Creating Value Through our Developments

Frasers Centrepoint Limited, the property arm of Singapore’s 127-year¬old Fraser and Neave, Limited, enjoyed a stellar 2009 with a six fold increase in home sales in Singapore even during the global financial crisis. So how did the group do it and what are its plans for the next 5 years? Chief Executive Officer Lim Ee Seng says the firm stayed focused on quality and innovative home projects aimed at the mass and mid-tier segments in Singapore whilst it beefed up its land acquisitions in overseas markets like Australia and China.

“Our local residential properties developed and marketed by Frasers Centrepoint Homes are often situated in choice locations with close proximity to major hubs and transportation networks. We are reputed for developing homes with quality finishings as well as innovative product features that meet customers’ needs and preferences.

More importantly, we are deeply committed to enhancing customer satisfaction by delivering excellent post-purchase service. Attractive pricing, coupled with well-timed marketing and sales launches ensure that FCL continues to be consistently ranked as one of Singapore’s top real estate companies.”

Record home sales
It was this reputation among buyers in Singapore that saw two of its projects snapped up by eager buyers during the depths of the global financial crisis. “In 2009, two of our newly launched projects – Caspian and 8@ Woodleigh – were fully sold within weeks,” said Mr Lim.

In fact, Frasers Centrepoint was one of the top three sellers of homes in Singapore last year with a record 1,852 homes sold, bringing the total number of homes it is developing in Singapore to 11,000. It has also bagged several Green Mark awards for various projects including Soleil@Sinaran (Gold), ClementiWoods Condominium (GoldPLUS), St. Thomas Suites (Gold), One Jervois (Gold), and The Azure (Gold).

And this year promises to be just as exciting as Frasers Centrepoint plans to launch a 393¬unit freehold condominium at the former Flamingo Valley site and Phase 3 of the Waterfront Collection at Bedok Reservoir.

Everyone associates Frasers Centrepoint with the iconic retail mall The Centrepoint on Orchard Road. But the group, which was founded in 1983, has grown into an award-winning well diversified company with a total of S$10 billion worth of assets. Its global portfolio of residential, commercial and serviced apartment properties span 13 countries across Asia, Australasia, Europe, and the Middle East.

Premier commercial property
Today, its local and overseas commercial property portfolio comprising premier retail, office and business space offers an aggregate net lettable area of over 7.79 million sq ft. As a leading manager of shopping malls, Frasers Centrepoint now manages eight malls in Singapore spanning both urban and suburban areas.

Mr Lim added that the group is focused on continued growth of its real estate investment trusts (REITS). “We are placing emphasis on growing both our retail and commercial REITS – Frasers Centrepoint Trust (“FCT”) and Frasers Commercial Trust (“FCOT”) - via asset acquisition and asset enhancement initiatives to unlock value. With the completion of Northpoint’s asset enhancement initiative and the acquisition of Northpoint 2 and YewTee Point, the FCT portfolio now comprises four quality suburban malls with a combined appraised value of S$1.4 billion as at 28 February 2010. The acquisition of Alexandra Technopark by FCOT also increased the latter’s commercial portfolio to S$2 billion.

In addition, FCT also has a foothold in Malaysia through a 31% stake in Hektar Real Estate Investment Trust, Malaysia’s premier retail-focused REIT.

International footprint
This year will see some very exciting launches in international markets for Frasers Centrepoint, bringing the same award-winning quality and innovation to its projects that make them sought after by owners. Last year, the group sold over 550 homes in the key markets of Australia and China generating sales revenue of S$360 million.

In Australia, the group has launched the Lumiere at Regent Place, a breathtaking vertical village designed by the world-acclaimed Foster + Partners. Regent Place houses the chic residential tower Lumiere Residences, Fraser Suites Sydney serviced apartments and four integrated levels of retail and commercial spaces. Other world-class credits include Central Park in Sydney, a mixed–use urban quarter at the western gateway to the CBD. World-first sustainability initiatives will target zero net carbon emissions, with a global design team delivering iconic architecture on the 2.5 million sq ft site. Another mixed-use development in Perth, the architecturally bold Queens Riverside project, will set new standards for urban regeneration while also achieving a high standard of environmental sustainability.

In New Zealand, Frasers Property officially launched its first New Zealand development ¬Coast Papamoa Beach, which is 682 residences comprising single and double story dwellings, townhouses, low-rise apartments and luxurious beachside apartments, which will be released and developed in stages over 10 years on the 24.2ha site.

Closer to home, in China, besides managing a retail mall – Crosspoint - in Beijing, Frasers Property China’s key developments include the 7.4-million-sq-ft Shanshui Four Seasons, the 5.1- million-sq-ft Baitang One in Suzhou, and a 6.2-million-sq-ft logistics hub in Chengdu.

In Thailand and Vietnam, Frasers has respectively developed the 55-storey ultramodern The Pano, setting a new benchmark for luxury living in the Thai capital, and Me Linh Tower, a highly sought after office address and development in Ho Chi Minh.

Award-winning serviced apartments
And of course, Frasers is known around the world for its hospitality arm “Frasers Hospitality”, which is a leading international Gold-Standard serviced residences owner and management company with brands such as Fraser Suites, Fraser Place and Fraser Residence. Frasers Hospitality is on track to manage over 10,600 serviced residences world-wide by 2012. It is now in 19 major gateway cities across the world including Shanghai, Beijing, Hong Kong, Seoul, Bangkok, Hanoi, London, and Paris.

So what sums up the group’s ethos? “The Frasers Centrepoint brand is all about nurturing spaces and defining moments – whether in the homes that we build, or in the offices, malls & serviced apartments that we own or manage, we are committed to reliability, quality and being customer-focused,” said Mr Lim. Frasers Centrepoint Limited has definitely come a long way and has proven to be a property giant of Singapore as they successfully mark their footprint locally and overseas.