F&N's property division in the spotlight
After hospitality bid, attention now on rest of $8.2b property business
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RESIDENTIAL SECTOR: Assets valued at $4.4 billion include Watertown in Punggol and Esparina Residences (above) in Buangkok. -- ST FILE PHOTO
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REIT SECTOR: A $1.04 billion stake in assets which include Causeway Point mall and office development China Square Central (above). -- ST FILE PHOTO
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INVESTMENT SECTOR: Assets valued at $1.57 billion include local non-Reit properties such as Robertson Walk (above). -- PHOTO: FRASERS CENTREPOINT MALLS
- ST FILE PHOTO ST FILE PHOTO
PHOTO: FRASERS CENTREPOINT MALLS
RESIDENTIAL SECTOR: Assets valued at $4.4 billion include Watertown in Punggol and Esparina Residences (above) in Buangkok. -- ST FILE PHOTO
REIT SECTOR: A $1.04 billion stake in assets which include Causeway Point mall and office development China Square Central (above). -- ST FILE PHOTO
INVESTMENT SECTOR: Assets valued at $1.57 billion include local non-Reit properties such as Robertson Walk (above). -- PHOTO: FRASERS CENTREPOINT MALLS
The $1.4 billion offer lodged out of the blue for Fraser & Neave's (F&N) hospitality business last week has focused the market's attention on the conglomerate's wider property division.
The offer from Overseas Union Enterprise for Frasers Hospitality includes a 20 per cent premium to the asset value, which was assessed at about $1.17 billion as at June 30.
This includes serviced apartments such as Fraser Place Singapore and Fraser Suites Beijing, as well as other buildings across the world.
Frasers Hospitality has been expanding aggressively, growing into one of the leading Asian brands in the sector. It is expected to own or manage 73 properties in 39 cities, with more than 12,200 apartments, by 2014.
