Frasers Property to put hospitality portfolio revamp to shareholder vote on Aug 28
Unrecognised residential revenue stand at about S$1 billion as at end-June
Frasers Property will ask shareholders to vote on revamping its hospitality portfolio during an extraordinary general meeting on August 28. The proposal, disclosed on August 11, aims to optimize Frasers Hospitality Trust's portfolio by unlocking capital from stabilized assets while continuing to manage them for third-party capital and generating recurring fee income.
The group plans to retain assets with growth potential and hold non-core assets for potential future divestment. One key aspect of the plan is consolidating full ownership of Fraser Suites Singapore, which will aid in the redevelopment of the Valley Point site. This move is part of a broader portfolio reshuffle, as Frasers Property continues to recycle capital from stabilized assets and selectively reinvest in other sectors such as residential, industrial, and logistics (I&L) developments.
Over the nine-month period, the company recycled approximately S$2.2 billion through strategic real estate investment trust platforms, capital partnerships, and third-party asset sales.
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Also reported by 1 other outlet
- Frasers Property to put hospitality portfolio revamp to shareholder vote on Aug 28 businesstimes.com.sg
