Thai billionaire's joint venture to build luxury mixed-use project along Singapore River
A joint venture 51%-owned by Thai billionaire Charoen Sirivadhanabhakdi's Frasers Property will develop a mixed-use project featuring 407 luxury residential units and sky villas along the Singapore River.
Thai billionaire Charoen Sirivadhanabhakdi is partnering with Mitsubishi Estate to develop a luxury mixed-use project along Singapore's River Valley area, near the central business district. The joint venture, which will see Frasers Property owning a 51% stake and Mitsubishi Estate holding the remaining 49%, will span 54,309 square meters and include 184 serviced residences, along with dining, retail, and lifestyle offerings.
The project, set to launch in 2027 and be completed by 2031, will replace Frasers Property's existing retail-and-office property Valley Point and serviced residence Frasers Suites Singapore, which are scheduled to cease operations on March 31, 2027. This collaboration follows a previous partnership between the two companies in April, where they jointly bid for a residential site in Singapore's Kallang area.
Frasers Property, a Singapore-listed property developer, is among the assets owned by Charoen and his family, who are Thailand's fifth-richest individuals with a fortune of $11.6 billion.
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