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Frasers Property
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seanpent
Supreme |
27-Apr-2026 09:20
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Clearer pattern
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Delvyss
Elite |
22-Apr-2026 09:57
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TP https://www.dbs.com.sg/treasures/aics/templatedata/article/equity/data/en/DBSV/012014/FPL_SP.xml |
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seanpent
Supreme |
22-Apr-2026 09:05
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Been moving fast for the past few sessions. | ||||
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seanpent
Supreme |
20-Apr-2026 11:23
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TP $1.50 ?
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Joelton
Supreme |
20-Apr-2026 10:00
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&lsquo Unappreciated diversified developer&rsquo Frasers Property is an &lsquo attractive privatisation candidate&rsquo : DBS Frasers Property (FPL) is an &ldquo unappreciated diversified developer&rdquo trading at a &ldquo remarkably cheap valuation&rdquo , with its stake in various REITs and listed entities near its market capitalisation of $4.0 billion, says DBS Group Research analyst Tabitha Foo. &ldquo The market is assigning close to zero value to its solid track record as a developer of residential homes in Singapore and Australia, global industrial and logistics sourcing and development platform, and fast-growing hospitality business,&rdquo adds Foo in an April 15 note. Overall, DBS expects &ldquo resilient performance&rdquo from FPL in the coming years on the back of higher revenue recognition from development projects in Singapore, China and Australia steady returns from its industrial, logistics and commercial properties in Europe, the UK, Australia and Asean project completions across its industrial and logistics portfolios and improving outlook for its hospitality business. Within the residential segment, FPL (with its partners) have been awarded two government land sales (GLS) tenders at Dunearn and Kallang Close for a consideration of close to $1.1 billion, offering a total land bank of close to 830 to 850 units. In particular, DBS sees The Centrepoint and Valley Point as &ldquo potential value-unlocking key candidates within its Singapore portfolio to be unveiled over time&rdquo . &ldquo Both assets are well-located within the Core Central Region (CCR) but are relatively mature, and thus present clear opportunities for asset enhancement or redevelopment.&rdquo FPL&rsquo s &ldquo next strategic pivot&rdquo will be to redevelop these legacy assets, which Foo estimates will drive a &ldquo significant&rdquo revalued net asset value (RNAV) uplift. Foo stays &ldquo buy&rdquo on FPL with a $1.50 target price, pegged to a 45% discount to RNAV, lower than a 55% discount previously. Notably, Foo says FPL is an &ldquo attractive privatisation candidate&rdquo , with potential upside to dividends driven by higher profitability ahead. Redevelopment of Valley Point Valley Point is a 999-year mixed-use development in the River Valley Precinct, comprising a 20-storey office tower and a two-storey shopping mall. On the site is also the 255-unit Fraser Suites Singapore, an asset previously owned by the formerly listed Frasers Hospitality Trust. According to DBS, FPL has received written permission for a four-block redevelopment comprising a residential component (417 units), serviced residences (184 units) and a commercial podium with 624,000 sq ft of gross floor area (GFA) in total. While the property is last valued at $351 million, Foo believes its real cost is &ldquo much lower&rdquo . &ldquo Based on the new redevelopment scheme, we estimate that the total gross development value of the site to be $2.0 billion to $2.1 billion, with a profit before tax margin in excess of 40% when launched sometime in 2H2026.&rdquo Reinventing The Centrepoint In February, FPL was awarded the tender for the leasehold rear plot at The Centrepoint for a consideration of $391.9 million, consolidating its ownership of the seven-storey property. The consolidation of the group&rsquo s ownership in The Centrepoint recently is notable as it signals the potential start of a broader asset rejuvenation cycle within Orchard Road, says DBS&rsquo s Foo. The Centrepoint, completed in 1983, is FPL&rsquo s first asset. It also has full ownership of 51 Cuppage Road, a 10-storey office building directly linked to The Centrepoint. DBS thinks FPL could tap the Strategic Development Scheme (SDI) for the combined site. The Urban Redevelopment Authority (URA) introduced the scheme in 2019 to encourage the redevelopment of older buildings in strategic areas, offering bonus GFA to successful applicants. DBS assumes the new development will have a 30% uplift in GFA above current existing plot ratios. This could be a &ldquo game-changer for FPL&rdquo , adds Foo, which could &ldquo unlock higher plot ratios, enhance asset quality and drive stronger long-term returns&rdquo . In addition, gross development value from the site could grow by over five times, says Foo. Strategic strides FPL has undertaken a series of &ldquo deliberate strategic actions in recent quarters&rdquo that Foo believes reflect a &ldquo clearer pivot&rdquo towards active capital recycling, portfolio optimisation and value crystallisation. Execution capabilities are also being strengthened at the corporate level, notes Foo. The appointment of Tony Lombardo as group chief operating officer from Oct 1 is a &ldquo meaningful addition&rdquo , she adds. &ldquo With prior experience as group CEO of Lendlease Group, Lombardo brings deep expertise across large-scale urban regeneration, development and capital partnerships. While his appointment as group COO is positioned primarily around strengthening execution and capital deployment capabilities, we think the addition of a seasoned operator with prior group CEO experience also incrementally deepens the leadership bench, providing the group with greater strategic flexibility over time,&rdquo writes Foo. Shares in FPL have fallen 5.3% to $1.07 year to date. |
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Delvyss
Elite |
10-Apr-2026 12:49
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Frasers Property Ltd Secures Kallang Close Site: Analyst Maintains BUY with SGD 1.50 Target Price | Strong City-Fringe Demand & Land Price Trends 1https://www.minichart.com.sg/2026/04/09/frasers-property-ltd-secures-kallang-close-site-analyst-maintains-buy-with-sgd-1-50-target-price-strong-city-fringe-demand-land-price-trends-1/ |
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Delvyss
Elite |
09-Apr-2026 11:56
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FP seems very under-rated.
