Thai Billionaire's Property Firm Sells Singapore Landmark Asset

Strategic Disposal in Prestigious Location

Frasers Property, controlled by Thai billionaire Charoen Sirivadhanabhakdi, is divesting its residential block in The Centrepoint complex at Orchard Road, Singapore's premier shopping district. The sale, valued at S$ 418 million (approximately US$ 326 million or Rp 5.4 trillion), includes 66 residential units and 66 retail units within the iconic shopping mall.

Property Details and Development Potential

The Centrepoint, built in 1983, sits on a 44,700 square foot leasehold land parcel. The property has significant redevelopment potential into a mixed-use project up to 10 stories high, with a maximum buildable gross floor area of 250,320 square feet. This potential is contingent on buyers investing an additional S$ 260 million to extend the land lease for 99 years and increase the plot ratio to 5.6 times.

Market Positioning and Accessibility

The property's prime location in the heart of Orchard Road, with direct connectivity to Somerset MRT station, makes it an attractive acquisition for developers seeking to create an iconic landmark. The complex's existing retail presence and residential components offer a comprehensive development opportunity.

Transaction Structure

The sale, being marketed by Savills Singapore, includes both residential and retail components of The Centrepoint. However, it's worth noting that 151 other retail units within the mall, which sits on freehold land, are not part of this transaction. The tender process for the sale is set to close on February 26, 2026.