Fuji Xerox Towers Redevelopment Into Mixed-Use Building

Fuji Xerox Towers at 80 Anson Road belongs to City Developments Limited (CDL). This was the former IBM Towers. In total, four roads surround the building: Anson Road, Bernam Street, Tanjong Pagar Road, and Keppel Road.

Fuji Xerox Towers:

credit:cdl

Fuji Xerox Towers Singapore Redeveloped Facade:

The ultra-modern and lush landscaped building will replace the former stark office facade.

credit:cdl

Fuji Xerox Towers To Undergo Redevelopment:

As part of the Fuji Xerox Towers redevelopment project in Anson Road, CDL is expected to launch the residential component of the project in 2022. At the end of the redevelopment, the 45-storey mixed-use integrated Fuji Xerox Towers will feature 40% offices and retail, 35% residential units, and 25% serviced apartments. The residential component will have 256 apartment units.

By 1st July, 2021, all tenants of the freehold office building had moved out of their units. The developer, CDL had begun to decommission the building, which is being prepared for redevelopment. Plans for Fuji Xerox Towers redevelopment include having residences, serviced apartments, office spaces, and retail spaces.

Financial Partner Needed To Reduce Gearing:

In August 2021, Sherman Kwek, group chief executive of CDL revealed that they are possibly looking into finding a financial partner for one or more segments of the Fuji Xerox Towers redevelopment project.

This would help the group maintain its gearing at maximum efficiency.

In order to achieve this goal, the Group will hasten its capital recycling initiatives in order to increase liquidity for land acquisition and reduce gearing as much as possible.

Fuji Xerox Towers Locational Attributes:

• 1. Conveniently located near the East-West Line’s Tanjong Pagar MRT station.
• 2. The Tanjong Pagar locale is thriving with commerce, culture and more, with malls such as Guoco Tower and 100AM just 5 minutes away.

Booming Singapore Luxury Property Market:

As price appreciation has boosted prices and attracted foreign buyers to its luxury opment. This integrated Singapore condo market segment, CDL is looking to restock its land bank through en bloc sale.

Q4 2021 Onwards Will See CDL Launching Nearly 2000 Residential Units In 4 Projects:

Canninghill Piers, a mixed-use development, is CDL’s collaboration with CapitaLand. This was launched in Nov 2021 and of which 696 units belong to the residential component. Targeting to launch in May 2022 is the Singapore condo, Piccadilly Grand, located at Northumberland Road. It comprises 407 residential units in this mixed-use development and is directly linked to the Farrer Park MRT Station and City Square Mall. Next in line will be the launch of the executive condominium (EC) at Tengah Garden Walk. Both Piccadilly Grand new condo and Tengah Garden Walk EC are jointly developed with MCL Land (a wholly-owned subsidiary of HongKong Land). Last but not least will the 45-storey tall Fuji Xerox Towers redevelopment into an integrated project with 256 residential units.

Fuji Xerox Towers is a freehold development in downtown city. It is definitely a great investment opportunity for investors.

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source:https://www.srx.com.sg/singapore-property-news/61651/cdl-looks-to-launch-nearly-2000-units-in-4-singapore-projects?utm_medium=TheBusinessTimes