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Joelton
Supreme |
08-Apr-2026 10:55
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Frasers Property, Mitsubishi Estate JV pips CDL with $610.75 million top bid for Kallang plot The highest bid of S$1,415 psf ppr is just 0.7% above CDL&rsquo s offer site fetches four bids [SINGAPORE] A consortium comprising Frasers Property and Mitsubishi Estate has placed the top bid of S$610.75 million, or about S$1,415 per square foot per plot ratio (psf ppr), for a private housing site next to Kallang River. The state tender for the 99-year leasehold site near Kallang MRT station drew four bids. The site can generate about 470 private homes. The top bid was just 0.7 per cent higher than the second-highest bid of S$1,405 psf ppr from City Developments. Also bidding at the Urban Redevelopment Authority (URA) tender that closed on Tuesday (Apr 7) was a tie-up between Hong Leong Holdings unit Intrepid Investments and TID Residential it offered S$1,301.49 psf ppr for the site. A partnership between Wing Tai unit Winrich Investment and Metro Holdings&rsquo Metrobilt Construction placed the lowest bid of S$1,242.32 psf ppr. The participation rate was at the lower end of market expectations. Analysts polled by The Business Times on Monday had expected the site to fetch four to nine bids. However, the top bid was within the $1,200 psf ppr to S$1,600 psf ppr forecast by analysts. Frasers Property and Mitsubishi Estate noted after the URA announced the provisional tender results on Tuesday evening that this is the first private residential government land sales (GLS) site to be launched in the Boon Keng, Kallang Bahru and Kampong Bugis precincts in 12 years, &ldquo underscoring the limited supply of new private housing in the area&rdquo . On behalf of the consortium, Soon Su Lin, chief executive officer of Frasers Property Singapore, said the site presents a &ldquo rare opportunity to deliver a top-quality waterfront residential development with a first-mover advantage&rdquo , being the first to benefit from the long-term transformation of the nearby Kampong Bugis and Kallang Alive precincts, as well as the rejuvenation of the Kallang River corridor into a lifestyle destination. The plot is bounded by Boon Keng Road and a new road, to be named Kallang Close, in Kallang Planning Area. The site is located next to Kallang Industrial Estate to the west, and Kallang River to the east. The plot can yield a maximum gross floor area (GFA) of 431,611 sq ft, of which a minimum 5,382 sq ft has to be set aside for a childcare centre. The site is 300 to 400 m to Kallang MRT station on the East-West Line, and 600 to 700 m to Bendemeer station on the Downtown Line. Schools, amenities &ldquo There are no popular primary schools within a 1-km radius,&rdquo noted CBRE research head for Singapore and South-east Asia Tricia Song. That said, Wong Siew Ying, head of research and content at PropNex, noted that several schools can be found about 1 to 2 km from the Kallang Close plot such as Geylang Methodist School (Primary), Farrer Park Primary School, Hong Wen School and Bendemeer Primary School. Nearby amenities include the Upper Boon Keng Market and Food Centre. Kallang MRT station will incorporate a new bus interchange. It is being developed as part of the Kallang Horizon Build-To-Order Housing & Development Board (HDB) flat project, with amenities such as a childcare centre, shops and public space. The site is about 500 m from Aperia mall, which has a Cold Storage supermarket, eateries and retail shops. Kallang Wave Mall in Stadium Place has a FairPrice Xtra supermarket, among other offerings. Analysts noted that there have not been any recent GLS sites launched in the immediate vicinity of the Kallang Close site. For comparison, CBRE&rsquo s Song pointed to city-fringe private housing sites sold at state tenders in the fourth quarter of 2025 and first quarter this year. A site in Dorset Road near Farrer Park MRT station fetched a top bid of about S$1,338 psf ppr at a state tender that closed in October 2025. A Tanjong Rhu Road plot drew a top bid of S$1,455 psf ppr at a February tender this year. Other recent comparables include the Telok Blangah Road site which fetched S$1,326 psf ppr in November, and the residential with commercial at first storey site in Dover Drive &ndash opposite Fairfield Methodist School (Primary) and near one-north MRT station &ndash which drew a top bid of S$1,556 psf ppr in March 2026. Justin Quek, deputy group CEO of Realion (OrangeTee & ETC) Group, said that in 2025, there were only two existing new-launch projects in Kallang Planning Area, both freehold. The Arina East Residences in Tanjong Rhu Road and The Arcady at Boon Keng in Saint Barnabas Lane transacted at average prices of S$2,918 psf and S$2,622 psf, respectively. Observers point to strong demand for the future private housing project on the Kallang Close site, including from HDB upgraders. Said ERA Singapore CEO Marcus Chu: &ldquo Kallang/Whampoa has consistently seen strong resale HDB flat values, with a notable number of million-dollar flat transactions in recent years.