DBS and Frasers Team Up to Boost Singapore’s Heartland Economy
DBS and Frasers Property have unveiled a three-year partnership to energize Singapore’s heartland retail scene – supporting over 2,000 tenants with exclusive financial solutions, supercharged rewards programs, and a strong social mission for vulnerable communities.
The partnership, announced on 30 July 2025, aligns with Singapore’s national drive to revitalize its heartland districts. Leveraging Frasers Property’s position as the nation’s largest prime suburban mall operator, the initiative will strengthen support for more than 2,000 retail tenants across 11 shopping malls.
«These malls are strategically located in the heartlands, collectively serving close to half of Singapore’s population,» said Soon Su Lin, CEO of Frasers Property Singapore. «Through the combined strengths of Frasers Property’s extensive retail network and DBS’s deep financial expertise, we are creating a dynamic ecosystem that empowers our tenants, rewards shoppers, and uplifts communities.»
Strategic Collaboration Kicks Off
The initiative was formalised with the signing of a memorandum of understanding (MoU) at «Retail Spark! 2025», Frasers Property’s annual tenant appreciation event. The MoU sets the stage for long-term cooperation in retail innovation, digital payments, and social impact.
«With our roots as the Development Bank of Singapore, DBS has been a longtime supporter of homegrown businesses and heartland merchants,» noted Lim Him Chuan, Singapore Country Head at DBS. «This partnership builds upon DBS’s series of initiatives to enable a more vibrant heartland economy.»
Empowering Tenants with Financial Tools
To help local retailers manage business costs and grow sustainably, DBS will offer Frasers tenants exclusive financial packages, including its SG60 Heartland Merchant Banking suite. This package features savings of up to S$1,880 per merchant through waived fees and cashback perks.
In addition, digital payment adoption will be accelerated across the retail network – helping merchants streamline cash collection, improve transaction speeds, and unlock data-driven insights for growth.
Turning Points into Digital Vouchers
Shoppers will also benefit from this collaboration. DBS PayLah!’s 2.9 million users and the 1.1 million members of Frasers Property’s FRx rewards program can now convert points into digital vouchers like FRx gift cards and use them at participating stores.
Further gamified marketing campaigns are in the pipeline to drive footfall and spending – turning routine shopping into interactive and rewarding experiences.
More Inclusive Public Spaces
The partnership extends beyond commerce into compassion. DBS Foundation and Frasers Property will co-develop programs supporting seniors, people with disabilities, and underserved communities. One flagship initiative, the Nutrition and Social Connection Programme, aims to serve 6,000 vulnerable seniors with nutritious meals over the next two years.
This effort complements Frasers Property’s Inclusion Champions program, which trains mall staff and tenants to recognize and support individuals with dementia or neurodivergent conditions – creating safer, more inclusive public spaces.
Heartfelt Investment in the Future
«The heartland is where the hearts of our communities meet,» added Lim. «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.»
With two powerhouse institutions joining forces, this partnership signals a strong and future-ready commitment to not just revive – but reimagine – Singapore’s heartland economy.
