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Yahoo
7 days ago
- Business
- Yahoo
Frasers Property-Sekisui House sells 41% of units at The Robertson Opus at an average price of $3,360 psf
Crows at preview of The Robertson Opus (Photo: Frasers Property/Sekisui House) Over the weekend of July 19–20, Singapore-listed Frasers Property and Japanese developer Sekisui House launched The Robertson Opus for sale. By 6pm on Sunday, July 20, 143 units — or 41% of the 348-unit development — had been sold at an average price of $3,360 psf. 'The robust sales performance at The Robertson Opus is a testament to the project's outstanding design, quality, and prime location, and reflects strong demand for luxury homes in Singapore's city centre,' says Toru Ishii, director of the board of Sekisui House, in a joint statement by the partners. Located in prime District 9, The Robertson Opus is a redevelopment of the former Fraser Place at Robertson Walk. The 999-year leasehold project is part of a mixed-use development that includes a retail podium with a sunken courtyard and 26 units housing a curated mix of fine dining restaurants, cafés, and lifestyle concepts. Get the latest details on available units and prices for The Robertson Opus "The project's rare 999-year tenure, prestigious District 9 address, and sophisticated riverside lifestyle make it a compelling choice for discerning buyers seeking long-term value and generational wealth," says Soon Su Lin, CEO of Frasers Property. The 348-unit The Robertson Opus sits on top of a retail podium with 26 F&B and retail units (Artist's impression: Frasers Property and Sekisui House) The residential component comprises five 10-storey blocks arranged around a landscaped central courtyard. Units sold ranged from $1.369 million for a 431 sq ft suite to $5.39 million for a 1,539 sq ft four-bedroom premium unit. On a psf basis, prices ranged from $3,149 to $3,585. According to Mark Yip, CEO of Huttons Asia, The Robertson Opus is the only 999-year leasehold project launched in the Core Central Region (CCR) this year. Yip highlights the project's location near the Singapore River and Clarke Quay, as well as its accessibility — Fort Canning MRT Station on the Downtown Line is less than a five-minute walk away. River Valley Primary School is also within a 1km radius. Kelvin Fong, CEO of PropNex Realty attributes the healthy sales at The Robertson Opus to 'the vibrancy and convenience of a mixed-use development, where residents are co-located with retail and F&B options'. Showflat of a three-bedroom premium unit where 26 out of 27 units have been taken up (Photo: Samuel Isaac Chua/EdgeProp Singapore) Owner-occupier demand, long-term investment Of the 27 three-bedroom premium units, 26 were sold at prices ranging from $3.699 million to $4.039 million ($3,211 to $3,506 psf). Eight of the nine four-bedroom premium units were also taken up, at prices between $5.15 million and $5.39 million ($3,346 to $3,502 psf). These units form part of the Legacy Collection, which is now nearly sold out — underscoring strong demand for larger, premium homes, says the joint developers. Read also: The Robertson Opus draws over 3,000 visitors during first preview weekend Two- and two-bedroom plus study units accounted for about 45% of total sales, with prices from $2.17 million to $2.63 million ($3,149 to $3,540 psf). Three-bedroom units, including the premium types, made up nearly 39% of take-up, priced between $3.1 million and $4.039 million ($3,079 to $3,506 psf). Together, these unit types comprised approximately 83% of all units sold. Frasers Property notes that around 83% of buyers are Singaporeans, 16% are Permanent Residents — primarily from China and Indonesia — and the remaining 1% are foreigners from the USA and Switzerland. 'The buyers comprise affluent professionals purchasing for their own stay or investment,' says Soon. Limited supply in the Robertson Quay subzone The last freehold or 999-year leasehold project launched in the area was the 376-unit freehold The Avenir over five years ago. The luxury development, by a joint venture between Hong Leong Holdings, GuocoLand, and Hong Realty, was launched in January 2020 and completed last year. Based on 11 caveats lodged in 2025 to date, the average transacted price was $3,423 psf. Latest transactions at The Avenir Source: EdgeProp Buddy Marcus Chu, CEO of ERA Singapore, estimates that there are fewer than 5,000 non-landed private homes in the Robertson Quay subzone. 'Currently, there are no other new projects with similar features in the pipeline,' he says. 'This supply limitation, coupled with sustained demand for central living, makes The Robertson Opus a compelling mid- to long-term investment.' Upcoming launches in prime areas Two other prime projects were also previewed over the same weekend: the 524-unit River Green by Wing Tai Holdings at River Valley Green in prime District 9, and the 596-unit Promenade Peak by Allgreen Properties in District 3. While River Green falls within the Core Central Region (CCR), its proximity to Promenade Peak — technically in the Rest of Central Region (RCR) — blurs the lines between the two regions, notes Ken Low, managing partner of SRI. Read also: Frasers Property to preview 999-year leasehold The Robertson Opus at prices starting from $3,150 psf 'In this tightly held enclave near Great World MRT, where new supply is limited and competition is rare, such simultaneous launches offer a rare window for buyers to assess, compare, and act,' he says. Price points have also drawn interest. Promenade Peak is priced from around $2,680 psf, while River Green starts from $2,846 psf — positioning both as compelling options, adds Low. 