Frasers Property sets up new platform to work with capital partners

Frasers Tower. Source: Frasers Property

Singapore’s Frasers Property has set up a new group corporate function, Frasers Property Capital, that will team up with capital partners on new projects. The new unit will see the company pursuing investment opportunities while sharing risks with like-minded joint venture partners, Frasers Property detailed in a regulatory filing on Monday.

Wong Ping, a veteran in the real estate investment sector with over 25 years of experience under her belt, will lead Frasers Property Capital as its chief investment officer.

Before joining Frasers Property in July, Wong held senior leadership positions at CBRE Investment Management as well as Allianz Estate Asia Pacific. She is based in Singapore and reports to the group’s chief corporate officer, Chia Khong Shoong.

Real estate is a capital-intensive industry, Chia said in a press statement, adding, “To maximise the value generated from our platforms and capabilities, we need a strong capital base and diversified capital sources to execute on our strategic priorities.”

“We believe long-term strategic institutional investors, who share our vision, will appreciate the capabilities of our established real estate platforms in our chosen markets that are backed by strong, experienced local teams,” Chia explained.

He said the formation of Frasers Property Capital is a natural evolution in the company’s journey. Potential partners the group collaborates with include sovereign wealth funds, institutional investors, pension funds and insurers.

Frasers Property has been growing its business by focusing on building strong platforms in the markets it operates in. Chia has told news sources that Frasers Property Capital’s growth will be similar in nature.

For instance, Frasers Property Capital will continue to focus on core asset classes as well as its existing markets. Frasers’ business units operate across five asset classes — residential, retail, commercial and business parks, industrial and logistics as well as hospitality — with a footprint in Southeast Asia, Australia, Europe and China. As of Mar 31 2022, Frasers had S$40.7 billion worth of assets across its portfolio.

“The group has earned its reputation by purposefully growing its business, where we have accumulated local and sector knowledge with the support of our tenants and customers. This approach is complementary to how we intend to scale and align sustainably with our partners,” said Wong.

Shares in Frasers Property closed down a cent, or 0.952%, at $1.04 on Aug 22.

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