&rdquo Since 2025, there have been 176 such transactions, reflecting the area&rsquo s desirability as a mature estate, he added. Based on ERA&rsquo s analysis of information from data.gov.sg, in Q1 2026, median resale prices for four-room and five-room HDB flats in Kallang/Whampoa stood at about S$907,000 and S$995,000, respectively. The 123,314.47 sq ft Kallang Close land parcel is part of a cluster of residential projects to be developed along the Kallang River waterfront. Nicholas Mak, chief research officer at Mogul.sg, noted that based on the Urban Redevelopment Authority&rsquo s Master Plan, there are two residential sites immediately south of the Kallang Close plot. All three plots have a 3.5 plot ratio (ratio of maximum GFA to site area). |
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Joelton
Supreme |
03-Apr-2026 14:02
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Frasers Hospitality to open 18 new serviced and hotel residences across Asia by 2028
Demand continues to be supported by increased cross-border mobility, longer average stays and evolving work-travel patterns
[SINGAPORE] Frasers Hospitality plans to open 18 new serviced and hotel residences across Asia by 2028.
It has secured six new signings across Malaysia, Indonesia, Vietnam, China and Japan. Two of these properties are set to open this year, forming part of a total of seven openings across Asia in 2026.
Demand for serviced residences across Asia continues to be supported by increased cross-border mobility, longer average stays and evolving work-travel patterns, said the company on Thursday (Apr 2).
Eu Chin Fen, Frasers Hospitality chief executive officer, said: &ldquo Our focus is on expanding Frasers Hospitality&rsquo s serviced living portfolio in a disciplined and deliberate way, prioritising markets and formats where demand for longer-stay accommodation is strengthening structurally.&rdquo
She added: &ldquo Our strategy centres on investing in assets and brands that are designed for extended living, are operationally resilient and remain relevant across market cycles.&rdquo
In 2025, Frasers Hospitality recorded &ldquo continued growth&rdquo in corporate bookings across the region, &ldquo reflecting demand for accommodation that supports extended and more flexible living arrangements&rdquo .
The expansion will be led by a new flagship Fraser Suites in Bangkok, opening in the last quarter of 2026. The 261-room property will feature the brand&rsquo s refreshed design and offer serviced accommodation tailored for extended stays.
It will occupy the top 10 floors of a 45-storey premium office tower within the One Bangkok Retail development, a major retail and lifestyle hub in the city centre.
Frasers Hospitality will open two new properties in Malaysia by Q2 2026. They are the 248-room Capri by Fraser, Penang and Fraser Residence Putrajaya with 283 serviced apartments.
In Vietnam, Fraser Residence Hinode City, Hanoi, will open by the end of 2026. It will feature 401 residences within a mixed-use development on the city&rsquo s fringe.
Frasers Hospitality will further expand into China&rsquo s premium rental apartment segment with two new properties under the Modena by Fraser brand in Chengdu in Q3 2026 and Dalian in Q3 2027.
Both properties are targeted at young working professionals and will offer serviced apartments with shared amenities and prime proximity to major transport nodes and employment hubs. Modena by Fraser, Dalian, for instance, will be located near the Dalian Economic and Technological Development Zone.
This follows its launch of the 325-unit premium rental apartment &ndash Modena by Fraser Shenzhen &ndash in January this year.
It will also launch Fraser Residence Wuzhen in Q4 2026. This marks Frasers Hospitality&rsquo s expansion beyond China&rsquo s major urban centres. The 117-unit property offers one- and two-bedroom apartments with fully equipped kitchens.
In Japan, Fraser Place Roppongi Tokyo will introduce 120 serviced apartments. The property features various room types, from studios to two-bedroom apartments, and include a residents&rsquo lounge, as well as indoor gym. It is slated to open in Q3 2026.
