SINGAPORE, 30 JULY 2025—DBS and Frasers Property announced a three-year strategic partnership to strengthen the heartland economy and create social impact through Frasers Property’s extensive retail network, aligning themselves with national efforts to revitalise Singapore’s heartlands.
The collaboration aims to provide deeper support for over 2,000 retail tenants across 11 owned properties by leveraging Frasers Property’s wide tenant network and footprint as Singapore’s largest prime suburban mall operator. The properties collectively serve nearly half of Singapore’s population and have an average monthly shopper traffic of about 2 million, offering significant reach to uplift local businesses and enhance community engagement.
These include popular suburban malls such as Northpoint City in Yishun, Waterway Point in Punggol, Causeway Point in Woodlands, and Tiong Bahru Plaza, which are strategically connected to key transportation nodes.
The partnership was formalised with a memorandum of understanding signed the morning of 30 July 2025 on the sidelines of Frasers Property’s annual tenant appreciation event, Retail Spark! 2025.
Enhancing the local retail ecosystem
To help retail tenants optimise business costs, DBS and Frasers Property will support their digital transformation by strengthening the adoption of digital payments and collections solutions that help streamline cash management processes.
In addition to DBS’ SG60 Heartland Merchant Banking package, Frasers Property’s retail tenants will also enjoy exclusive financial solutions and preferential rates from DBS. The package provides comprehensive financing support for small businesses, including savings of up to S$1,8802 per merchant through waivers and cashback benefits.
Other areas of collaboration include enabling shoppers at Frasers Property’s malls to unlock greater value from their everyday purchases. This will benefit DBS PayLah!’s 2.9 million customer base and the 1.1 million members of Frasers Property’s retail rewards programme, Frasers Experience (FRx). For example, DBS/POSB cardholders can convert their rewards points into digital vouchers, including Frasers Property’s FRx gift cards, and redeem them at participating retail tenants with NETS QR codes. DBS and Frasers Property will also collaborate on gamified marketing campaigns to create novel shopping experiences.
Creating social impact
Beyond supporting Singapore’s retail ecosystem, DBS Foundation and Frasers Property will collaborate on social impact initiatives to benefit the community, especially supporting seniors, persons with disabilities, and the underprivileged. This includes bringing DBS Foundation programmes such as the Nutrition and Social Connection Programme to Frasers Property’s malls, which aims to reach out to 6,000 vulnerable seniors across 12 ageing towns over two years and provide twice-weekly nutritious meals.
It complements Frasers Property’s flagship Inclusion Champions programme, which equips employees and participating tenants with inclusivity training to better understand and support individuals with dementia and neurodivergent needs, fostering a more compassionate and accessible environment across its properties.
Ms Soon Su Lin, Chief Executive Officer, Frasers Property Singapore, said, “This partnership represents a significant milestone in our journey to elevate the retail experience. As a leading prime suburban mall operator, our malls are strategically located in the heartlands, collectively serving close to half of Singapore’s population. Through the combined strengths of Frasers Property’s extensive retail network and DBS’ deep financial expertise, we are creating a dynamic ecosystem that empowers our tenants, rewards shoppers and uplifts communities. Together, we are shaping a more resilient, rewarding and inclusive retail landscape for all.”
Mr Lim Him Chuan, Singapore Country Head, DBS, commented, “With our roots as the Development Bank of Singapore, DBS has been a longtime supporter of homegrown businesses and heartland merchants. Our partnership with Frasers Property builds upon DBS’ series of initiatives to enable a more vibrant heartland economy, such as our weekly $3 PayLah! cashback that bolsters customer savings, and the Heartland Merchant Banking Package to support small businesses.
“The heartland is where the hearts of our communities meet. As we commemorate Singapore’s 60th birthday, we are pleased to leverage the collective strengths of DBS’ consumer and institutional banking franchise, as well as DBS Foundation, to uplift the lives of our communities and celebrate what makes our neighbourhoods truly unique.”
