Frasers Property Ltd. · SGX:TQ5
Frasers Property — H1 2018 Earnings Presentation
80 slides from Frasers Property's earnings presentation, May 10, 2018
Slide 1: Financial Results Presentation for the First Half ended 31 March 2018
Frasers Property Limited Financial Results Presentation for the First Half ended 31 March 2018 10 May 2018 Frasers Property Australia, Melbourne office, Australia
Slide 2: Important notice
Important notice Statements in this presentation constitute “forward-looking statements”, including forward-looking financial information. Such forward- looking statements and financial information involve known and unknown risks, uncertainties and other factors which may cause the actual results, p
Slide 3: Contents
Contents Key highlights Operational updates o Singapore o Australia o Hospitality o Europe & rest of Asia Results & financials Appendices 3
Slide 4: Key highlights
Key highlights Frasers Hospitality, Alexandra Point office, Singapore
Slide 5: Key highlights
Key highlights Anchored by recurring income sources Recurring income as a proportion of operating PBIT rose 8 ppt in 1H FY18 to 71%, Achieved supporting earnings amid lower development income due to timing of overseas healthy project completions 1H FY18 results 2.4 SG cents S$1,582 Million S$193 Mil
Slide 6: Key highlights
Key highlights Integrated Australia Europe Thailand value chain Frasers Property TICON Industrial Frasers Property Scaled Australia Europe Connection Public Development, Company Limited logistics & property and asset Secured ~62 ha Acquired Alpha (“TICON”) across four Industrial and six industrial m
Slide 7: Key highlights
Key highlights Acquired Four wholly-owned business parks in the United Kingdom (the “UK”) and one Grew portfolio business park in the UK via 50:50 joint venture with Frasers Commercial Trust of recurring Hospitality site in Ginza, Tokyo to develop Capri by Fraser, with scheduled opening by 2021
Slide 8: Recurring income base provides resilience and stability
Recurring income base provides resilience and stability ~80% of the Group’s total property assets are recurring income assets >70% of the Group’s operating PBIT1 1H FY18 is from recurring income Recurring vs Non-Recurring Operating PBIT1,2 Total Property Assets3: S$26.5 Billion 100% 80% Logistic
Slide 9: Increasing geographic diversification
Increasing geographic diversification >50% of the Group’s total assets are outside of Total Assets by Geographical Segment: S$29.9 Billion Singapore Others2, S$3.4 B, ~70% of the Group’s PBIT1 is generated from 11% overseas markets Singapore, S$13.1 B, Focus on two to three core markets to bui
Slide 10: Operational update: Singapore
Operational update Singapore North Seaside Park Residences, Singapore
Slide 11: Singapore Residential
Singapore Residential Earnings anchored by completion of Parc Life Executive Condominium and strong pre-sales TOP for Parc Life EC Solid pre-sales rate for existing launches with S$0.9 billion of unrecognised revenue o North Park Residences fully sold o Parc Life Executive Condominium (“EC”) 90%3
Slide 12: Singapore Retail
Singapore Retail Opening of the south wing of Northpoint City boosts recurring income The south wing of Northpoint City commenced Portfolio Metrics1 1H FY18 1H FY17 Change trading in December 2017 with lease commitments for more than 90% of the entire Northpoint City Average Occupancy2 92.4% 92.1%
Slide 13: Singapore Commercial