'The robust turnout at both previews bodes well for their official launch on August 2, signalling positive momentum and healthy buyer appetite,' Low observes. Source: PropNex Research, URA (Q2 2025 as per monthly developers' sales data) 'This weekend's CCR sales are very encouraging and send a positive signal for this sub-market, especially with more CCR launches coming up,' says PropNex's Fong. Check out the latest listings for The Robertson Opus properties See Also: Singapore Property for Sale & Rent, Latest Property News, Advanced Analytics Tools New Launch Condo & Landed Property in Singapore (COMPLETE list & updates) The Robertson Opus draws over 3,000 visitors during first preview weekend Frasers Property to preview 999-year leasehold The Robertson Opus at prices starting from $3,150 psf Frasers Property, Sekisui House and CSC Land JV submits top bid of $1,410 psf ppr for Dunearn GLS site En Bloc Calculator, Find Out If Your Condo Will Be The Next en-bloc HDB Resale Flats Up For Sale, Affordable Units Available
Business Times
01-07-2025
- Business
- Business Times
Frasers Property, Sekisui House launch The Robertson Opus with prices from S$3,150 psf
[SINGAPORE] Property developers Frasers Property and Sekisui House opened The Robertson Opus along Unity Street for a private preview on Wednesday (Jul 2), with public previews beginning this weekend. Prices will start from S$3,150 per square foot (psf). Located at Robertson Quay in District 9, the 999-year mixed-use development comprises 348 homes across five blocks of up to 10 floors. One block consists of just studios and one-bedroom units – primarily for investors looking to rent and others who wish to rightsize their homes, said Kevin Siew, managing director for development management at Frasers Property Singapore, during a media tour on Monday. The other four blocks will see a mix of two, three and four-bedroom units. Prices will start at S$1.37 million for a studio of 431 square feet (sq ft), and S$1.58 million for a one-bedder of 495 sq ft. Two-bedders, sized 689 to 743 sq ft, are priced from S$2.17 million, and three-bedders, sized 926 to 1,152 sq ft, from S$3.1 million. Four-bedders span 1,539 sq ft, with prices starting at S$5.09 million. The project also includes a retail podium with around 26 commercial units on the first floor and basement. It will retain its name Robertson Walk. In total, the entire development spans a land area of 9,102.7 square metres (sq m), with a maximum gross floor area of 30,663.6 sq m and a plot ratio of 3.37. It is a redevelopment of Frasers' serviced residence Fraser Place Robertson Walk and its adjoining commercial area, Robertson Walk – undertaken by Frasers Property and Japanese developer Sekisui House in a 51:49 joint venture. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Siew noted that some tenants that were previously at Robertson Walk have moved to new locations. But, since Frasers' redevelopment will take three to four years, which is the length of most tenancy contracts, it would be 'perfect timing' for the developer to woo back the former tenants, he said. Marketing for the new Robertson Walk will begin in only another two years, given the project's expected completion in 2029. 'We (also) have a very big retail portfolio with around 2,000 leases… as the largest suburban owner-operator of shopping malls (in Singapore),' he added. 'I think that competitive advantage allows us to reach out to a much wider pool of tenants.' First in some time The Robertson Opus will be the first private home launch in the Robertson Quay area since 2019, when Frasers Property's Riviere was marketed. Prices for the 99-year leasehold condominium along Jiak Kim Street started at S$2,580 psf then. Since then, new units have sold at a median price of S$2,822 psf, while sub-sales and resales recorded a median price of S$2,869 psf. The Robertson Opus is also the first 999-year leasehold residential development launched in the neighbourhood in nearly 20 years, and is the only 'essentially freehold' launch this year, noted Siew. The last project with a 999-year tenure launched in its vicinity was the 186-unit The Wharf Residence in 2008. Caveats data showed that the median price of resale transactions in the project was S$2,361 psf in the year so far. Most recently, in late April, a 1,539 sq ft unit changed hands for S$3.68 million or S$2,388 psf. Four new 99-year leasehold projects will be coming up on state land sites tendered in the River Valley Green and Zion Road area. Two of these – Promenade Peak and River Green – are expected to be marketed in the current quarter, while a third, Zyon Grand, could be launched around October. Siew said freehold projects in the prime Core Central Region (CCR) are currently undervalued, with the price gap between the CCR and city fringe narrowing significantly in the past few years. According to statistics from ERA Research, the price difference between newly sold non-landed homes in the CCR and Rest of Central Region (RCR) was just S$59 psf in the first half of 2025. In comparison, the price gap was S$559 in 2024, S$458 psf in 2023, S$569 psf in 2022, and S$682 psf in 2021. Also, the price index of non-landed homes in the CCR has risen 17.9 per cent since 2019, versus the more than 50 per cent increase in both the RCR and Outside Central Region. Siew noted that it is therefore the 'right time' to launch The Robertson Opus, instead of holding it back any further or launching it any earlier. The property, being part of Frasers' land bank, also gives the developer the opportunity to time the market as such. 'We very much intend for (The Robertson Opus) to be the best-selling project in the CCR this year,' he added. Public previews for The Robertson Opus will begin on Jul 5, with sales booking commencing on Jul 19. The project is expected to receive its temporary occupation permit in the first half of 2029, and its expected vacant possession date on Jun 30, 2030.
