20 July 2026 · ura-pr26-55 · Urban Redevelopment Authority

Tender award for URA sale site at Bayshore Drive

The Urban Redevelopment Authority has awarded the tender for the site at Bayshore Drive to the highest tenderer, Gemini Residential Pte. Ltd. and Gemini Trustee Pte. Ltd. (as trustee-manager of Gemini Mall Trust).

The site at Bayshore Drive was launched for tender on 30 March 2026. The tender for the site closed on 15 July 2026. The site was offered for sale on a 99-year lease term.

Details of the awarded site and the successful tenderer are provided below:

Location	Allowable development	Site area	Maximum permissible gross floor area (GFA)	Successful tenderer	Tendered price($PSM of GFA)
Bayshore Drive	Commercial and Residential	57,460.6 m²	149,398 m²	Gemini Residential Pte. Ltd. and Gemini Trustee Pte. Ltd. (as trustee-manager of Gemini Mall Trust)	$2,128,000,000.00($14,243.83)

Text as retrieved 19 September 2026 from the Urban Redevelopment Authority release ura-pr26-55, sha256 63a7efafb81c. Site chrome removed; headings, lists and tables kept.

Awards in this release

Bayshore Drive

Gemini Residential Pte. Ltd., parent: Frasers Property Limited (37.5%) / Sunway Berhad (30%) / Sekisui House, Ltd. (25%) / LC Realty Pte. Ltd. (7.5%) and Gemini Trustee Pte. Ltd. (as trustee-manager of Gemini Mall Trust), parent: Frasers Centrepoint Trust (50%) / Sunway Berhad (30%) / Sekisui House, Ltd. (20%): S$2,128,000,000 (S$14,243.83 psm GFA, about S$1,323 psf ppr derived).

Rank 1 of the bids disclosed at the close of 15 July 2026 (ura-pr26-54). The award references that bid; it does not restate it.

Documents

Press releasePublished 20 July 2026
Tender award for URA sale site at Bayshore Drive
Urban Redevelopment Authority · Retrieved 19 September 2026
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