City Developments ( SG:C09 ) has released an update. Five of Asia's top developers, including CapitaLand Development, City Developments Limited, Frasers Property, Mitsubishi Estate, and Mitsui Fudosan, have submitted a joint bid for a master developer site in Singapore's Jurong Lake District. The consortium, with equal stakes for the first three and half stakes for the latter two, aims to develop the area into the largest business hub outside Singapore's central region, featuring office spaces, residential units, and retail and entertainment facilities. The project, expected to take 10-15 years, promises to enhance the vibrancy and sustainability of the district with its mixed-use development. For further insights into SG:C09 stock, check out TipRanks' Stock Analysis page.