Frasers Centrepoint to build 16-storey hotel at China Square Central site
POSTED: 27 Apr 2015 13:40
UPDATED: 27 Apr 2015 13:41
The hotel, with a gross floor area of 16,000 square metres, will be operated by Frasers Hospitality under the "Capri by Fraser" brand.
SINGAPORE: Property developer Frasers Centrepoint (FCL) will build a 16-storey hotel at China Square Central following an agreement that will see the developer pay Frasers Commercial Trust (FCOT) around S$44.8 million, FCOT announced on Monday (Apr 27).
The hotel, with a gross floor area of 16,000 square metres and located near Cross Street, will be operated by Frasers Hospitality under the "Capri by Fraser" brand.
“The China Square Central hotel transaction would enable FCOT to unlock and crystalise the value of the additional GFA (gross floor area) and minimise the exposure of FCOT to development risks. The hotel to be developed by FCL will raise the profile of China Square Central as an integrated development," said Mr Low Chee Wah, Chief Executive Officer of Frasers Centrepoint Asset Management (Commercial), in a news release.
"The hotel is expected to further rejuvenate and boost the value of China Square Central in the long run. These are in line with FCOT’s objective of achieving long term growth in distributions and net asset value per unit,” he added.
Separately, FCOT also said it has entered into a conditional sale and purchase agreement with Australand Property to buy a Grade A office building in the Melbourne central business district called 357 Collins Street for A$222.5 million (S$231.6 million).
- CNA/av
- wong chee tat :)
Showing posts with label Frasers Centrepoint. Show all posts
Showing posts with label Frasers Centrepoint. Show all posts
Tuesday, April 28, 2015
Tuesday, April 7, 2015
'Strong interest' at soft launch of North Park Residences: Developer
'Strong interest' at soft launch of North Park Residences: Developer
POSTED: 06 Apr 2015 23:04
UPDATED: 06 Apr 2015 23:06
The 920-unit integrated development project saw even sales across its one- to five-bedroom apartments, according to developer Frasers Centrepoint.
SINGAPORE: There was "strong interest" in North Park Residences during its soft launch on Sunday (Apr 5), with 313 of 430 units sold, developer Frasers Centrepoint (FC) announced in a media release on Monday.
North Park Residences will be part of the Northpoint City integrated development, which will comprise the Yishun Integrated Transport Hub, Nee Soon Central Community Club, a Town Plaza, a Community Garden and retail and F&B outlets..
The 920-unit integrated development project saw even sales across its one- to five-bedroom apartments, according to the release, with Singaporeans accounting for more than 88 per cent of buyers.
Phase 1 units of North Park Residences were released at an average pricing of S$1,300 psf, with prices starting from S$612,000 for a Studio unit to S$1.89 million for a five-bedroom unit.
Mr Cheang Kok Kheong, CEO of Development and Property for FC, said the healthy demand for North Park Residences indicates that buyers are aware of the advantages of its location in Yishun, as well as of being part of an integrated development.
North Park Residences will be officially launched for sale on Saturday, FC said. It is expected to be ready in 2018.
- CNA/dl
- wong chee tat :)
POSTED: 06 Apr 2015 23:04
UPDATED: 06 Apr 2015 23:06
The 920-unit integrated development project saw even sales across its one- to five-bedroom apartments, according to developer Frasers Centrepoint.
SINGAPORE: There was "strong interest" in North Park Residences during its soft launch on Sunday (Apr 5), with 313 of 430 units sold, developer Frasers Centrepoint (FC) announced in a media release on Monday.
North Park Residences will be part of the Northpoint City integrated development, which will comprise the Yishun Integrated Transport Hub, Nee Soon Central Community Club, a Town Plaza, a Community Garden and retail and F&B outlets..
The 920-unit integrated development project saw even sales across its one- to five-bedroom apartments, according to the release, with Singaporeans accounting for more than 88 per cent of buyers.
Phase 1 units of North Park Residences were released at an average pricing of S$1,300 psf, with prices starting from S$612,000 for a Studio unit to S$1.89 million for a five-bedroom unit.
Mr Cheang Kok Kheong, CEO of Development and Property for FC, said the healthy demand for North Park Residences indicates that buyers are aware of the advantages of its location in Yishun, as well as of being part of an integrated development.
North Park Residences will be officially launched for sale on Saturday, FC said. It is expected to be ready in 2018.
