Frasers Property, Mitsubishi Estate Form JV for Valley Point Redevelopment
MT Newswires
Yesterday
Frasers Property (SGX:TQ5) has partnered with Japan's Mitsubishi Estate (TYO:8802) to redevelop Valley Point and Fraser Suites Singapore into a luxury 999-year mixed-use development, according to a Wednesday filing to the Singapore stock exchange.
The company's shares were up over 1% in Thursday's trade.
To execute the project, the two companies have formed a 51:49 joint venture.
The new development will include around 407 luxury residences and sky villas, a new 184-unit Fraser Suites serviced residence and a selection of dining, retail and lifestyle offerings.
The redeveloped project is set to launch in 2027 and complete in 2031.
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