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Sign in Sign up for a FREE subscriptionCapitaLand Development JV proposes $6.3b Singapore mega-project
A joint venture between CapitaLand Development, City Developments Limited (CDL) Frasers Property, Mitsubishi Estate and Mitsui Fudosan has submitted proposals for the 3.93 million-square-foot integrated development in Jurong Lake District, Singapore, reported Singaporean media outlets.
CapitaLand Development, CDL and Frasers Property will each hold a 25 percent stake in the consortium, while Mitsubishi Estate and Mitsui Fudosan will each hold a 12.5 percent stake.
The two proposals are for a site for a suburban Singapore project, estimated to be S$8.5 billion ($6.3 billion). The site comprises three plots of land linking the existing commercial center at Jurong East MRT interchange station to the future Jurong Lake District station of the Cross Island Line in the new precinct. The new mixed-use developments on the site are envisioned to be progressively developed over the next 10 years to 15 years and be well-integrated with public spaces and amenities to provide a dis
