Frasers Property Sells Hotels and Industrial Assets in Portfolio Restructuring

Singapore-listed Frasers Property sold four industrial properties in Europe for €295 million in May. A month later the company proposed selling five hotels, including the former InterContinental Singapore and properties in Japan, Malaysia and the U.K., for a combined S$1.1 billion to TCC Group Investments.

The same proposal includes plans to sell four additional hotels in Australia and Europe. The company said the transactions free up capital for higher-return opportunities.

Background on the Restructuring Last year Frasers Property took its Frasers Hospitality Trust private in a S$1.4 billion deal that prepared the ground for the current changes. Panote Sirivadhanabhakdi oversees the real estate portfolio as group CEO.

Shares of Frasers Property have risen one-third since last year. The increase added $1 billion to the patriarch’s net worth, bringing it to $11.5 billion. The family’s other holdings include breweries, food and beverage, packaging and retail businesses.