Singapore Commercial Achieved pre-lease commitments for over 70% of Frasers Tower Development and leasing of Frasers Tower Portfolio Metrics1 1H FY18 1H FY17 Change progressing well o Strong pre-commitments with tenants including Average Occupancy2 72.8% 87.7% 14.9 pp blue-chip/Fortune 500 compani
Slide 14: REIT - Frasers Centrepoint Trust
Singapore REIT - Frasers Centrepoint Trust (“FCT”) Steady performance and higher DPU1 2Q FY18 DPU up 2.0% year-on-year (“y-o-y”) to Financial Highlights 2Q FY18 2Q FY17 Change 3.10¢ Revenue growth driven mainly by the north wing of Gross Revenue S$48.6 m S$45.7 m 6.3% Northpoint City with higher
Slide 15: REIT - Frasers Commercial Trust
Singapore REIT - Frasers Commercial Trust (“FCOT”) 2Q FY18 DPU stable quarter-on-quarter 2Q FY18 distribution income was stable q-o-q and Financial Highlights 2Q FY18 2Q FY17 Change decreased 4.4% y-o-y, mainly due to the lower occupancy rates for the properties in Singapore, Gross Revenue S$33.0
Slide 16: Singapore PBIT breakdown
Singapore PBIT breakdown Commencement of operations at the south wing of Northpoint City Progressive development profits from North Park Residences and Seaside Residences Segment 1H FY18 1H FY17 Change Residential S$39.9 m S$33.4 m 19.5% Retail & Commercial (Non-REIT) S$41.1 m S$27.8 m 47.8% REI
Slide 17: Singapore Operating environment
Singapore Operating environment Recovery in the Residential and Office Markets Higher GDP Growth estimate of 4.3% and New homes sold in March 2018 Strong Residential Price Recovery in 1Q18 Lower Unemployment Rate of 2.0% in 1Q18 Up 87% Month-on-Month 144.1 6.0% 145 12,000 10,566 4.3% 10,000 7,972 4.
Slide 18: Operational update: Australia
Operational update Australia North Ryde (Centrale), NSW, Australia
Slide 19: Australia Residential
Australia Residential High level of secured earnings underpins outlook for FY18 performance 1,3441 units Settled in 1H FY18 Planned release of over 2,5001 units in FY18 1,6561 Units Planned for o Mainly in NSW and VIC Completion and Settlement o 4201 units released for sale during 1H FY18 over the
Slide 20: Australia Commercial & Industrial and Retail Development
Australia Commercial & Industrial and Retail Development Strong workload with quality tenants Delivered five facilities totalling 137,000 sq m o Two projects with a GDV of S$67 million4, sold1 to 5 Frasers Logistics and Industrial Trust (“FLT”) Facilities Delivered o One facility with a GDV of S$3
Slide 21: Australia Investment
Australia Investment Strong portfolio metrics maintained Industrial Portfolio Metrics2 1H FY18 1H FY17 Change 97.4% portfolio occupancy1 Strong tenant profile Average Occupancy1 98.8% 97.8% 1.0 pp o 56% multinational companies Average Rental Reversion -6.7% -2.9% 3.7 pp o 20% Australian Securiti
Slide 22: REIT - Frasers Logistics and Industrial Trust
Australia REIT - Frasers Logistics and Trust (“FLT”) 2Q DPU up 3.4% y-o-y1 DPU of 1.81 Singapore cents for 2Q FY18 Financial Highlights 2Q FY18 2Q FY17 Change Executed three leases with a total gross lettable area of 34,527 sq m; average reversion of -7.3% for Revenue A$43.6 m A$40.9 m 6.4% the
Slide 23: Australia PBIT breakdown
Australia PBIT breakdown Higher development profit recognition from residential projects Stable contributions from recurring income sources Segment 1H FY18 1H FY17 Change Residential Development S$67.0 m S$12.8 m N/M Investment Properties / Commercial & Industrial Development S$39.9 m S$37.6 m 6
Slide 24: Australia Operating environment
Australia Operating environment GDP in Line with RBA Expectations and Sydney and Melbourne Sydney and Melbourne Low Unemployment Rate House Price Growth Slowing Unit Price Growth Slowing Source: ABS, 18 Apr 18 Source: CoreLogic RP Data 3 Month Rolling Simple Median Price Source: CoreLogic RP Data 3
