In the CBD, the group is progressing on its redevelopment plans for Fuji Xerox Towers, a freehold office building, by capitalising on the Urban Redevelopment Authority's CBD Incentive Scheme.
Subject to the approval of the relevant authorities, the plan is to develop a 51-storey mixed-use integrated project on the site, with around 60 per cent of gross floor area (GFA) for residential units for sale and serviced apartments for rent, and the remaining 40 per cent gross floor area for commercial purposes. There is potential for 25 per cent uplift in GFA to about 655,000 sq ft.
The submission for provisional permission is being prepared; demolition-related works are slated to begin in the second half of 2021.