- CNA/dl
- wong chee tat :)
Monday, June 23, 2014
Frasers Hospitality to launch IPO at 88 cents per unit
Frasers Hospitality to launch IPO at 88 cents per unit
The IPO pricing would give investors an indicative yield of 7 per cent per annum, according to Frasers Hospitality Trust.
SINGAPORE: Frasers Hospitality Trust (FHT) has priced its upcoming initial public offering (IPO) at S$0.88 per stapled security, giving investors who buy into the offer an indicative yield of 7 per cent per annum.
According to a draft prospectus filed on the Monetary Authority of Singapore's (MAS) website on Monday (June 23), Frasers Hospitality will sell 182.1 million stapled securities at S$0.88 apiece in its upcoming IPO.
A further 232.9 million stapled securities will be issued to cornerstone investors, such as DBS and Fortress Capital Asset Management, at the same price.
Frasers Hospitality - which has a portfolio of 12 properties including the InterContinental Singapore and Westin Kuala Lumpur hotels - will start trading on the Singapore Exchange on July 14. Its market capitalisation will be around S$1.04 billion based on the IPO price, according to the prospectus.
Frasers Hospitality is managed by Frasers Centrepoint, the former property arm of Singapore's Fraser and Neave. Its initial portfolio comprises six serviced residences from Frasers Centrepoint - Fraser Suites Singapore, Fraser Suites Sydney, Fraser Place Canary Wharf, Fraser Suites Queens Gate, Fraser Suites Glasgow, and Fraser Suites Edinburgh.
The other six properties are from Frasers Centrepoint's Thai parent TCC Group. They are the InterContinental Singapore, Novotel Rockford Darling Harbour, Park International London, Best Western Cromwell London, ANA Crowne Plaza Kobe and Westin Kuala Lumpur.
- CNA/kk
- wong chee tat :)
The IPO pricing would give investors an indicative yield of 7 per cent per annum, according to Frasers Hospitality Trust.
SINGAPORE: Frasers Hospitality Trust (FHT) has priced its upcoming initial public offering (IPO) at S$0.88 per stapled security, giving investors who buy into the offer an indicative yield of 7 per cent per annum.
According to a draft prospectus filed on the Monetary Authority of Singapore's (MAS) website on Monday (June 23), Frasers Hospitality will sell 182.1 million stapled securities at S$0.88 apiece in its upcoming IPO.
A further 232.9 million stapled securities will be issued to cornerstone investors, such as DBS and Fortress Capital Asset Management, at the same price.
Frasers Hospitality - which has a portfolio of 12 properties including the InterContinental Singapore and Westin Kuala Lumpur hotels - will start trading on the Singapore Exchange on July 14. Its market capitalisation will be around S$1.04 billion based on the IPO price, according to the prospectus.
Frasers Hospitality is managed by Frasers Centrepoint, the former property arm of Singapore's Fraser and Neave. Its initial portfolio comprises six serviced residences from Frasers Centrepoint - Fraser Suites Singapore, Fraser Suites Sydney, Fraser Place Canary Wharf, Fraser Suites Queens Gate, Fraser Suites Glasgow, and Fraser Suites Edinburgh.
The other six properties are from Frasers Centrepoint's Thai parent TCC Group. They are the InterContinental Singapore, Novotel Rockford Darling Harbour, Park International London, Best Western Cromwell London, ANA Crowne Plaza Kobe and Westin Kuala Lumpur.
- CNA/kk
- wong chee tat :)
Tuesday, August 27, 2013
F&N plans to list property arm Frasers Centrepoint
F&N plans to list property arm Frasers Centrepoint
POSTED: 27 Aug 2013 6:06 PM
Announcing plans to list its property arm Frasers Centrepoint (FCL) by the end of this year, Frasers and Neave said it will be distributing two FCL shares for every F&N share held by its shareholders for free, subject to relevant approvals.
SINGAPORE: Singapore-based food and beverage conglomerate Fraser and Neave (F&N) has announced plans to list its property arm Frasers Centrepoint (FCL) by the end of this year.
In a media statement, the conglomerate said it will be distributing two FCL shares for every F&N share held by its shareholders for free, subject to relevant approvals.
F&N and FCL will be traded separately, with the listing expected in November or December this year.
The listing is "by way of introduction (so) there is no capital raised," Frasers Centrepoint chief financial officer Chia Khong Shoong told reporters.