Slide 25: Operational update: Hospitality
Operational update Hospitality Fraser Suites Shenzhen, China
Slide 26: Hospitality Management business
Hospitality Management business Continued growth with openings and new sign-ups 3 New openings New Openings o Fraser Suites Shenzhen, China, in December in 1H FY18 2017 o Fraser Suites Riyadh, Saudi Arabia, in February 2018 o Fraser Suites Dalian, China, in March 2018 New management contracts an
Slide 27: Hospitality Investment
Hospitality Investment North Asia Acquired a site in Tokyo’s Ginza district 1H 1H Portfolio Data1 Change FY18 FY17 o To be developed into a 199-unit hotel residence under the Capri by Fraser brand Average Occupancy Rate 92% 82% 10 pp o Expected to open by 2021 Average Daily Rate S$171 S$167 2% Rev
Slide 28: Hospitality Investment
Hospitality Investment Asia Pacific excluding North Asia Europe 1H 1H 1H 1H Portfolio Data1 Change Portfolio Data1 Change FY18 FY17 FY18 FY17 Average Occupancy Rate 85% 85% - Average Occupancy Rate 80% 80% - Average Daily Rate S$217 S$228 5% Average Daily Rate S$204 S$192 6% Revenue per Available Ro
Slide 29: REIT - Frasers Hospitality Trust
Hospitality REIT - Frasers Hospitality Trust (“FHT”) DPS1 for 2Q FY18 at 1.1126¢ GR2 and NPI3 decreased y-o-y by 3.1% and 4.0% Financial Highlights 2Q FY18 2Q FY17 Change respectively due to weaker overall portfolio Gross Revenue S$37.5 m S$38.7 m 3.1% performance except Japan and Singapore Perf
Slide 30: Hospitality PBIT breakdown
Hospitality PBIT breakdown Operating performance Segment 1H FY18 1H FY17 Change Non-REIT S$21.8 m S$27.2 m 19.9% REIT S$39.3 m S$46.8 m 16.0% Fee Income (S$1.5 m) S$7.4 m 120.3% TOTAL S$59.6 m S$81.4 m 26.8% Non-REIT: Affected by (a) lower contribution from Malmaison Hotel du Vin properties in the
Slide 31: Operational update: Europe & rest of Asia
Operational update Europe & rest of Asia Business Baitang ParkOne, Ratingen, Suzhou, Germany China
Slide 32: Europe & rest of Asia: Germany and the Netherlands
Europe & rest of Asia Germany and the Netherlands Continued to grow portfolio of high quality logistics and industrial assets Ongoing buyout of remaining 0.55% minority stake in Overall Portfolio Metrics 1H FY18 1H FY17 Change Geneba Average Occupancy 99.4% 99.1% 0.4 pp Acquisition4 of Alpha Ind
Slide 33: Europe & rest of Asia: United Kingdom
Europe & rest of Asia United Kingdom S$1.9 billion1 of property assets across residential, commercial and business park segments Business Parks Business Park Portfolio Metrics As at March 2018 o Acquired four business parks – three in the Net Lettable Area ~5.4 m sq ft Thames Valley and one in Gla
Slide 34: Europe & rest of Asia: China
Europe & rest of Asia China Steady residential sales despite headwinds 2452 units sold in 1H FY18 Completed Phase 3B of the Baitang One residential 139 Units2 development in Suzhou Completed and Settled Targeting to complete Phase 4F of the Gemdale in 1H FY18 Megacity1 residential development
Slide 35: Europe & rest of Asia: Thailand Multi-Segment
Europe & rest of Asia Thailand Multi-Segment One Bangkok Planning approval (EIA) received for 1.83 million 16.7 Hectares Total Size, sqm fully integrated, mixed use district development. 8 Hectares Ground-breaking ceremony on 8 March 2018 with of Green Areas, and phased completion from 2022 onwa
Slide 36: Europe & rest of Asia: Thailand Logistics & Industrial
