Frasers Property Diversified Growth
Active management of hospitality portfolio
Focus on meaningful growth through active portfolio rebalancing
•
Entry into complementary premium rental apartment segment to capture
opportunities from North Asia's burgeoning long-stay segment
Acquired a Premium Rental Apartment (PRA) asset each in Shenzhen,
China and Osaka, Japan
Increase in units from newly-signed management agreements, offset by
divestment of Fraser Place Melbourne, maturing of contracts and deflagging
of smaller properties as part of streamlining of management fee business
8 new management agreements signed, and 1 extension, spanning across the
North Asia, Southeast Asia, and EMEA regions.
•
4Q FY23 saw the opening of Fraser Residence Tianjin, China, Capri by Fraser,
Phnom Penh, Cambodia and Fraser Residence River Promenade, Singapore
$
International tourism continued its
sustained recovery as arrivals reached 84% of
pre-pandemic levels between January to July
20231
Slow return of China's outbound tourism weighs
on further recovery, but the industry is set to
gradually recover to pre-COVID levels by
end 20242
Economic uncertainty continued to weigh
on tourism recovery, driven by persistently
high inflation, rising commodity prices and
ongoing geopolitical tensions
Units by Geography³
Asia Pacific
S$4.1 b
AUM4
Europe, Middle East, and Africa
TOTAL
30 Sep 23
30 Jun 23
31 Mar 23
31 Dec 22
30 Sep 22
10,249
10,236
10,026
10,067
10,291
5,691
15,940
5,688
5,762
6,030
6,030
15,924
15,788
16,097
16,321
1. unwto.org/news/international-tourism-swiftly-overcoming-pandemic-downturn. 2. bloomberg.com/news/articles/2023-09-19/china-outbound-travel-may-take-another-year-to-fully-recover. 3. Includes owned and/or managed units in operation;
and assets held by FHT. 4. Comprises hospitality property assets in which the Group has an interest, including assets held by FHT.
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