Frasers Property logs S$1.4 billion in regional pre-sales, says it's well-placed to manage upcoming debt
In Singapore, the group said the residential market remains resilient, underpinned by strong homeownership rates and continued investment appeal.
It also noted that residential sales volume rose year on year, driven by a pickup in private residential launches in Q2 and a moderation in interest rates.
For the first nine months of FY2025, the group sold 712 units in the city-state, with unrecognised revenue amounting to S$400 million as at end-June. Among its developments, 41 per cent of the units at the Robertson Opus were sold; at The Orie in Toa Payoh, the figure was 91 per cent.
Meanwhile, Sky Eden@Bedok is on track for completion by the first quarter of FY2026.
In Australia, the group noted that mean dwelling prices rose in Q2, and that residential housing demand improved following recent interest rate cuts.
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Unrecognised revenue there stood at S$500 million as at Jun 30, with 1,672 contracts on hand, it said.
Frasers also highlighted proactive leasing strategies and the portfolio repositioning of its office assets to mitigate softer occupancy and valuation pressures.
It said office metrics weakened due to planned vacancies in Lee Street in Sydney, stemming from deliberate non-renewal of leases to support potential redevelopment.
At Rhodes Quarter, also in Sydney, continued leasing efforts and tenant retention helped sustain weighted average lease expiry and occupancy levels despite challenging market conditions.
The group noted that Thailand's residential segment remained subdued, though signs of improvement are emerging.
In China, the residential portfolio delivered a stable performance, supported by steady sales and timely project completions.
Frasers Property said it is well-positioned to meet all debt obligations due in the next 12 months, either through repayment or refinancing.
As at end June, its net debt stood at S$15.3 billion, up 5.3 per cent from end September 2024.
Its net debt-to-equity ratio worsened by 5.8 percentage points to 89.2 per cent.
Frasers Property closed flat at S$0.955 on Thursday, before the announcement.
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Business Times
5 days ago
- Business Times
Frasers Property logs S$1.4 billion in regional pre-sales, says it's well-placed to manage upcoming debt
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What role has your company played in shaping Singapore's urban transformation? Soon Su Lin: We're proud to play a key role in the Singapore story, building spaces where one can work, live and play, all within the vicinity. As the largest prime suburban mall operator, our malls serve over half of Singapore's population. They are vibrant social hubs, with communal facilities, placemaking initiatives and tenant offerings bringing people together. To date, we have delivered more than 23,000 quality homes. We continue to transform precincts, including redeveloping Robertson Walk into The Robertson Opus, which will redefine luxury riverside living. Contributing to Singapore's office sector, our commercial buildings provide quality flexible workspaces, community zones and digital solutions to tenants. How has your brand evolved alongside Singapore's growth? Hui Choon Kit: Our brands like F&N, 100PLUS, F&N MAGNOLIA, and F&N NUTRISOY have grown alongside Singapore, becoming household names woven into daily life, from school canteens to family meals and festive celebrations. As lifestyles evolve, we continue to innovate in support of healthier living. 100PLUS helps Singaporeans stay hydrated and active; F&N MAGNOLIA offers calcium-rich milk; and F&N NUTRISOY provides nutrient-rich soy-based beverages. They reflect our commitment to national health goals and nurturing healthier generations. Everyday hydration with 100PLUS. In addition to our non-alcoholic beverages, our heritage includes building some of Singapore's most iconic brands. In 1931, we co-founded APB with Heineken, playing a key role in building Tiger Beer into a globally recognised brand, rooted in Singapore's brewing heritage – a legacy we remain proud of today. 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