Europe & rest of Asia Thailand Logistics & Industrial TICON 11.4% y-o-y increase in revenue to S$86 million1 The Thai Economy Grew in 2017, Faring Better than the Previous Two Years (THB2.1 billion2) and 73.5% y-o-y increase in net 5% 3.1% 3.6% 3.2% 3.0% 3.4% 3.9% 4.3% 4.0% 4% 2.8% profit to S$20
Slide 37: Europe & rest of Asia: Vietnam
Europe & rest of Asia Vietnam Strong growth potential In January 2018, Frasers Property launched Q2 Rapidly Growing Economy with Stable Inflation Thao Dien, our first mixed use development project 8.00% 6.70% 6.81% 7.38% 6.20% 6.40% in Ho Chi Minh City 6.00% 5.50% 5.50% 5.90% 5.10% 5.70% 4.96% o Q
Slide 38: Europe & rest of Asia PBIT breakdown
Europe & rest of Asia PBIT breakdown Maiden contributions from Geneba Properties in Europe and business parks in the UK, as well as higher contributions from Thai associates, partially offset timing impact of project completions in China Segment 1H FY18 1H FY17 Change Europe S$64.1 m S$12.8 m N/M
Slide 39: Results and financials
Results and financials Frasers Property Europe, Amsterdam office, The Netherlands
Slide 40: Key financial highlights
Key financial highlights APBFE1 amounted to S$193 million in 1H FY18 New recurring income sources from Europe, including the UK, add to recurring income base Contributions from recurring income base partially offset impact from timing of overseas project completions 1H FY18 1H FY17 Change Revenu
Slide 41: PBIT by business segments
PBIT by business segments Business Segment 1H FY18 1H FY17 Change Remarks • Stable contributions from recurring income sources • Commencement of operations at the south wing of Northpoint City Singapore S$192.1 m S$190.6 m 0.8% • Development profits from North Park Residences and Seaside Residences
Slide 42: Capital management
Capital management Gearing increased due mainly to the acquisitions of business parks (UK), industrial properties (Germany), land for the development of serviced apartments (Japan) and land for residential development at Jiak Kim Street (Singapore) As at 31 Mar 18 As at 30 Sep 17 Change Total Equity
Slide 43: Debt maturity profile
Debt maturity profile Frasers Property is well-equipped to manage its debt maturity Clear visibility over future cash flows Continuing efforts to extend debt maturities Capital productivity optimisation through REIT platforms and active asset management initiatives S$ million 3,500 3,248 3,300
Slide 44: Key financial ratios
Key financial ratios Financial ratios based on full-year results are a better reflection of performance as timing of completions and profit recognition of development properties can distort financial ratios over a shorter period 1H FY18 results were affected by the absence of revenue recognition
Slide 45: Dividends
Dividends Interim dividend of 2.4 Singapore cents for 1H FY18 on the back of healthy first half results 1H FY18 1H FY17 1H FY16 Interim Dividend 2.4 Singapore cents 2.4 Singapore cents 2.4 Singapore cents Providing steady returns FY17 FY16 FY15 Interim Dividend 2.4 Singapore cents 2.4 Singapore
Slide 46: Appendix I
Appendix I Camberwell Winnershon Triangle, the Green, United London, Kingdom UK
Slide 47: Overview of Frasers Property
Overview of Frasers Property Multi-national real estate company with multi-segment expertise Over 98,000 S$6.3 Billion S$33.7 billion assets under management1 across 5 asset classes Residential Units Retail Assets Under Three strategic business units – Singapore, Australia, Completed and Settled
Slide 48: Frasers Property strategy
