Project Name : Newport Residences
Redevelopment under CBD Incentive Scheme
Developer: CDL
Following the backdrop of the government's CBD Incentive Scheme announced in 2019, CDL tapped on the Incentive Scheme to commence a redevelopment of the freehold Fuji Xerox Towers, with the redeveloped project called Newport Residences.
As at July 2021, all tenanted units in the freehold office building were vacated, and the group decommissioned the building in preparation for redevelopment works.
The proposed redevelopment will comprise a 45-storey mixed-use integrated project.
Subject to authorities’ approval, 40% will be dedicated for office and retail purposes, 35% for residential and 25% for serviced apartments. The residential component, comprising about 256 units, is slated for launch in 2H 2022.
A number of new launches are expected in the CBD and Marina South area, including:
Artists' Impression of Redeveloped Fuji Xerox Towers
Proposed redevelopment under CBD Incentive Scheme.
46-storey freehold mixed-use integrated development comprising office, retail, residential and serviced apartments
Provisional Permission obtained in May 2021 :GFA uplift by 25% to approx. 655,000 sq ft
As at 1 July 2021, all tenanted units vacated, building decommissioned
A look at the former Fuji Xerox Towers
Furthermore, CDL has also commenced the redevelopment of its former Fuji Xerox Towers located at 80 Anson Road under the CBD Incentive Scheme.
The proposed redevelopment will comprise a 45-storey mixed-use integrated project.
Subject to authorities’ approval, 40% will be dedicated for office and retail purposes, 35% for residential and 25% for serviced apartments. The residential component, comprising about 256 units, is slated for launch in 2H 2022.
CDL's remaining launch expected next year will be the residential component in the Fuji Xerox Towers redevelopment in Anson Road.
All tenanted units in the freehold office building had been vacated as of July 1, and the group is now decommissioning the building in preparation for redevelopment works.
The proposed project will include serviced apartments, offices and retail space.
CDL group chief executive Sherman Kwek revealed at the group's first-half results briefing on Thursday that CDL is looking at potentially bringing in a financial partner for one or more of the components of the Fuji Xerox Towers redevelopment.
In line with that approach, the company will proceed with the redevelopment of the Fuji Xerox Tower in Tanjong Pagar and the Central Mall on Magazine Road, once Singapore government approvals are secured.
CDL plans to build a 51- storey mixed-use commercial, residential and serviced apartment tower with a gross floor area of 655,000 square feet (60,851 square meters) on the Fuji Xerox Tower site at the southern end of the downtown core. The new building will yield 25 percent more GFA than the existing office complex on the site.