A consortium led by Frasers Property—controlled by Thai billionaire Charoen Sirivadhanabhakdi—submitted the top bid of S$2.1 billion ($1.6 billion) for a mixed-use waterfront residential and commercial site in the upscale Bayshore precinct in eastern Singapore.

The Frasers Property-led consortium also includes Sunway MCL, the Singapore-based developer controlled by Malaysian billionaire Jeffrey Cheah, Japan’s Sekisui House and Lum Chang Building Contractors.

The top bid for the 618,506-square-feet (57,460 square-meter) site on Bayshore Drive, equivalent to S$1,323 per square foot per plot ratio, is about 5.8% above the second-highest bid, which came from a consortium led by billionaire Kwek Leng Beng’s City Developments. A group led by UOL Group—controlled by........

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