The Hillshore Developer
Hillside View Development Pte. Ltd., a Subsidiary of FRX Capital Private Limited
The Hillshore is a freehold private condominium of 59 homes at 290 Pasir Panjang Road, Singapore 119476 and 292 Pasir Panjang Road, Singapore 118633, in District 5. The legal developer of record is Hillside View Development Pte. Ltd., UEN 202208309H, holding developer licence C1450, with its project account held at Hong Leong Finance Limited under Project Account No. 101-3003924-9. It is registered at 101 Cecil Street, #26-08/12 Tong Eng Building, Singapore 069533, and it is a subsidiary of FRX Capital Private Limited. Two blocks of 5 storeys stand on 4,249.6 sqm / 45,742.7 sqft of freehold land at Lot 05130C MK 03 on Pasir Panjang Road, and full particulars are set out on our Hillshore project information page.
The site came to the developer through a collective sale rather than a government land tender. Gloria Mansion, a 12 storey freehold development of 31 apartments at 292 Pasir Panjang Road, was sold en bloc for $70.3 million in January 2022 to Fraxtor Capital, now FRX Capital, together with a group led by the family offices of Daniel Teo and his brother Teo Teck Weng. It was the first full residential collective sale transacted after the December 2021 cooling measures, and the sale of the land was subsequently registered on 3 January 2023. Park + Associates Pte. Ltd. is the project architect, Nippon Builders Pte. Ltd. the main contractor, SALD Pte. Ltd. the landscape consultant, Hong How Projects Pte. Ltd. the project manager and Dentons Rodyk & Davidson LLP the conveyancing solicitor.
FRX Capital Private Limited
Company Profile
FRX Capital Private Limited is a Singapore real estate investment and development management company, headquartered at 101 Cecil Street, #26-08/12 Tong Eng Building, Singapore 069533, and overseeing more than $500 million of real estate investment and development projects locally and internationally. It was founded in 2019 by Ms Rachel Teo and Mr Oliver Siah, who between them hold more than 30 years of combined experience in real estate development and investment management across Singapore, Australia, the United Kingdom and Germany. The company was previously known as Fraxtor Capital, and that earlier name still appears on some of its older material and on its corporate profiles, which is a naming history rather than two different companies.
The company is affiliated with the Tong Eng Group and the Hong How Group, and on this project that affiliation is visible in the paperwork rather than only in the introduction. The developer entity is registered at the Tong Eng Building; the project manager appointed to The Hillshore is Hong How Projects Pte. Ltd.; and one of FRX Capital’s directors, Edwin Lam, is general manager of the Hong How Group. The two family offices that acquired the site alongside Fraxtor Capital belong to the same Teo family, who founded both groups.
FRX Capital’s completed and current developments are concentrated in the boutique and landed segments: the Mount Rosie Signature Collection in Goldhill Estate, six homes made up of four terraces and two bungalows; 8 Grove Drive in the Mount Sinai estate of District 10; 3 Merino Crescent in Shepherds Hill Estate, District 3; 56 Kingswear Avenue in the Serangoon Garden estate of District 19; and Arina East. The portfolio is deliberately small, which is the context for reading the awards below: these are boutique and landed categories rather than mass market ones.
Click Here for Enlarged Mount Rosie Signature Collection
At firm level, FRX Capital Private Limited was named one of the BCI Asia Top 10 Developers in Singapore for 2023, at a ceremony held on 30 June 2023. At the 14th PropertyGuru Asia Property Awards (Singapore) it was named Best Boutique Developer and Best Landed Developer, and it also holds Best Boutique Developer (Asia). At project level, the Mount Rosie Signature Collection won Best Housing Development (Singapore) and Best Landed Housing Development (Singapore), was a finalist for Best Landed Housing Development (Asia), and took the EdgeProp Excellence Awards Top Landed Development. The Hillshore itself won Best Boutique Condo Architectural Design (Singapore), was Highly Commended for Best Boutique Condo Development (Singapore), was a finalist for Best Boutique Condo Architectural Design (Asia), and took the EdgeProp Excellence Awards Top Boutique Development.
The architectural design award matters here more than a general developer accolade would, because it is the thing this site is built around. The two blocks are terraced into the Pasir Panjang ridge with a courtyard between them, rather than set flat and turned to face the same way, and that decision is what produces the stepped stack columns, the four level spread of facilities and the double height penthouse volumes described on our Hillshore project information page. For more information, visit www.frxcapital.com.sg.
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