: Value Investing Forum - Singapore, Hong Kong, U.S.

Full Version: Fraser Residence Promenade
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The next new launch in the Robertson Quay area will be that of Fraser Residence Promenade Riviere.  This is a mixed development, comprising residential homes, serviced apartments, and retail shops including F&B outlets.  It will be launched by Frasers Property, likely around the middle of 2019.  This 445 unit Riviere Frasers development is generating plenty of interest.  Its location at the Jiak Kim Street site was where Zouk was for 26 years before it finally closed in December 2016.

Given this prime location and nostalgia factor, the sale of this site under the Government Land Sale (GLS) programme was hotly contested.  Frasers Property (then known as Frasers Centrepoint) won the land bid with an offer of $955.4 million in December 2017.  This works out to a boggling $1,733 per square foot per plot ratio, setting a record for 99 year leasehold land in the area.  Hence the spotlight is likely to shine on this Riviere condo project when it launches this year, as it is seen as a "trophy" property, with a prominent frontage right on the banks of the Singapore River.  Its launch is also likely to have a spillover effect onto that of its neighbours.