The Star
26-06-2025
- Business
- The Star
Maiden plot in Singapore's Bukit Timah Turf City snags nine bids as developers jostle for first-mover advantage
SINGAPORE: A consortium led by Frasers Property, Sekisui House and CSC Land Group (Singapore) has submitted a top bid of S$491.5 million in a hotly contested tender exercise for the first residential site in Turf City along Dunearn Road. A total of nine bids were submitted by developers jostling for first-mover advantage in Turf City, which is among key new housing areas in more central locations identified in the Draft Master Plan 2025, and will bring 15,000 to 20,000 new public and private homes to the prime Bukit Timah area. This 13,492 sq m prime district Government Land Sales (GLS) site, which could yield 380 homes, has attracted the highest number of bids since October 2021, when 10 bids were submitted for two smallish sites at one-north, and nine bids were put in for a plot at Lentor, now Lentor Modern, in July 2021, said Tricia Song, CBRE research head for Singapore and South-east Asia. 'We believe the Draft Master Plan 2025 may have boosted sentiment for this Turf City maiden site,' she said. 'The plans for Bukit Timah Turf City look promising, with 15,000 to 20,000 homes, lush greenery, good transport connectivity and 22 heritage buildings being proposed for conservation, including the two grandstands, which will be rejuvenated as community nodes,' she added. Apart from the Dunearn Road plot and an adjacent site that is slated to be launched for tender in December 2025, Wong Siew Ying, PropNex head of research and content, noted there are '20 pure residential plots, three white sites and two residential with commercial at first storey plots potentially lined up in Turf City over the next 10 to 15 years'. Mark Yip, chief executive of Huttons Asia, said the draft masterplan has provided 'more clarity on the land usage in Turf City and reduced risks for developers'. 'The two adjacent residential sites with commercial use at the first storey will provide amenities for the new housing area. Community and recreational facilities and parks will be within a 10-minute walk,' he added. The top bid of $1,410 per square foot per plot ratio (psf ppr) is also the highest since the River Valley Green (Parcel B) plot was awarded to GuocoLand for $627.8 million, or $1,420 psf ppr, in February 2025. Among the nine bidders for the site, the top bid is 3.7 per cent higher than the second highest of $1,360 psf ppr tabled by City Developments. The two close bids suggest that the developers share a good measure of confidence for the site, despite more housing supply slated for this area, Wong noted. Nonetheless, the $1,410 psf ppr bid is still lower than land prices in December 2017, when a nearby plot in Fourth Avenue – now Fourth Avenue Residences – drew seven bids, with a top bid of $1,540 psf ppr, Song said. 'The lower land bids (today) generally reflect higher construction costs, lower efficiency from gross floor area harmonisation and higher potential Additional Buyer's Stamp Duty (ABSD) on both developers and buyers,' she said. Tight competition for the Dunearn Road site was expected as District 10 has only seen a few GLS sites made available in recent years,' Marcus Chu, chief executive of ERA Singapore, said. The most recent site awarded in District 10 was in Orchard Boulevard, now Upperhouse at Orchard Boulevard, which sold for $1,617 psf ppr in January 2024, he added. Justin Quek, chief executive of OrangeTee & Tie, noted that the Dunearn Road site is close to Sixth Avenue MRT Station and some top schools in Bukit Timah, which may fuel pent-up demand from families. Dr Lee Nai Jia, head of real estate intelligence PropertyGuru Group, noted that demand for non-landed homes in District 10 grew steadily in the first quarter in 2025 but fell in April due to heightened macroeconomic uncertainty from geopolitical and trade tensions. 'In May, demand started to rebound, but activity remained below that from a year ago. But a renewed projects pipeline, coupled with (the future project) on the Dunearn Road GLS site, could re-energise interest in this area,' he said. Soon Su Lin, chief executive of Frasers Property Singapore, said this will be 'an exciting opportunity for us to be part of the Turf City masterplan', if awarded. 'Given that the last GLS site in the vicinity was awarded nearly a decade ago, we believe that quality developments, specifically in prime districts 9, 10 and 11, will continue to be highly attractive to home buyers,' she said. - The Straits Times/ANN