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Joelton
Supreme |
13-Mar-2026 13:51
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Frasers Hospitality to spend S$140 million on refurbishing four assets in gateway cities This will add more keys to the hotels and improve operational efficiency [SINGAPORE] Frasers Hospitality has launched a series of asset enhancement initiatives (AEIs) &ndash totalling S$140 million &ndash that will add more keys and improve operational efficiency across four properties. They are Capri by Fraser in London Novotel Melbourne on Collins The Westin Kuala Lumpur and Frasers House, a Luxury Collection Hotel, Singapore. &ldquo Our asset enhancement strategy reflects disciplined capital stewardship and long-term conviction in gateway cities with strong underlying fundamentals,&rdquo said Jason Leong, head of investment and asset management of Frasers Hospitality, on Thursday (Mar 12). He added that the group &ldquo actively curates and reposition&rdquo its portfolio to &ldquo capture evolving demand patterns, strengthen rate positioning and enhance operating leverage&rdquo . The AEIs aim to capture structural demand shifts, including greater preference for experiential and design-led environments, as well as heightened institutional focus on sustainability performance and operational resilience, said the company. &ldquo Collectively, these initiatives are expected to drive revenue per available room (RevPar) and income growth, enhancing asset liquidity and sustaining long-term portfolio strength and resilience within evolving capital market conditions,&rdquo said Frasers Hospitality, a unit of Frasers Property, in a media release Four gateway-city assets The London property was formerly known as Park International Hotel and has been closed since October 2025. It will reopen as Capri by Fraser, Kensington/London in February 2027&ndash marking the global debut of the refreshed Capri by Fraser brand concept. The refurbishment will add nine keys to the property, improving revenue-generating capacity and yield efficiency. It will also include a complete mechanical, electrical and plumbing (MEP) overhaul to improve the site&rsquo s environmental performance and improve its sustainability rating. Comprising seven restored Victorian buildings spanning over 7,000 square metres on Cromwell Road, the 180-unit property will include flexible accommodation formats and social spaces. Another property to be refurbished is Novotel Melbourne on Collins. The phased AEI is expected to be completed by June 2027. It will add 72 keys within the existing structure, improving inventory efficiency and revenue potential. The renovation includes resizing selected room categories. The enhancement is expected to support RevPar uplift, improved margin profile and long-term valuation accretion, said Frasers Hospitality. Meanwhile, refurbishment works at The Westin Kuala Lumpur is slated for completion by July 2027. The guest rooms, lobby and all-day dining venues will be renovated, alongside a full MEP upgrade. Enhancements include refurbishment of guest rooms, the lobby, food and beverage outlets and meeting facilities, alongside a comprehensive MEP overhaul. The hotel will remain operational throughout the programme. The latest announcement comes two months after the group launched its Modena by Fraser Shenzhen property in China. Frasers Hospitality had said that it is undertaking a group-wide repositioning across its portfolio. It also said it will focus on refining core brands, including Fraser Suites, marked by the scheduled opening of Fraser Suites at One Bangkok in Thailand by year end. The new property will feature a &ldquo more sophisticated and uplifted version&rdquo of the brand. |
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Delvyss
Elite |
06-Mar-2026 11:49
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Frasers Property poised for rejuvenation of Centrepoint after buying ' rear plot' for $391.9 milhttps://www.theedgesingapore.com/news/property/frasers-property-poised-rejuvenation-centrepoint-after-buying-rear-plot-3919-mil |
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Delvyss
Elite |
06-Mar-2026 08:59
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Singapore property resilient, a safe haven as geopolitical tensions mount: ERA, Huttonshttps://www.edgeprop.sg/property-news/singapore-property-resilient-safe-haven-geopolitical-tensions-mount-era-huttons |
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Joelton
Supreme |
28-Feb-2026 13:08
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Frasers Property defends turf with S$391.9 million acquisition of The Centrepoint rear block
This will allow the group to consolidate adjoining sites for a major redevelopment in the future
[SINGAPORE] In a move that comes as little surprise to the market, Frasers Property : TQ5 0% has snapped up the rear block of The Centrepoint that was put up for a collective sale, for S$391.9 million.
The price tag is about 6.2 per cent lower than the guide price of S$418 million cited for the prime Orchard Road property, which comprises the residential component of The Centrepoint development and roughly one-third of its retail units.
Soon Su Lin, chief executive of Frasers Property Singapore, said the move &ldquo gives us greater flexibility to unlock the site&rsquo s long-term potential, including assessing broader rejuvenation plans for the area&rdquo .
&ldquo In the meantime, it remains business as usual at The Centrepoint, where we continue to enhance the mall&rsquo s retail offerings and organise year-long marketing activities to attract shoppers to the mall,&rdquo she added.
The deal was brokered by Savills Singapore.
The Centrepoint comprises two components: a freehold front plot and a leasehold rear plot.
The selling price of S$391.9 million values the rear block site at a land rate of S$2,577 per square foot per plot ratio, after including a land betterment charge of about S$253 million to top up the plot&rsquo s lease to a fresh 99 years, and build up the site to its maximum gross plot ratio of 5.6.
