As 2023 draws to a close, here’s a recap of the top 10 moments for Frasers Property Singapore — ranging from the completions of quality developments, strategic investment moves, innovative and customer-centric initiatives to our strong efforts in driving sustainability and social impact.
Leadership in Development and Innovation
1. Rivière’s Resounding Recognition
The completion and sell-out success for Rivière, our latest development offering 455 units of luxury residences in two 36-storey towers, is a significant achievement this year. Setting new standards for high-end living with its modern contemporary design, the residential development is part of our larger precinct by the Singapore River, consisting of three meticulously restored warehouses and the Group’s sixth serviced residence in Singapore.
The historic warehouses along Jiak Kim Street have been transformed into a lifestyle hub, including a reception for Fraser Residence River Promenade, versatile event space, and a food and beverage outlet set to open in early 2024. To pay homage to the historical significance of the Singapore River, we put in place a heritage trail with information panels and art sculptures fronting the river, creating an engaging experience for residents and visitors alike.
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Rivière’s success was crowned by significant industry recognition.
Rivière was recognised for its innovative smart design features at the EdgeProp Excellence Awards 2023, reflecting our commitment to a seamless homebuyer experience which involves customer-centric services supported by digital platforms like mobile apps and webinars.
The development also won best in country honours at the PropertyGuru Asia Property Awards Grand Final — Best Waterfront and High-rise Condo Development in Singapore — showcasing our expertise in creating exceptional living spaces.
These were among the 10 accolades that Frasers Property Singapore clinched at the regional and local awards, in recognition of our robust development capabilities in residential and mixed-use projects. Most notably, Frasers Property Singapore bagged regional honours as the Best Mixed-Use Developer (Asia) in addition to local awards such as Special Recognition in ESG as well as Sustainable Design and Construction.
2. Awarded Government Land Sales site at Lorong 1 Toa Payoh
Our Investment Business Development & Strategy team, working with the Residential team secured the prime site at Lorong 1 Toa Payoh, a stone’s throw away from Braddell MRT Station and the first new residential site in Toa Payoh in eight years. Together with our reputable partners, City Developments Limited and Sekisui House, we look forward to this rare opportunity of delivering an iconic residential development in the highly established and popular estate of Toa Payoh. We envision the project to provide close to 800 units of quality homes with excellent connectivity to transport networks and amenities as well as offer panoramic views of the MacRitchie Reservoir area.
3. Strategic Expansion: The NEX Big Thing and Increased Stake in Waterway Point
This year, we made two key investment moves which underscore our strategy in strengthening to our platform of quality suburban retail spaces. Frasers Centrepoint Trust (FCT), together with Frasers Property, completed the joint acquisition of a 50 per cent stake in NEX in February 2023 valued at SS$1.04 billion and it is one of Singapore’s largest retail real estate transactions in 2023. FCT also completed the acquisition of an additional 10 per cent interest in Waterway Point to raise its total stake in the mall to 50 per cent. These two acquisitions strengthened FCT’s leadership position in the suburban retail market and established Frasers Property as the largest suburban retail mall owner and operator in Singapore.
The malls are easily accessible to the surrounding residential populations and commuters as they are well-integrated with transportation nodes.
4. Alexandra Point Reopens the Past to the Future
We completed the S$40 million asset enhancement initiative for Alexandra Point in September, a significant milestone to unlock value of the property and transform the development into a workspace of the future. This transformative exercise blends heritage and modern design, creating sustainable and inspiring experiences for tenants.
The building, having earned the Green Mark Platinum Award and WiredScore Platinum rating, showcases our commitment to environmental sustainability and digital innovation. End-of-trip facilities such as lockable bicycle racks, showers, changing rooms and lockers support our tenants by promoting an active lifestyle and greener commute. Additional amenities such as a lobby café and nursing rooms bring greater convenience to our tenants and ensure a more inclusive experience for working mothers.
The refurbished development also houses Connect @ Alexandra Point, a 12,000 square feet co-working facility designed to encourage community engagement and further elevate the offerings for our tenants. Catering to the evolving needs of tenants and visitors, the space features a variety of shared meeting rooms, which are designed for flexibility, accommodating a range of purposes from casual networking encounters and workshops to board presentations and even townhalls, with the capacity to host up to 110 people.
Alexandra Point is equipped with sustainable features like solar panels and high-performance double-glazed low-emissivity glass panels.
5. Wiring Success with Digital Innovations
Frasers Tower is one of two developments certified SmartScore Gold.
In June, Frasers Property was the first organisation in Singapore to receive four WiredScore Platinum certifications, showcasing our dedication to digital innovation and creating the Future of Work experience for our customers. Our commercial developments Frasers Tower, Alexandra Point, and Alexandra Technopark (Blocks A and B) earned these certifications for their top-tier digital infrastructure, ensuring superior connectivity for tenants.
Attaining SmartScore Gold for Frasers Tower, a global recognition for exceptional buildings, further underscores our dedication to smart, efficient, and sustainable building design. Our tenants enjoy the benefits of the advanced MyICEPortal building management system, which improves functionality and interaction efficiency between tenants and property management, enhancing the overall workplace environment.
6. Safety First: Innovative Magnetic Bollards Initiative
We set a new safety standard in retail spaces by piloting Singapore’s first magnetic bollards at Tampines 1, with the support of the Building and Construction Authority (BCA). These magnetic bollards, which are removable during emergencies, led to a 50 per cent reduction in escalator incidents involving prams, trolleys, and bulky items, and is the brainchild of the operations team from Tampines 1!
Following the success of the pilot at Tampines 1, it has been extended to other malls like Causeway Point, The Centrepoint, and Tiong Bahru Plaza. We will continue to work with BCA to explore more ways to enhance escalator safety.
