Frasers Property facts for kids
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Formerly
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| Public | |
| Traded as | SGX: TQ5 |
| Industry | Real estate |
| Founded | 1963 |
| Headquarters | Singapore |
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Areas served
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Key people
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Charoen Sirivadhanabhakdi (Chairman) Panote Sirivadhanabhakdi (CEO) |
| Owner | TCC Group (2013-present) |
| Subsidiaries |
Subsidiaries
Frasers Property Australia
Frasers Property Singapore Frasers Property Hospitality Frasers Property Industrial Frasers Property International (Europe and rest of Asia) |
Frasers Property is a big company from Thailand and Singapore. It builds, owns, and manages buildings all over the world. It is owned by Charoen Sirivadhanabhakdi, a very successful businessman from Thailand.
The company owns and manages many different types of buildings. These include offices, homes, hotels, shopping malls, and warehouses. Its main office is in Singapore. The company's shares are traded on the Singapore Stock Exchange. It also helps manage special investment groups called REITs. These groups let people invest in real estate.
History of Frasers Property
How the Company Started (1963–1996)
The company we know today as Frasers Property began in 1963. It was first called Cold Storage Limited. This company ran markets and shops. Its very first building project was a shopping center. This center was named The Centrepoint. It is located on Singapore's famous Orchard Road. Construction on The Centrepoint started in 1980 and finished in 1983.
In the early 1980s, the company started to sell off its businesses that were not about property. In 1987, two other companies, Fraser and Neave and Goodman Fielder Wattie, took control of Cold Storage Holdings. This was the main group for Cold Storage's food, retail, and property parts.
In 1988, the property part of Cold Storage became Centrepoint Properties Limited (CPL). It also started trading its shares on the Singapore Stock Exchange. By 1990, CPL became part of Fraser and Neave after some changes. At that time, CPL mainly owned and ran The Centrepoint mall.
Growing the Property Business
In the years that followed, the company added more buildings to its collection. It opened another shopping center in Singapore called Northpoint. It also bought a shopping mall in Sydney, Australia, named Bridgepoint.
In 1994, CPL opened its first homes project. This was The Anchorage, a group of apartments in Singapore. It was built where an old Anchor Brewery used to be. In 1996, the company started its first office project in Vietnam. This was Me Linh Point in Ho Chi Minh City. This 21-story building with shops and offices was finished in 1999.
In 1996, Jeffrey Heng became the new CEO. Under his leadership, Centrepoint started to get into the hotel business. They created hotel brands like Fraser Place and Fraser Suites. In 1998, Fraser Suites Singapore and Fraser Place Robertson Walk were the first of these serviced apartments. The company then opened locations in the UK, South Korea, and the Philippines.
The company also started projects in the United Kingdom in 2000. Their first development there was Annandale House, a residential building. Their first project in China was JingAn Four Seasons in Shanghai in 2001.
Becoming Frasers Centrepoint (1996–2013)
In 2002, Centrepoint Properties became fully owned by Fraser and Neave. It was removed from the Singapore Stock Exchange. Lim Ee Seng became the CEO of Centrepoint Properties in 2004. Two years later, the company changed its name to Frasers Centrepoint Limited (FCL).
It also created its first Real estate investment trust (REIT). This was called Frasers Centrepoint Trust (FCT). The FCT started trading on the Singapore Stock Exchange. In 2008, Fraser and Neave bought a part of another REIT. This was later renamed Frasers Commercial Trust (FCOT). It became part of FCL. Between 2005 and 2014, FCL's total value of buildings grew a lot.
In 2013, Fraser and Neave, the parent company of FCL, was bought by Charoen Sirivadhanabhakdi's TCC Group. This deal was worth $11 billion. In August 2013, it was announced that FCL would become its own separate company. It would be listed again on the Singapore Stock Exchange. This made Frasers Property an independent company under the larger TCC Group.
Expanding Globally (2014–2017)
Frasers Centrepoint officially started trading again on the Singapore Stock Exchange on January 9, 2014. This was after almost 12 years. In June 2014, FCL launched the Frasers Hospitality Trust (FHT). This trust focuses on its hotel business. It is also listed on the Singapore Stock Exchange. Another REIT, the Frasers Logistics and Industrial Trust (FLT), started trading in June 2016.
In July 2014, Frasers Centrepoint bought Australand. This was a property group based in Australia. Australand was renamed Frasers Property Australia in August 2015. In 2016, the company bought a share in Golden Land. This is a development company listed in Thailand.
New Leadership and Big Projects
In October 2016, Panote Sirivadhanabhakdi became the group's CEO. He took over from Lim Ee Seng, who retired after 12 years. In April 2017, Frasers Centrepoint announced a huge project in Thailand. This was One Bangkok, a mixed-use development. It was planned with the TCC Group. This large area will have homes, hotels, offices, and shopping malls. It is expected to be finished in 2025.