Currently, the 44,700 square foot (sq ft) plot has a development baseline of 171,482 sq ft, equivalent to a plot ratio of 3.83.
Frasers Property &ndash controlled by Thai business magnate Charoen Sirivadhanabhakdi &ndash was earlier seen as the most natural buyer and top contender for a deal, as the acquisition will allow it to consolidate adjoining sites for a major redevelopment.
The group could also be looking at amalgamating The Centrepoint site with 51 Cuppage Road, a neighbouring 10-storey office building that it owns. The 99-year-leasehold property, completed in 1998, is directly connected to The Centrepoint via a link-bridge.
Under the Urban Redevelopment Authority&rsquo s Strategic Development Incentive (SDI) Scheme, the developer may take advantage of incentives offered in terms of bonus gross floor area, more intensive land use and/or building height.
The SDI scheme aims to nudge renewal and redevelopment of ageing buildings in core areas, and offers incentives to asset owners combining at least two adjacent sites in a way that can have a strong transformational impact on the area.
Frasers Property owns almost all &ndash about 96 per cent &ndash of The Centrepoint&rsquo s front block, which houses 151 retail units on a freehold plot.
Before the collective sale, the group owned part of the rear block, which contains 66 apartments and 66 retail units on an L-shaped plot with around 52 years left on its 99-year lease. It reportedly held all the retail strata units and eight apartments, adding up to about 52 per cent of the strata area and about 85 per cent of the share value in the rear block.
Jeremy Lake, managing director of investment sales and capital markets at Savills Singapore, said the prime shopping belt &ldquo continues to excite developers&rdquo .
Several Orchard Road properties have been sold via collective sales brokered by Savills in the past five years, including Tanglin Shopping Centre for S$868 million, Ming Arcade for S$172 million, Delfi Orchard for S$439 million and Concorde Hotel and Shopping Mall for S$821 million.
&ldquo In due course, the future redevelopment of these properties will help to transform Orchard Road from a traditional shopping belt into a must-visit vibrant and multi-functional lifestyle destination,&rdquo said Lake.
The Centrepoint was developed by Frasers Property when it was the property division of Cold Storage. It has an occupancy rate of about 98 per cent as at Sep 30.
The mall opened in 1983 and became home to Robinsons, an iconic anchor tenant until the department store moved out in 2014 after 31 years.
Another department store, Metro, moved in but closed in 2019, by which time other long-time tenants including Times Bookshop and Marks & Spencer had also moved out.
Anchor tenants today include French sports retailer Decathlon, co-working operator Justco, and a FairPrice Finest supermarket.
The site is zoned commercial, with a height control of up to 10 storeys.
At The Centrepoint, the 66 residential units include one to three-bedroom units, sized between 732 and 3,003 sq ft.
Retail unit owners stand to gain proceeds ranging from S$840,000 to S$9.3 million, while residential owners will receive between S$2.7 million and S$7.1 million, subject to final adjustments.
Nearby Cuppage Terrace was put up for sale about two weeks after The Centrepoint&rsquo s rear block went on the market, in an expression of interest exercise that closed on Feb 12. Marketing agent CBRE declined to comment when asked about the results. The strip of 17 conservation shophouses on a 28,986 sq ft site was valued at S$250 million.
As at mid-February, the exercise had reportedly drawn more than 50 inquiries from local and foreign developers, end-users, boutique real estate funds, ultra-high-net-worth family offices and corporates.
