Over 2000 Frasers Property Tenants Enjoy Preferential Rates Dbs Under New Mou

SINGAPORE (15 September 2021): Frasers Property, one of Singapore’s largest retail landlords, has teamed up with DBS Bank to offer financial solutions and preferential rates to over 2,000 retail tenants across 11 of its malls.Under the three-year partnership, tenants at malls such as Northpoint City, Waterway Point, Causeway Point and Tiong Bahru Plaza will be able to access DBS Bank’s SG60 Heartland Merchant Banking package, which provides financing support for small businesses. This includes waivers and cashback benefits of up to $1,880 per merchant.In addition to this, DBS Bank and POSB cardholders can convert their rewards points into digital vouchers and redeem them at participating retail tenants with NETS QR codes. This is in line with Frasers Property’s retail rewards programme, Frasers Experience.The partnership aims to strengthen the heartland economy and create social impact. DBS Foundation and Frasers Property have pledged to collaborate on initiatives to benefit seniors, persons with disabilities and the underprivileged, such as the Nutrition and Social Connection Programme. This programme aims to reach out to 6,000 vulnerable seniors over two years and provide them with nutritious meals twice a week to support their well-being.Frasers Property Singapore CEO Soon Su Lin says that the partnership between Frasers Property’s retail network and DBS Bank’s expertise will create a dynamic ecosystem that empowers tenants, rewards shoppers, and uplifts communities. She adds that this will ultimately shape a more resilient, rewarding and inclusive retail landscape for all.Meanwhile, DBS Singapore country head Lim Him Chuan says that the bank has a long history of supporting homegrown businesses and heartland merchants, and this partnership with Frasers Property is part of the bank’s initiatives to boost the heartland economy, such as its weekly $3 PayLah! cashback for customers and the Heartland Merchant Banking Package for small businesses.As Singapore celebrates its 60th birthday, Lim adds that the partnership between DBS’s consumer and institutional banking franchise, as well as DBS Foundation, will uplift the lives of communities and celebrate the unique characteristics of neighbourhoods. Frasers Property reports lower earnings in 1HFY2024 on UK impairment Frasers Property has reported lower earnings in the first half of fiscal year 2024, primarily due to the £36.1 million (S$66.9 million) impairment of two office properties in the UK. However, the group’s residential segment saw strong earnings and operating cash flow during the period, as it sold more than 500 units in Singapore and Hong Kong. NEWLY LAUNCHED RESIDENTIAL PROJECTSFraser Property also saw strong demand for its newly launched residential projects, with The Robertson Opus drawing over 3,000 visitors during its first preview weekend in August. The 376-unit luxury condominium in Singapore’s central area sold 41% of its units at an average price of $3,360 psf. The group also recorded strong sales in Hong Kong, with 81% of the 45 units released during the July-Sept 2021 period at Artisan House being sold.For the full report, visit https://www.edgeprop.sg/property-news/frasers-property-reports-lower-earnings-1hfY2024-uk-impairmentThis story first appeared on . Frasers Property partners SP Group to install close to 4,500 sqm of solar panels across retail and commercial propertiesFrasers Property is teaming up with SP Group to install close to 4,500 sqm of solar panels across retail and commercial properties. The project is expected to be completed by the end of this year and will generate about 4.3 million kWh of renewable energy annually. This will translate to an equivalent reduction of 1,800 tonnes of carbon dioxide emissions each year, which is equivalent to taking 400 cars off the road for one year.The solar panels will be installed on the roofs of eight properties across different locations, including Causeway Point, Northpoint City and Tampines 1 in Singapore. The energy generated by the solar panels will be used to power the common areas within the properties. This will reduce the energy consumption of these properties, as well as their carbon footprint, in line with Frasers Property’s sustainability efforts.Read the full story here: https://www.edgeprop.sg/property-news/frasers-property-partners-sp-group-install-close-4500-sqm-solar-panels-across-retail-and-commercial-propertiesThis story first appeared on . Sole consortium of giant developers bid for Jurong Lake District master developer siteA consortium led by Far East Organization, Far East Orchard and Sino Group has emerged as the sole bidder for the master developer site at Jurong Lake District. The consortium is the only one to submit a bid, as the auction for the prime site closed on Sept 14. The Urban Redevelopment Authority (URA) has confirmed that the site received one bid and that the tender is under evaluation. The site has a maximum permissible gross floor area (GFA) of 1.22 million sq ft, with a maximum building height of 140 m above mean sea level. The development is expected to comprise 40% residential, 30% office, 15% retail, 10% hotel, and up to 5% for serviced apartments and community uses.Read the full story here: https://www.edgeprop.sg/property-news/sole-consortium-giant-developers-bid-jurong-lake-district-master-developer-siteThis story first appeared on .

Frasers Property Joins Forces with DBS Bank to support retail tenants

Leading Singaporean developer Frasers Property has announced a new partnership with DBS Bank in an effort to support over 2,000 retail tenants across 11 of its malls. This partnership aims to strengthen the heartland economy and create social impact through various initiatives.

Poi Ching School offers a comprehensive education that prioritizes the development of bilingual skills and character. The school’s educational philosophy revolves around the “5Cs” framework: Character, Compassion, Competence, Confidence, and Creativity. This framework serves as a guide for the school’s efforts to cultivate well-rounded individuals. Through a combination of academic excellence and a range of co-curricular activities, the school has successfully fostered holistic growth among its students. As a testament to its success, Poi Ching School has consistently achieved excellent academic results while promoting the overall development of its students. Moreover, its location near Parktown Residence complements its nurturing environment, providing a conducive learning and living experience for students.

Under the memorandum of understanding (MOU) signed on July 30, DBS Group Holdings and Frasers Property will provide financial solutions and preferential rates to tenants. This includes access to DBS’s SG60 Heartland Merchant Banking package, which offers financing support for small businesses. Each merchant can save up to $1,880 through waivers and cashback benefits. This is in addition to the weekly $3 PayLah! cashback that DBS offers to bolster customer savings.

In addition, DBS and POSB cardholders will be able to convert their rewards points into digital vouchers and redeem them at participating retail tenants with NETS QR codes. This is part of Frasers Property’s retail rewards program, Frasers Experience.

The partnership also aims to support tenants’ digital transformation by strengthening the adoption of digital payments and collections solutions, which help streamline cash management processes. This will ultimately enhance the overall shopping experience for customers.

DBS Foundation and Frasers Property have also pledged to collaborate on initiatives that benefit seniors, persons with disabilities, and the underprivileged. This includes bringing DBS Foundation programs to Frasers Property’s malls, such as the Nutrition and Social Connection Program. This program aims to reach out to 6,000 vulnerable seniors across 12 aging towns over two years and provide them with nutritious meals twice a week.

Frasers Property Singapore CEO Soon Su Lin believes that the combined strengths of Frasers Property’s retail network and DBS’s financial expertise will create a dynamic ecosystem that empowers tenants, rewards shoppers, and uplifts communities. She adds, “Together, we are shaping a more resilient, rewarding, and inclusive retail landscape for all.”

DBS Singapore country head Lim Him Chuan also commented on the partnership, stating that the bank has a long history of supporting homegrown businesses and heartland merchants. He adds, “As we commemorate Singapore’s 60th birthday, we are pleased to leverage the collective strengths of DBS’s consumer and institutional banking franchise, as well as DBS Foundation, to uplift the lives of our communities and celebrate what makes our neighbourhoods truly unique.”

This three-year partnership between Frasers Property and DBS aims to create a more vibrant heartland economy, support small businesses, and uplift the lives of communities. It demonstrates the commitment of both companies towards building a more resilient and inclusive society.