Frasers Property strategy Achieve sustainable earnings growth through significant Sustainable development pipeline, investment Earnings properties, Growth and fee income + Sustainable Grow portfolio Growth and in a balanced manner across geographies and property segments Balanced Portfolio = Long-Te
Slide 49: Earnings visibility from development pipeline
Earnings visibility from development pipeline Pre-sold revenue amounting to S$3.1 billion Across Singapore, China and Australia Provides earnings visibility over the next two to three years S$ billion Unrecognised Revenue from Key Markets 4.0 3.4 3.5 3.1 3.1 0.3 3.1 3.0 0.3 0.4 0.5 2.5 2.2 0.1 2
Slide 50: Scaled platforms in Singapore and Australia
Scaled platforms in Singapore and Australia Singapore Asset Breakdown by Australia Asset Breakdown by Business Segment as at 31 Mar 18 Business Segment as at 31 Mar 18 (S$ Million) (S$ Million) 212.1 449.7 1,550.4 2,418.8 981.2 2,268.6 Total Assets: 13,058.9 Total Assets: 8,155.3 208.8 8,877.6 4,247
Slide 51: Optimising capital productivity
Optimising capital productivity REIT platforms and active asset management help optimise capital productivity S$ million 1,800 1,600 1,400 1,200 1,000 FLT: 800 Changi City Point: 1,700 1 153 600 400 FHT: Sofitel Sydney: 655 223 200 357 Collins St: Industrial Assets: 224 240 3 0 4 FY14 FY15 FY16 2 FY
Slide 52: Singapore Residential
Singapore Residential Among the top residential property developers in Singapore Strong Over 20,000 homes built Pre-Sales Two projects currently under development o North Park Residences o Seaside Residences Won the Jiak Kim Street site sold under the Government Land Sale programme in December
Slide 53: Singapore Retail and Commercial
Singapore Retail and Commercial One of the largest retail mall owners and / or operators in Singapore, with established REIT platforms that facilitate efficient capital recycling 111 Retail Malls with ~2.2 million sq ft of Net Lettable Area (“NLA”) across Singapore 112 Office and Business Space
Slide 54: Singapore REIT - Frasers Centrepoint Trust
Singapore REIT - Frasers Centrepoint Trust 41.9%1 stake in a stable retail REIT with six properties 2Q FY18 Portfolio Country Properties Portfolio Value1 Net Property Income Causeway Point Northpoint City North Wing (including Yishun 10 retail podium) Changi City Point Singapore S$2,674.2 million S$
Slide 55: Singapore REIT - Frasers Commercial Trust
Singapore REIT - Frasers Commercial Trust 24.9%1 stake in an office and business space/parks REIT with seven properties 2Q FY18 Portfolio Country Properties Portfolio Value1 Net Property Income 2 office assets – China Square Central, 55 Market Street Singapore S$1,226.0 m (55%) S$10.5 m (42%) 1 busi
Slide 56: Australia: Frasers Property Australia
Australia Frasers Property Australia One of Australia’s leading diversified property groups Development Pipeline Gross Development Value5 17,100 pipeline residential development units1 Strong commercial & industrial and retail Residential 1 S$8.8 b development pipeline Commercial & Industrial 2
Slide 57: Australia REIT - Frasers Logistics & Industrial Trust
Australia REIT - Frasers Logistics & Industrial Trust 20.36%1 stake in logistics and industrial trust with 61 quality assets 2Q FY18 Country Properties Portfolio Value2 Adjusted Net Property Income3 Victoria – 30 logistics and industrial assets New South Wales – 15 logistics and industrial assets Au
Slide 58: Hospitality: Frasers Hospitality