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Joelton
Supreme |
09-Feb-2026 10:59
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Frasers Hospitality repositions portfolio with move into premium rental apartments China anchors company&rsquo s premium rental push with launch of Modena by Fraser Shenzhen [SHENZHEN] Frasers Hospitality is undertaking a group-wide repositioning across its portfolio, extending beyond its core serviced apartment business into the premium rental apartment segment as it adapts to shifting demand trends. The process kicked off with the launch of Modena by Fraser Shenzhen &ndash a 325-unit premium rental apartment for young working professionals &ndash on Jan 22. The shift reflects changing living patterns and growing demand for premium rentals in China. Travellers and relocating residents are increasingly younger, while fewer senior professionals move with their families. Companies are increasingly deploying project teams for six to 12 months, said Frasers Hospitality&rsquo s chief executive officer Eu Chin Fen. Homeownership has long been a key milestone in Asia, but a decade of low or negative interest rates has pushed property prices beyond the reach of many younger buyers, making renting more common. Meanwhile, alternative investments such as stocks and bonds offer liquidity and flexibility, reducing the need to buy property for wealth accumulation, said Jason Leong, executive director and head of investment and asset management at Frasers Hospitality. Thus, renting gained traction even before Covid-19 &ndash driven by lifestyle preferences and convenience &ndash with the pandemic accelerating this trend and clarifying demand patterns. Long-term rental segment Launched in 2010, the Modena by Fraser brand was originally positioned a notch below the company&rsquo s branded residences such as Fraser Suites and Fraser Residence &ndash catering to short and medium-term stays. Older Modena properties, such as in China&rsquo s Changsha or Wuhan, featured high-end finishes and amenities like swimming pools. &ldquo They don&rsquo t really cater to the mid-tier,&rdquo said Frasers Hospitality&rsquo s chief operating officer Chew Hang Song, adding that the overlap with luxury residences meant missed opportunities in a key segment. Consumer confidence in China, which accounts for about a quarter of luxury spending, has been hit by a prolonged property crisis and job concerns. Hilton has teamed up with UOL to develop NoMad Singapore, a luxury lifestyle hotel. China and India key to Hilton&rsquo s expansion in Asia-Pacific luxury travel market The three red lines were introduced in 2020 as a key part of Beijing&rsquo s attempt to clamp down on a housing boom that fuelled mountains of debt. China developers ceased reporting &lsquo three red lines&rsquo for years Modena by Fraser Shenzhen offers nine room types, from studios of 25 to 31 square metres (sq m) to two-bedroom executive apartments of 88 to 103 sq m, designed for long-stay young professionals. Occupancy is near 70 per cent and set to exceed 80 per cent in 2026, said Chew. Locals, Hong Kong students, Japanese expatriates and white-collar professionals account for a majority of rental enquiries. The 16-storey building sits within the 54-storey Shennan 1001 building and has a 40-year lease expiring in 2057. It was jointly acquired with developer Tishman Speyer in May 2023. Frasers Hospitality also manages Tishman Speyer&rsquo s 307-unit property in Wujiaochang, Shanghai, which soft-opened last May. The US developer had acquired a majority stake in the hotel and converted it into premium rental apartments. Frasers Hospitality said it evaluates each opportunity individually, considering investment and operational factors, capital intensity, and risk-return alignment before deciding on a joint venture. Frasers Hospitality and Tishman Speyer&rsquo s executives at the grand opening of Modena by Fraser Shenzhen in January. PHOTO: FRASERS HOSPITALITY China strategy Beyond the Shenzhen project, Modena by Fraser is central to the company&rsquo s long-term China strategy. &ldquo China used to be a key growth engine, and while growth has slowed, the country remains rich in resources and innovation. It is still producing business for us,&rdquo said Eu. Chew noted that China&rsquo s vast rental market is shaped by its nearly 1.5 billion people, and the increasing number of younger buyers priced out of owning homes. While government-led housing provides affordable options, a gap remains for premium rentals, he said. &ldquo We don&rsquo t compete with mass-market rentals, but we&rsquo re also less expensive than full-service apartments.&rdquo Currently, the asking rent for a one-bedroom apartment of 41 to 76 sq m at Modena by Fraser Shenzhen ranges from 12,000 to 16,500 yuan (S$2,190 to S$3,000), including services such as housekeeping. Two-bedroom units of 75 to 103 sq m range from 20,000 to 28,800 yuan, including services. Rents for mass market one and two-bedders in the Luohu District &ndash where Modena by Fraser Shenzhen is located &ndash range from 3,000 to 6,000 yuan per month. Frasers Hospitality plans to expand the brand to Chengdu and Dalian in the next 12 to 18 months, with openings expected in the first half of the year and late 2026, respectively. The company&rsquo s China strategy focuses on first-tier and 1.5-tier cities such as Chengdu, Wuhan and Hangzhou, which have strong gross domestic product, high incomes and expatriate populations, said Chew. Frasers Hospitality will also strengthen its presence in existing cities and target different customer segments across various locations. The repositioning applies to new developments, while existing properties will be updated gradually according to lifecycle, commercial and market considerations. Frasers Hospitality currently operates 11 Modena properties with over 2,300 keys. While some observers noted a perceived decline in Frasers Hospitality&rsquo s China presence, the company attributed it to ownership factors. For example, it used to manage Fraser Suites Top Glory Shanghai, a serviced apartment that catered to senior expats, before the third-party owner &ndash a subsidiary of Cofco Group &ndash decided to sell the property. It also no longer manages Fraser Place Shanghai Xintiandi and Fraser Suites Nanjing, after owners decided to exit at a high between 2020 and 2023. Product choice varies by markets, said Eu, noting that Fraser Suites, for instance, is popular in the Middle East for larger units. &ldquo We still want to grow and we are still profitable, but we are not just chasing numbers. For every product that we do, we must ensure that it is in the right location, city and has the right business model.