Frasers Property logs S$1.4 billion in regional pre-sales, says it’s well-placed to manage upcoming debt

[SINGAPORE] Frasers Property has achieved pre-sold revenue of S$1.4 billion so far in financial year 2025 for its projects in Singapore, Australia, China and Thailand, the real estate group said on Thursday (Aug 7), in a business update for its third quarter ended June.

In Singapore, the group said that the residential market remains resilient, underpinned by strong homeownership rates and continued investment appeal.

It also noted that residential sales volume rose year on year, driven by a pickup in private residential launches in the second quarter and a moderation in interest rates. 

For the first nine months of FY2025, the group sold 712 units in the city-state, with unrecognised revenue amounting to S$400 million as at end-June.

Among its developments, 41 per cent of the units at the Robertson Opus were sold; at The Orie in Toa Payoh, the figure was 91 per cent.

Meanwhile, Sky Eden@Bedok is on track for completion by the first quarter of FY2026.

In Australia, the group noted that mean dwelling prices rose in Q2, and that residential housing demand improved following recent interest rate cuts.

Unrecognised revenue there stood at S$500 million as at Jun 30, with 1,672 contracts on hand, it noted. 

Frasers also highlighted proactive leasing strategies and the portfolio repositioning of its office assets to mitigate softer occupancy and valuation pressures. 

It said that office metrics weakened due to planned vacancies in Lee Street in Sydney, stemming from deliberate non-renewal of leases to support potential redevelopment. 

At Rhodes Quarter, also in Sydney, continued leasing efforts and tenant retention helped sustain weighted average lease expiry and occupancy levels despite challenging market conditions.

The group pointed out that Thailand’s residential segment remained subdued, though signs of improvement are emerging.

In China, the residential portfolio delivered a stable performance, supported by steady sales and timely project completions.

Frasers Property said that it is well-positioned to meet all debt obligations due in the next 12 months, either through repayment or refinancing. As at end-June, its net debt stood at S$15.3 billion, up 5.3 per cent from end-September 2024. Its net debt-to-equity ratio worsened by 5.8 percentage points to 89.2 per cent. 

Frasers Property closed flat at S$0.955 on Thursday, before the announcement.