- In its 3QFY23 (Apr to Jun 2023) business update, Frasers Property (SGX:TQ5) reported that it continues to see stable leasing demand for its logistics and industrial (L&I) properties, as well as retail portfolio. Hospitality portfolio continues to be driven by new asset additions and greater operational performance. Residential portfolio remains resilient, with healthy sales in Australia and Singapore.
- - Read this at SGinvestors.io -
- Unbilled residential revenue in Singapore stood at S$0.9bn at end-3QFY23.
- Parc Greenwich EC was fully sold and is scheduled to complete in 2HFY24F, while Sky Eden @ Bedok has an 82% take-up rate to date.
- - Read this at SGinvestors.io -
- Residential sales in Thailand was affected by macro developments, and unbilled residential revenue dipped q-o-q to S$0.04bn in 3QFY23.
- Frasers Property continues to focus on single-detached housing projects in Thailand to capture the affluent market segment, launching Alpina Rama II in 3QFY23.
- China unbilled residential revenue was stable q-o-q at S$0.8bn in 3QFY23. Frasers Property replenished its residential portfolio with an investment in Songjiang District, Shanghai, and invested in the Upview Hongqiao project in Qingpu District.
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
LOCK Mun Yee CGS-CIMB Research | https://www.cgs-cimb.com 2023-08-10
Read also CGS-CIMB's most recent report:
2024-02-05 Frasers Property - Staying Nimble With A Robust Balance Sheet.
Previous report by CGS-CIMB:
2023-11-20 Frasers Property Limited - Growing Recurring Base, Attractive Yield.
Price targets by other brokers at Frasers Property Target Prices.
Listing of research reports at Frasers Property Analyst Reports.
Relevant links:
Frasers Property Share Price History,
Frasers Property Announcements,
Frasers Property Dividends & Corporate Actions,
Frasers Property News Articles
