 99-year leasehold plot represents one of the largest transit-oriented developments launched in Singapore. Covering an area of 57,460.6 square metres, the site allows for a maximum gross floor area of 149,398 square metres. The finished project will connect directly with the upcoming Bedok South MRT station on the Thomson-East Coast Line and a new local bus interchange.

Current plans show that the coastal site will provide up to 1,280 new homes alongside 22,500 square metres of commercial space. This commercial allocation features a new shopping mall with a gross floor area of 22,100 square metres and a net lettable area ranging between 14,900 and 16,700 square metres. It will function as the main retail and transport centre for the developing Bayshore district, which is expected to accommodate up to 10,000 homes over the coming years.

If government officials formally award the tender, Frasers Property, Sunway MCL, Sekisui House and Lum Chang will build the residential sector together. Ownership of the retail mall will be shared between Frasers Centrepoint Trust, Sunway MCL and Sekisui House.

Ms Soon Su Lin, Chief Executive Officer of Frasers Property Singapore, said: “Being the top bidder for the Bayshore Drive site reflects our strong confidence in the long‑term potential of the Bayshore precinct and the East Coast region. As the only mixed-use development and transit hub of Singapore’s new Bayshore waterfront precinct, this represents a defining opportunity to shape a highly connected, liveable and future‑ready community. Together with our reputable partners, we look forward to contributing meaningfully to the evolution of Bayshore as it takes its place among Singapore’s next generation of vibrant residential districts.”

Mr Richard Ng, Chief Executive Officer of the Manager of Frasers Centrepoint Trust, said: “The Bayshore Drive site presents a compelling opportunity for FCT to participate early in the development stage alongside our partners to establish a retail mall in the new precinct. The project allows FCT to harness development as a new growth driver at an attractive yield, while creating a pipeline for future acquisition. This investment is well aligned with FCT’s mandate of owning and managing well-located suburban retail assets anchored by strong transport connectivity and growth potential.”

Mr Lee Tong Voon, Chief Executive Officer of Sunway MCL, said: “We are delighted to embark on our maiden partnership with Frasers Property Group through this landmark Bayshore Drive development. Bringing together the complementary strengths and expertise of our consortium partners, which also include Sekisui House and Lum Chang, we are well-positioned to deliver a highly connected and vibrant mixed-use destination. We look forward to contributing our experience in developing thoughtfully planned communities to create a vibrant destination that will meet the evolving needs of residents while contributing meaningfully to the transformation of Singapore’s East Coast.”

The state land tender remains subject to final government confirmation before any official award is made.