Later that month, the group bought a large part of Geneba Properties NV. This is a real estate company in Amsterdam. It kept adding to its European properties. It bought two warehouses in Germany in October 2017. It also acquired four business parks in the U.K. in November 2017. In February 2018, it bought Alpha Industrial, a German developer.
Becoming Frasers Property (2018–Present)
In February 2018, the company officially changed its name. It went from Frasers Centrepoint Limited to Frasers Property Limited. Many of its businesses outside Singapore had already been using the "Frasers Property" name.
Later in February, the Frasers Property Group bought more shares in TICON Industrial Connection Public Company. This is a Thai developer. TICON was later renamed Frasers Property Thailand in 2019. Golden Land Development Company became a part of it.
New Partnerships and Business Units
In May 2018, the group worked with GIC, a Singaporean wealth fund. They also partnered with JustCo, a company that provides shared office spaces. They invested $177 million to create a shared workspace platform in Southeast Asia. That month, it also bought a large share in Phu An Khang Real Estate in Vietnam.
In February 2019, the company agreed to buy a part of PGIM Real Estate Asia Retail Fund Limited. In July 2019, the company announced a merger. It would combine its industrial and logistics businesses in Australia and Europe. This new unit, Frasers Property Industrial, started in 2020.
In February 2020, the company's retail part agreed to buy AsiaMalls Management. This added six more properties to its collection. In 2021, the company sold shares to raise $950 million. This money was used to buy more industrial and business parks. It also helped set up new ways to invest in property.
Frasers Property Business Units
Frasers Property has several business units. These are based in Singapore, Australia, Thailand, the United Kingdom, Vietnam, and China. It also has units for its hotel businesses and its industrial properties. These units also manage the company's different REITs.
Frasers Property Singapore
This unit used to be called Frasers Centrepoint Singapore. It handles building, owning, and managing properties in Singapore. As of 2019, this unit owns 22 shopping malls in Singapore. These include The Centrepoint, Northpoint City, Bedok Point, Causeway Point, Eastpoint Mall, Hougang Mall, and Century Square.
It also runs various office buildings, like Frasers Tower. It manages over 17,000 homes across Singapore. Frasers Property Singapore manages the Frasers Centrepoint Trust (FCT) and the Frasers Commercial Trust (FCOT). Both of these trusts are listed on the Singapore Stock Exchange.
Frasers Property Australia
Australand was an Australian property group. Frasers Property bought it in July 2014. Australand had been in business since the 1920s. This unit was renamed Frasers Property Australia in August 2015.
Its projects include One Central Park in Sydney. It also built Australia's first carbon neutral office building. This was in the Rhodes Corporate Office Park. It has also built many homes and land developments.
Frasers Property Australia also manages the Frasers Logistics & Industrial Trust (FLT). This trust started trading in June 2016. In July 2019, it was announced that FLT would be part of a new business unit. This unit would combine industrial and logistics operations in Australia and Europe. This new unit started operating by the 2020 financial year.
In 2024, Frasers Property Australia and ESR Australia teamed up. They bought a large piece of land in Cranbourne, Australia. They plan to build a big industrial area there.
Addressing Building Issues
The Shell Cove residential development is being built by Frasers Property Australia. It plans to have 3,500 homes. Some homes had problems with water leaking and design. These issues were first brought up in 2018. The company apologized and hired 12 teams to fix the problems in 2023.
Frasers Property UK
Frasers Property also has a unit for its properties in the United Kingdom. This is called Frasers Property UK. It includes four business parks bought in September 2017. As of 2018, its properties were valued at $1.5 billion.
Frasers Property Industrial
The Frasers Industrial business unit builds and manages industrial properties. These are in Australia, the Netherlands, Germany, and Austria. As of December 2019, it managed about S$5.4 billion worth of properties. It had 133 properties in the company's industrial and logistics markets.
Frasers Property International
The Frasers International business unit includes their businesses in Europe and other parts of Asia outside Singapore. In Europe, the company runs Geneba Properties and Alpha Industrial. These are now called Fraser Property Europe. In Asia, Frasers Property has smaller units in China, Vietnam, and Thailand. Frasers Property Thailand used to be TICON Industrial Connection Public Company. It was bought in 2018 and renamed in 2019.
Frasers Hospitality
Frasers started its hotel business in the 1990s. It created the Fraser Place and Fraser Suites hotel brands. By 2002, it had properties in London, England, and Seoul, South Korea. Other brands include Fraser Residence, Modena by Fraser, and Capri by Fraser. Capri by Fraser is for longer stays.
In June 2015, Fraser Hospitality bought two boutique hotel chains in the UK. These were Malmaison and Hotel du Vin. They still operate these hotels under their original names.
As of February 2019, this unit runs over 150 hotels and serviced apartments. These are in more than 70 cities across Asia, Europe, Australia, and the Middle East. It also manages $4.8 billion worth of properties. Frasers Hospitality also manages the Frasers Hospitality Trust (FHT). This trust started in June 2014. It was the first worldwide hotel and serviced apartment trust to be listed on the Singapore Stock Exchange.