Hospitality Frasers Hospitality Well established hospitality brands with quality assets in prime locations International footprint cannot be easily replicated Scalable operations in more than 80 cities in over 20 countries Breakdown of Total Units by Geography International Footprint NB: Figures
Slide 59: Hospitality REIT - Frasers Hospitality Trust
Hospitality REIT - Frasers Hospitality Trust 23.3% stake in global hotel and serviced residence trust; 15 quality assets1 2Q FY18 Portfolio Country Properties Portfolio Value 1,2,3 Net Property Income 2 Australia 3 hotels , 1 serviced residence S$806.8 m (A$796.8 m) (33%) 41% Singapore 1 hotel, 1 se
Slide 60: Europe: Germany and the Netherlands
Europe & rest of Asia Germany and the Netherlands Properties in key industrial and logistics markets in Germany and the Netherlands S$1.3 billion1 portfolio focused on strong tenants in key industries in Germany and the Netherlands 14 logistics, 10 light industrial properties and 3 cross dock faci
Slide 61: Europe: United Kingdom
Europe & rest of Asia United Kingdom Business Parks Business parks in the UK o Four business parks in Thames Valley1 and one in Glasgow Winnersh Chineham Watchmoor Hillington Farnborough Triangle Park Park Park Business Park o Platform of 5.4m sq ft let to over 460 tenants with a portfolio value o
Slide 62: Europe & rest of Asia: China, Thailand, and Vietnam
Europe & rest of Asia China, Thailand, and Vietnam China Thailand Vietnam 9,900 Homes 39.9% Stake Built to Date; Rapidly in Golden Land 3 Projects Growing Property Under Market Development Development 67.0%1 Stake 70.0% Stake S$0.3 Billion in TICON in Q2 Thao Dien, Unrecognised a Commercial and Indu
Slide 63: Appendix II
Appendix II Victoria at the Clifford WolliHallam CreekHealthcare (Discoverywarehouse, Point), NSW,Melbourne Australia
Slide 64: Notes on profit recognition: Singapore
Notes on profit recognition1 Singapore Estimated Target Effective Total No. % of % Total Project Completion Share (%) of Units Units Sold Completion Saleable Area Date （m sq ft) Soleil @ Sinaran 100.0 417 100.0 100.0 0.5 Completed Q Bay Residences 33.3 632 99.8 100.0 0.6 Completed Parc Life (EC) 80.
Slide 65: Notes on profit recognition: Australia (Residential)
Notes on profit recognition Australia (Residential) Estimated % of Target Effective Total No. Total Project 1 Units Completion Share (%) of Units 2 Saleable Area Sold Date （m sq ft) Cockburn Central (Cockburn Living, Kingston Stage 4) - H/MD, WA 100 60 95.0 0.1 Completed Cockburn Central (Cockburn L
Slide 66: Notes on profit recognition: Australia (Residential)
Notes on profit recognition Australia (Residential) % of Estimated Total Target Effective Total No. Project 1 Units Saleable Area Completion Share (%) of Units 2 Sold （m sq ft) Date Coorparoo (Coorparoo Square, Central Tower) - HD, QLD 50 96 88.5 0.1 Completed Coorparoo (Coorparoo Square, North Towe
Slide 67: Notes on profit recognition: Australia (Residential)
Notes on profit recognition Australia (Residential) % of Estimated Target Effective Total No. Project 1 Units Total Saleable Completion Share (%) of Units 2 Sold Area （m sq ft) Date Park Ridge (The Rise) - L3, QLD 100 379 98.9 n/a 1Q FY19 Greenvale (Greenvale Gardens) - L3, VIC 100 626 98.7 n/a 1Q F
Slide 68: Notes on profit recognition: Australia (Residential)
Notes on profit recognition Australia (Residential) % of Estimated Target Effective Total No. Project 1 Units Total Saleable Completion Share (%) of Units 2 Sold Area （m sq ft) Date Carlton (Encompass) - H/MD, VIC 65 114 6.1 0.1 4Q FY20 Blacktown (Fairwater) - H/MD, NSW 100 800 60.4 n/a 4Q FY21 Bald
Slide 69: Notes on profit recognition: Australia (C&I)