After the completion of the proposed transaction, F&N will no longer have any interest in FCL. The conglomerate will be left with its food and beverage, and printing and publishing businesses.
F&N said: "It provides sharper focus on the growth of the food and beverage and properties businesses as independently-listed entities, and paves the way for further growth in both sectors."
F&N's move to spin off its property arm followed the S$13.8 billion (US$10.7 billion) takeover of the 130-year-old company by Thai billionaire Charoen Sirivadhanabhakdi earlier this year.
Charoen's company, TCC Assets, which holds around 62 percent of F&N, said it will vote for the proposal.
F&N became a takeover target after it sold off its most prized asset, Tiger Beer maker Asia Pacific Breweries, to Dutch giant Heineken in September last year.
The proposed transaction is subject to approval by F&N shareholders at an extraordinary general meeting in November, followed by the listing.
- CNA/AFP/al
- wong chee tat :)
POSTED: 27 Aug 2013 6:06 PM
Announcing plans to list its property arm Frasers Centrepoint (FCL) by the end of this year, Frasers and Neave said it will be distributing two FCL shares for every F&N share held by its shareholders for free, subject to relevant approvals.
SINGAPORE: Singapore-based food and beverage conglomerate Fraser and Neave (F&N) has announced plans to list its property arm Frasers Centrepoint (FCL) by the end of this year.
In a media statement, the conglomerate said it will be distributing two FCL shares for every F&N share held by its shareholders for free, subject to relevant approvals.
F&N and FCL will be traded separately, with the listing expected in November or December this year.
The listing is "by way of introduction (so) there is no capital raised," Frasers Centrepoint chief financial officer Chia Khong Shoong told reporters.
After the completion of the proposed transaction, F&N will no longer have any interest in FCL. The conglomerate will be left with its food and beverage, and printing and publishing businesses.
F&N said: "It provides sharper focus on the growth of the food and beverage and properties businesses as independently-listed entities, and paves the way for further growth in both sectors."
F&N's move to spin off its property arm followed the S$13.8 billion (US$10.7 billion) takeover of the 130-year-old company by Thai billionaire Charoen Sirivadhanabhakdi earlier this year.
Charoen's company, TCC Assets, which holds around 62 percent of F&N, said it will vote for the proposal.
F&N became a takeover target after it sold off its most prized asset, Tiger Beer maker Asia Pacific Breweries, to Dutch giant Heineken in September last year.
The proposed transaction is subject to approval by F&N shareholders at an extraordinary general meeting in November, followed by the listing.
- CNA/AFP/al
- wong chee tat :)
Tuesday, October 23, 2012
eCO condominium in Bedok sees strong sales
eCO condominium in Bedok sees strong sales
Posted: 23 October 2012 1400 hrs
SINGAPORE: 515 units out of the 603 units released at eCO condominium project have been sold within a month.
They were launched for sale on September 22.
The 748-unit development, located at Bedok South is a joint venture between Far East Organization, Frasers Centrepoint and Sekisui House.
The developers said all 240 two- and three-bedroom condominium units have been sold out.
Meanwhile, about half of the SOHO and suite units were snapped up, mostly by buyers aged 30 to 49 years.
In a joint statement released on Tuesday, the developers added that over 90 per cent of the buyers were Singaporeans or Singapore Permanent Residents.
And majority of the buyers are living in the Bedok, Chai Chee, Marine Parade, and East Coast districts.
Prices for units at eCo start from S$810,000 for a one-bedroom suite.
The project is estimated to be completed in 2017.
- CNA/fa
- wong chee tat :)
Posted: 23 October 2012 1400 hrs
SINGAPORE: 515 units out of the 603 units released at eCO condominium project have been sold within a month.
They were launched for sale on September 22.
The 748-unit development, located at Bedok South is a joint venture between Far East Organization, Frasers Centrepoint and Sekisui House.
The developers said all 240 two- and three-bedroom condominium units have been sold out.
Meanwhile, about half of the SOHO and suite units were snapped up, mostly by buyers aged 30 to 49 years.
In a joint statement released on Tuesday, the developers added that over 90 per cent of the buyers were Singaporeans or Singapore Permanent Residents.
And majority of the buyers are living in the Bedok, Chai Chee, Marine Parade, and East Coast districts.
Prices for units at eCo start from S$810,000 for a one-bedroom suite.
The project is estimated to be completed in 2017.
- CNA/fa
- wong chee tat :)
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