The magnetic bollards are designed to be easily installed, sturdy and resistant to prevent dislodgment.
Commitment to Sustainability and Environmental Stewardship
Ms Soon Su Lin, CEO, Frasers Property Singapore, receiving the award at the GRESB Regional Results Award Ceremony.
7. Sustainability Scoreboard: GRESB’s Star Performance
Our consistent dedication to sustainable practices was acknowledged by the Global Real Estate Sustainability Benchmark (GRESB) in 2023, where Frasers Property Singapore earned the Regional Sector Leader in the “Asia’s Diversified – Office/Retail (non-listed)” category. Additionally, Frasers Centrepoint Trust (FCT) maintained its GRESB 5-Star rating for the third year in a row. Positioning Frasers Property Singapore and FCT in the top 20 per cent globally within the GRESB benchmark, the 5-star ratings underscore our dedication to a net-zero future by 2050.
8. Green Financing Innovation: Banking on a Sustainable Future
Frasers Centrepoint Trust announced in July 2023 that it is the first in Singapore to partner with OCBC on its green loan offering with carbon credits, which together with its other decarbonisation efforts will enable Tampines 1 to make progress towards carbon-neutral status encompassing all energy-related emissions. Under this partnership, the green loan will be used to refinance a maturing facility, to finance Tampines 1’s AEI and various decarbonisation projects for Tampines 1 mall. The carbon credits under the solution can be used to offset the residual emissions of the mall’s carbon footprint.
The green financing solution, together with FCT’s decarbonisation efforts, will enable Tampines 1 to make progress towards carbon-neutral status that encompasses Scope 1, 2 and energy-related Scope 3 emissions.
In August, the Group announced that its joint venture entity had drawn a five-year green term loan club facility totalling $1.08 billion. The proceeds were utilised to refinance a maturing green term loan facility for Frasers Tower, our premium Grade A commercial building with Green Mark Platinum in Singapore’s Central Business District.
9. Sharing Sustainability: Making Retail Greener Together
At the retail tenant engagement event on 14 July, “Building a Greener Retail Ecosystem Together”, over 100 partners and tenants from Frasers Property Singapore's retail malls convened. Esteemed panellists from McDonald’s, FairPrice Group, and Green Lab led a panel discussion on sustainable business practices, highlighting our shared commitment to sustainability in retail.
(From second left to right) Mr Chan Tee Seng, Chief Sustainability Officer, FairPrice Group, Mr Benjamin Boh, Managing Director, McDonald’s Singapore and Mr Muralikrishnan, Group Chief Executive Officer & Founder, Print Lab & Green Lab, joined Chen Fung Leng, Vice President, Investor Relations, Frasers Centrepoint Asset Management, in a panel discussion.
Enhancing Community Engagement and Inclusivity
10. Championing Inclusion: Embracing Diversity in Every Interaction
Since launching the Inclusion Champions Programme in May 2023, about 120 employees from Frasers Property and tenants have undergone 700 hours of inclusivity training in total. Each Inclusion Champion receives six hours of training on how to better assist those with disabilities, dementia, or on the Autism Spectrum, in collaboration with SG Enable, Dementia Singapore, and St Andrew’s Autism Centre. This initiative strengthens our commitment to inclusivity, making our retail spaces more welcoming and accessible to all members of the community.
In November, we rolled out 29 dementia go-to-points across 10 malls where our trained customer service officers and tenants can assist those in need. Seventeen participating stores have designated "Calm Hours" on Mondays and Tuesdays to create a calming environment for neurodivergent individuals and their caregivers. Find out more here.
We are enhancing accessibility through digital solutions such as the Frasers Experience (FRx) app and website, along with improved wayfinding and inclusivity upgrades. As we strive to make our spaces more accessible, we are seeking feedback to refine our methods and encouraging greater tenant involvement in our Inclusion Champions Programme.
In addition to our Inclusive Champions programme, we understand the importance of adopting innovative strategies to address Singapore's transition from an “aged society” to a “super-aged” one. To address this demographic shift, we placed a focus seniors as part of our community investment efforts.
In April, we partnered with The Food Bank Singapore, where volunteers from our team and tenants, including McDonald’s and Metro, packed and distributed food to seniors at NTUC Health Co-operative Limited Senior Day Care. Our staff and tenants had a great time and shared their positive experiences here.
Over the year-end festive period, a volunteer team of 50 staff and tenants across Frasers Property, Starbucks, and Toys “R” Us came together at Waterway Point, Northpoint City and Causeway Point to host over 40 seniors and their caregivers from various active ageing centres for a meaningful day of unforgettable fun and holiday cheer. The seniors enjoyed Singapore’s first wheelchair accessible ice-skating rink and shared a meal together with our volunteers. This is how we strive to make a positive difference in the lives of our communities.
As part of our partnership with National Volunteer Philantrophy Centre, we piloted the Lions Befrienders’ IM-OK programme. Our Singapore-based employee volunteers aided seniors in Queenstown and Tampines in using the IM-OK device, thus improving their well-being and digital literacy. These efforts underline our commitment to assist vulnerable groups and contribute to the well-being of local communities.
A group photo of our Frasers Property Singapore volunteers with their assigned senior.
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Guided by our Purpose – Inspiring experiences, creating places for good. – we strive to create lasting positive impact on people, businesses, and the communities our properties operate in. As we approach the year ahead, we will continue to leverage our established commercial and retail platforms as well as strong development capabilities to deliver quality products, create long-term value as well as positive experiences for our customers. We hope to foster a sustainable and inclusive community for the future through shaping spaces and partnering like-minded businesses and the communities we are in.