Frasers Property logs $1.4 billion in pre-sold residential revenue, boosted by China sales

SINGAPORE – Frasers Property recorded $1.4 billion in pre-sold residential revenue across Singapore, Australia, Thailand and China as at Dec 31, 2025, the developer said in its first-quarter business update on Feb 6.

China accounted for $500 million of the pre-sold revenue, up from $400 million as at Sept 30. Frasers had 1,580 contracts on hand in the market as at Dec 31.

The improvement follows Frasers’ launch of the first phase of unit sales at the Fang Song Community high-end residential project in Shanghai. The company also sold units at its Juyuan Upview and Xuhang Upland projects in Shanghai during the first quarter.

Frasers logged another $500 million of pre-sold revenue in Singapore, with 930 contracts on hand. The luxury 348-unit residential project Robertson Opus is 56 per cent sold following its July 2025 launch.

Australia accounted for $400 million of Frasers’ first-quarter pre-sold revenue – unchanged from Sept 30 – with 1,356 contracts. The market saw “strong sales momentum” even as revenue was recognised upon a higher level of settlements in the quarter, the company said.

Over in Thailand, Frasers aims to launch the Gute’ Sathorn housing project near Bangkok’s central business district in the second quarter. The company recorded $400 million in pre-sold revenue in the country, with 176 contracts on hand in the first quarter.

Other segments

Under the industrial and logistics development segment, Frasers added 68,300 square metres of landbank in the first quarter and has 862,000 sq m in the development pipeline.

In Vietnam, it has 452,000 sq m of planned completions in FY2026 and FY2027 to “support strong market demand”.

In Australia, however, the industrial and logistics development pipeline is normalising after elevated levels in FY2024. This reflects “a measured approach in light of moderating demand”, Frasers said.

On the retail front, the company recorded 24,447 sq m of renewals and new leases in Singapore in the first quarter. “The portfolio maintained healthy occupancy and rental growth, supported by trade-mix enhancements and targeted marketing that lifted footfall and sales,” Frasers said.

In Thailand, it logged 8,193 sq m in retail renewals and new leases, on the back of improved occupancy and rental levels.

The figure stood at 515 sq m in Australia, with higher occupancy and stronger tenant sales after the opening of Mambourin Marketplace in September 2025. However, rental reversion turned slightly negative due to lower leasing activity and the re-pricing of a previously over-rented tenancy.

Frasers’ commercial portfolio maintained positive rental reversions across Singapore, Australia, Thailand, Vietnam and Britain. Occupancy improvement in Singapore was driven mainly by leases at Alexandra Technopark.

In the hospitality business, Frasers saw improvements in revenue per available room (RevPAR) across Thailand, the rest of Asia-Pacific and Europe, the Middle East and Africa (EMEA).

RevPAR in Apac was up 2.3 per cent year on year, with average daily rate gains in Singapore, Australia and Japan, albeit partly offset by softer China rates. RevPAR was also up 9.1 per cent in Thailand.

In EMEA, stronger British long-stay and public-sector demand, along with higher event and group rates in Germany, drove a 2.1 per cent increase in RevPAR.

Looking ahead, Frasers plans to focus on debt capital management – extending debt maturities with a focus on green and sustainable financing. Its net debt-to-equity ratio stood at 89 per cent as at Dec 31. The company has $2.2 billion in cash and bank balances.

On Feb 6, Frasers ended $0.02, or 1.8 per cent, lower at $1.08, before the news.

THE BUSINESS TIMES