&rdquo Said Leong: &ldquo Real estate is getting expensive everywhere, so you must refine the business model. At the end of the day, you ask: for S$100, why should I build this versus other options?&rdquo Other refreshes Outside China, Frasers Hospitality is focused on refining its core brands. The next brand in line for repositioning is Fraser Suites, marked by the scheduled opening of Fraser Suites at One Bangkok in Thailand by year end. The new property will feature a &ldquo more sophisticated and uplifted version&rdquo of the brand. The company operates 22 Fraser Suites properties with over 3,300 keys. Older Fraser Suites may also be refurbished. &ldquo Whether it&rsquo s Fraser Suites or it&rsquo s Modena, we&rsquo re taking a hard look at all our brands across the portfolio and refining them up to the expectations of consumers&rsquo evolving needs, post-Covid especially,&rdquo said Chew. Other core brands &ndash Fraser Residence, Fraser Place and Capri &ndash are under review and work is in progress. These repositioning efforts come against the backdrop of Frasers Hospitality Trust&rsquo s (FHT) privatisation last year, which Eu described as a capital-focused exercise. To do well, the previously listed trust needed to grow its asset base and net asset value. So, when growth became constrained, the sponsor group, Frasers Property Limited, decided to take it private to &ldquo unlock value and return a premium to investors&rdquo . &ldquo Hospitality as an asset class remains strategic for Frasers Property,&rdquo said Eu, adding that the group continues to invest selectively in segments where it has strong operating capabilities and brand strength. Following the privatisation, FHT assets are now under Frasers Property and Thailand-based TCC Group, giving the company greater flexibility to unlock value without the near-term distribution pressures typical of a real estate investment trust structure. &ldquo At the end of the day, every business comes down to the P& L (profit and loss) and the balance sheet,&rdquo said Eu. &ldquo The operator&rsquo s role is to drive earnings, while the real estate side stewards the balance sheet. Everything has to be contextualised around value creation &ndash and in real estate that means generating returns that justify the capital invested.&rdquo |
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Joelton
Supreme |
07-Feb-2026 13:03
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Frasers Property logs S$1.4 billion in pre-sold residential revenue, boosted by China sales
The China market contributed S$500 million as at end-2025
[SINGAPORE] Frasers Property recorded S$1.4 billion in pre-sold residential revenue across Singapore, Australia, Thailand and China as at Dec 31, 2025, the developer said in its Q1 business update on Friday (Feb 6).
China accounted for S$500 million of the pre-sold revenue, up from S$400 million as at Sep 30. Frasers had 1,580 contracts on hand in the market as at Dec 31.
The improvement follows Frasers&rsquo launch of the first phase of unit sales at the Fang Song Community high-end residential project in Shanghai. The company also sold units at its Juyuan Upview and Xuhang Upland projects in Shanghai in Q1.
Frasers logged another S$500 million of pre-sold revenue in Singapore, with 930 contracts on hand. The luxury 348-unit residential project Robertson Opus is 56 per cent sold following its July 2025 launch.
Australia accounted for S$400 million of Frasers&rsquo Q1 pre-sold revenue &ndash unchanged from Sep 30, 2025 &ndash with 1,356 contracts. The market saw &ldquo strong sales momentum&rdquo even as revenue was recognised upon a higher level of settlements in the quarter, the company said.
Over in Thailand, Frasers aims to launch the Gute&rsquo Sathorn housing project near Bangkok&rsquo s central business district in Q2. The company recorded S$400 million in pre-sold revenue in the country, with 176 contracts on hand in Q1.
Other segments
Under the industrial and logistics development segment, Frasers added 68,300 square metres (sq m) of landbank in Q1 and has 862,000 sq m in the development pipeline.
In Vietnam, it has 452,000 sq m of planned completions in FY2026 and FY2027 to &ldquo support strong market demand&rdquo .
In Australia, however, the industrial and logistics development pipeline is normalising after elevated levels in FY2024. This reflects &ldquo a measured approach in light of moderating demand&rdquo , Frasers said.
Frasers Property gaining full ownership of The Centrepoint rear block not a sure thing
On the retail front, the company recorded 24,447 sq m in Singapore renewals and new leases in Q1. &ldquo The portfolio maintained healthy occupancy and rental growth, supported by trade-mix enhancements and targeted marketing that lifted footfall and sales,&rdquo Frasers said.
In Thailand, it logged 8,193 sq m in retail renewals and new leases, on the back of improved occupancy and rental levels.
The figure stood at 515 sq m in Australia, with higher occupancy and stronger tenant sales after the opening of Mambourin Marketplace in September 2025. However, rental reversion turned slightly negative due to less leasing activity and the re-pricing of a previously over-rented tenancy.
Frasers&rsquo commercial portfolio maintained positive rental reversions across Singapore, Australia, Thailand, Vietnam and the UK. Occupancy improvement in Singapore was driven mainly by leases at Alexandra Technopark.
In the hospitality business, Frasers saw improvements in revenue per available room (RevPAR) across Thailand, the rest of Asia-Pacific and Europe, the Middle East and Africa (EMEA).
RevPAR in Apac was up 2.3 per cent year on year, with average daily rate gains in Singapore, Australia and Japan, albeit partly offset by softer China rates. RevPAR was also up 9.1 per cent in Thailand.
