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Frasers Property buys remaining stake in The Centrepoint rear block for S$392 million

Frasers Property has acquired the remaining portion of the seven‑storey rear block of The Centrepoint in Orchard Road for S$392 million, increasing its ownership to enable future redevelopment. The rear block comprises 66 residential apartments and 66 retail units on a 99‑year leasehold with about 52 years remaining; the site can be redeveloped into a 10‑storey building with a maximum gross floor area of 250,320 sq ft. The company may also pay an additional S$253.1 million to restore the lease to 99 years and unlock the plot’s full redevelopment potential. » More on forbes.com