Forbes
26-06-2025
- Business
- Forbes
Billionaire Charoen's Frasers Property, Partners Offer Top Bid Of $387 Million For Prime Singapore Plot
Singapore's residential properties are among the most expensive in the world. A consortium that includes Frasers Property—controlled by Thai billionaire Charoen Sirivadhanabhakdi and his family—submitted the highest bid of S$491.5 million ($387 million) for a residential plot in Singapore's upscale Bukit Timah neighborhood. Frasers Property and its partners Japan's Sekisui House and CSC Land, a unit of Beijing-based China State Construction Engineering Corp, outbid eight other groups for the hotly contested plot on the site of the former Singapore Turf City horse racing track until 1999 when it moved to the western Singapore town of Kranji. The government is closing the Kranji race track for good in 2027 and developing a housing estate on the property. Other bidders for the 99-year leasehold site on Dunearn Road include City Developments, controlled by real estate tycoon Kwek Leng Beng and his family, as well as billionaire Wee family's UOL Group, which partnered with unit Singapore Land and privately owned Kheng Leong Co. About 380 residential condominium units can be built on the 13,492 square meter site, according to the Urban Redevelopment Authority. The site is located within a coveted residential enclave near the Sixth Avenue MRT station, Leonard Tay, head of research at property consultancy Knight Frank in Singapore, said in an emailed statement. 'With limited new launches in the area in recent months, pent-up domestic demand particularly from owner-occupiers familiar with Bukit Timah's character and education belt is expected to support interest at [the project's]The project may sell for as much as S$3,200 per square foot, above the effective top bid of S$1,410 per square foot per plot ratio, Tay added. Frasers Property has been stepping up residential developments to tap into resilient demand for luxury homes in the city-state. Last November, it partnered with Sekisui House to redevelop a serviced apartment along the Singapore River near the Raffles Place central business district into a mixed use residential and retail complex. Charoen, 81, is Thailand's third-richest person with a net worth of $10.6 billion based on real-time Forbes data. The self-made billionaire took control of Frasers Property—which owns residential, offices, shopping malls, logistics properties and hotels across Australia, China, Europe and Southeast Asia—following his takeover of Fraser & Neave in 2013. Charoen also owns Chang beer maker Thai Beverages and Bangkok-based developer Asset World Corp.
Business Times
26-06-2025
- Business
- Business Times
Frasers, Sekisui, CSC Land consortium tops nine bids for Dunearn Road site with S$1,410 psf ppr bid
[SINGAPORE] A consortium comprising Frasers Property, Sekisui House and CSC Land has placed the top bid for a 99-year private housing site in Dunearn Road. Its bid of S$491.5 million works out to S$1,410 per square foot per plot ratio (psf ppr). The state tender for the site, which closed on Thursday (Jun 26), drew nine bids. Also bidding at the tender were City Developments; a partnership between Sim Lian Land and Sim Lian Development; and a tie-up involving UOL, Singapore Land and Kheng Leong Company. Other bidders include Kingsford Group and Wee Hur Development. The plot, which can generate about 380 homes, is the maiden government land sale (GLS) site in Bukit Timah Turf City. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up An adjoining plot, zoned residential with commercial at first storey, is slated for launch in December under the confirmed list of the second-half 2025 GLS programme announced recently. It can generate 335 private homes and 1,400 square metres gross floor area of commercial space. The government has planned for 15,000 to 20,000 public and private housing units for Bukit Timah Turf City. Apart from the two GLS sites in Dunearn Road, there are three white sites and more than 20 residential plots (including those with commercial at first storey) that could be made available under the Draft Master Plan (DMP) 2025 unveiled on Wednesday, PropNex noted. 'The plans outlined will establish Bukit Timah Turf City as a self-sustaining neighbourhood with a mix of commercial offerings, healthcare amenities, as well as a school,' said PropNex chief executive officer Ismail Gafoor.
