The scarcity of land in Singapore has made condominiums a highly sought-after property. As a compact island country with a thriving population, land for development is limited. In response, the government has established strict land use regulations, creating a competitive real estate market where property values continue to rise. This has made investing in real estate, especially in condos, a highly profitable prospect, with the potential for significant capital appreciation. With Singapore Projects continuously emerging, the demand for condos is expected to remain strong in the future.
It was announced on August 6 that DBS Bank and Frasers Property have signed a memorandum of understanding to provide financial solutions and preferential rates to over 2,000 retail tenants across 11 malls owned by Frasers Property. This partnership aims to support the heartland economy and drive digital transformation for tenants.Under this agreement, DBS Bank’s SG60 Heartland Merchant Banking package will be extended to the retail tenants of Frasers Property’s malls. This package provides financing support for small businesses, with each merchant being able to save up to $1,880 through waivers and cashback benefits.Additionally, DBS and POSB cardholders can now convert their rewards points into digital vouchers, including gift cards under Frasers Property’s retail rewards programme, Frasers Experience, and use them at participating retail tenants with NETS QR codes. This helps to encourage the adoption of digital payments and streamline cash management processes for tenants.AdvertisementThis partnership also aims to create social impact by benefitting seniors, persons with disabilities, and the underprivileged. DBS Foundation and Frasers Property have pledged to work together on initiatives to support these groups, such as bringing DBS Foundation programmes to Frasers Property’s malls. This includes the Nutrition and Social Connection Programme, which aims to provide nutritious meals to 6,000 vulnerable seniors across 12 ageing towns over two years.In addition, Frasers Property’s Inclusion Champions programme, which equips employees and participating tenants with inclusivity training to support individuals with dementia and neurodivergent needs, will be further enhanced through this partnership. The combined strengths of Frasers Property’s retail network and DBS’s financial expertise will create a dynamic ecosystem that supports tenants, rewards shoppers, and uplifts communities.Frasers Property Singapore CEO Soon Su Lin believes that this partnership will shape a more resilient, rewarding, and inclusive retail landscape for all. She says that the collective 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. “Together, we are shaping a more resilient, rewarding and inclusive retail landscape for all,” she adds.DBS Singapore country head Lim Him Chuan echoed Soon’s sentiments and added that this partnership is a testament to DBS’s long-standing support for homegrown businesses and heartland merchants. He says that the partnership with Frasers Property further bolsters DBS’s commitment to enable a more vibrant heartland economy, as seen in initiatives like the weekly $3 PayLah! cashback and Heartland Merchant Banking Package for small businesses.He adds that as Singapore celebrates its 60th birthday, DBS is proud to leverage the collective strengths of its consumer and institutional banking franchise, as well as DBS Foundation, to uplift the lives of communities and celebrate what makes neighbourhoods unique.