In EMEA, stronger UK long-stay and public-sector demand, and higher event and group rates in Germany drove a 2.1 per cent rise in RevPAR.
Looking ahead, Frasers plans to focus on debt capital management &ndash extending debt maturities with a focus on green and sustainable financing. Its net debt to equity ratio stood at 89 per cent as at Dec 31. The company has S$2.2 billion in cash and bank balances.
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Alignment
Elite |
29-Jan-2026 20:07
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If someone pays more than Fraser they are probably overpaying.
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Delvyss
Elite |
28-Jan-2026 08:42
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Frasers Property Limited - Value waiting to be recognisedhttps://www.poems.com.sg/stock-research/FCPTA.SG/ |
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Joelton
Supreme |
14-Jan-2026 09:43
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Frasers Property gaining full ownership of The Centrepoint rear block not a sure thing
The dynamic could change if the owner of Cuppage Terrace puts his asset up for sale soon, too
[SINGAPORE] The much-awaited collective sale of the rear block of The Centrepoint in Singapore&rsquo s Orchard Road shopping belt was launched recently at a guide price of S$418 million.
Frasers Property, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has been seen as the most natural buyer and top contender for the asset. It comprises 66 apartments and 66 retail strata units on an L-shaped plot, with about 52 years left on its 99-year lease.
The Business Times understands that the mainboard-listed property group owns all the retail strata units and eight apartments, adding up to about 52 per cent of the strata area and about 85 per cent of the share value in the rear block.
In the freehold front block, where The Centrepoint&rsquo s remaining 151 retail strata units are located, Frasers Property : TQ5 0% owns about 96 per cent each of the strata area and the share value.
The group also fully owns 51 Cuppage Road, a 10-storey office building on a site with about 69 years&rsquo balance lease the building is directly connected to The Centrepoint&rsquo s rear block via a link-bridge.
Gaining full ownership of the rear block of The Centrepoint through the collective sale would be a big step in helping Frasers Property to combine its sites for a major redevelopment, tapping incentives such as bonus gross floor area under the Urban Redevelopment Authority&rsquo s Strategic Development Incentive (SDI) Scheme.
Frasers Property certainly looks like it is in pole position to clinch The Centrepoint&rsquo s rear block through the tender exercise that will close on Feb 26. However, that may not deter other parties from bidding at the tender, especially if they have been eyeing another nearby asset, Cuppage Terrace.
The row of 17 refurbished two-storey conservation shophouses has food and beverage outlets on the ground floor with outdoor refreshment areas, and hotel rooms above.
Cuppage Terrace is on a 29,000 square foot site with about 62 years&rsquo balance lease.
Some market watchers estimate it could fetch around S$200 million to S$250 million if put on the market today.
If the owner of Cuppage Terrace, Raj Kumar&rsquo s Royal Holdings Organisation, is agreeable to selling the property, it could whet the appetite of other developers, including from overseas, for the rear block of The Centrepoint.
If such a party gains ownership of the two assets, it may be in a position to tap the SDI Scheme with a redevelopment proposal.
One possibility could be to incorporate the conservation shophouses into a new development comprising a hotel with some retail.
A design envisaging, say, a glass canopy over the shophouses to create an air-conditioned indoor street in the style of Bugis Junction, would have quite a transformative effect on the locale.
Such a project would help with the continued rejuvenation of this stretch of Orchard Road. A stone&rsquo s throw away, on the former Faber House site, UOL Group is expected to open the NoMad hotel this year. The 173-room hotel will feature a biophilic waterfall cascading across 15 storeys.
It is not a 100 per cent certainty that Frasers Property will win the enbloc sale tender for The Centrepoint&rsquo s rear block.
If the tender is awarded to another party, it may be a dampener for Frasers Property shareholders looking forward to the group enhancing the value of its ageing Orchard Road assets through redevelopment.
Of course, the group can still continue to manage the part of The Centrepoint mall on the front freehold site it can also continue to own 51 Cuppage Road. But it would not be able to combine its sites for a sizeable rejuvenation project.
It would be in Frasers Property&rsquo s interest to avoid such an outcome.
Given that the group already owns a substantial stake in the rear block of The Centrepoint, it would effectively be paying only for the remaining portion of the block if it is awarded the enbloc sale tender.
In short, Frasers Property can afford to outbid just about any competitor to gain full ownership of the rear block.
The question then is: How high a price is it willing to pay, to defend its turf in Orchard Road?
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finjungle
Veteran |
30-Dec-2025 15:07
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Agreed The company is now operatingno different from a privately owned family company although it is listed on the SGX. The annual report is drowned with accolades and " achievements" but short of more dividend and increase in share price. The management and board enjoy the DOG and PONY show at every AGM.
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Alignment
Elite |
30-Dec-2025 14:13
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Structure is too complicated for minoriry investors. | ||||
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