Notes on profit recognition Australia (C&I) Total % Target Effective Type Site Area Revenue Completion Share (%) (m sq ft) to Go Date Horsley Park (Vivin), NSW PDA1 0.3 100 3Q FY18 Eastern Creek (Rhino & Spec), NSW 100 0.3 100 3Q FY18 Keysborough (Spec 6 - Silvan/Rubies/GH Cabinets), VIC 100 0.3 100
Slide 70: Notes on profit recognition: Australia (C&I)
Notes on profit recognition Australia (C&I) Total % Target Effective Type Site Area Revenue Completion Share (%) (m sq ft) to Go Date Derrimut (Primewest)1, VIC 100 0.2 1 3Q FY18 Development Keysborough (CH2)1,2, VIC 100 0.2 68 3Q FY18 for Third Party Sale Yatala (Schutz Australia), QLD 100 0.1 100
Slide 71: Notes on profit recognition: Australia (Retail)
Notes on profit recognition Australia (Retail) Total % Target Effective Type Site Area Revenue Completion Share (%) (m sq ft) to Go Date Development for Third Party Sale Shell Cove (SCA)1 - Retail, NSW 100% 0.0 93 1Q FY19 NB: Profit on sold sites is recognised on percentage of completion basis 1. So
Slide 72: Notes on profit recognition: China
Notes on profit recognition1 China Saleable Target Effective Total No. % of Project Area Completion Share (%) of Units2 Units Sold （m sq ft) Date Baitang One (Phase 1B), Suzhou 100 542 100.0 0.7 Completed Baitang One (Phase 2A), Suzhou 100 538 100.0 0.8 Completed Baitang One (Phase 2B), Suzhou 100 3
Slide 73: Notes on profit recognition: UK
Notes on profit recognition1 UK Saleable Target Effective Total No. % of Project Area Completion Share (%) of Units2 Units Sold （m sq ft) Date Five Riverside Quarter 100 149 87% 0.1 Completed Seven Riverside Quarter 100 87 63% 0.1 Completed Camberwell Green 100 101 60% 0.1 Completed 1. Profit is rec
Slide 74: Land bank: Singapore
Land bank Singapore Effective Share Estimated Total Saleable area Site (%) No. of Units1 (m sq ft) Jiak Kim Street 100 500 0.5 – 0.6 1. Subject to planning approval 74
Slide 75: Land bank: Australia
Land bank Australia Estimated Total Effective Estimated Total Type Site 1 Saleable Area Share (%) No. of Units 2,3 (m sq ft) Macquarie Park - HD, NSW PDA4 2271 2 Edmondson Park - H/MD, NSW 100 1810 2 Wyndham Vale - L, VIC 100 1191 n/a Deebing Heights - L, QLD 100 927 n/a Burwood East (Burwood Brickw
Slide 76: Land bank: Australia
Land bank Australia Estimated Total Effective Type Site Type Saleable Area Share (%) (m sq ft) Braeside, VIC 100 Industrial 2.0 Yatala, QLD 100 Industrial 1.7 Truganina, VIC 100 Industrial 1.3 Keysborough, VIC 100 Industrial 0.1 Frasers Property Berrinba, QLD 100 Industrial 0.8 Australia Commercial
Slide 77: Land bank: Australia
Land bank Australia Estimated Total Effective Type Site Type Saleable Area Share (%) (m sq ft) Horsley Park (WSPT Retail), NSW PDA1 Retail 1.6 Frasers Property Wyndham Vale, VIC 100 Retail 0.4 Australia Burwood East (Burwood Brickworks), VIC 100 Retail 0.3 Retail Edmondson Park, NSW 100 Retail 0.3 1
Slide 78: Land bank: China
Land bank China Estimated Total Effective Estimated Total Site Saleable Area Share (%) No. of Units2 (m sq ft) Baitang One (Phase 3C2), Suzhou 100 377 0.5 Chengdu Logistics Hub (Phase 2A), Chengdu 80 179 1.0 Gemdale Megacity (Phase 4–6), Songjiang, Shanghai 45 1,576 1 2.1 1. Excluding launched units
Slide 79: Land bank: UK
Land bank UK Effective Share Estimated Total Saleable area Site (%) No. of Units 1 (m sq ft) Nine Riverside Quarter 100 172 0.2 1. Includes affordable units 79
Slide 80: Capri by Winnersh Fraser, Changi Triangle,
Capri byWinnersh Fraser, Changi Triangle, City, Reading, Singapore UK