Singapore: Frasers Property has announced the creation of a new business unit aimed at growing capital partnerships with long-term investors across markets and asset classes.
Frasers has recruited Wong Ping to serve as chief investment officer. Based at the Singapore headquarters, Wong joined in July and reports to chief corporate officer Chia Khong Shoong. She has more than 25 years of experience in real estate investment management. Her most recent position was as head of Asia indirect investments at CBRE IM, which she left in June after more than four years.
“Forming Frasers Property Capital now to work with aligned partners, as part of our wider asset and capital management strategy, is a natural evolution in our journey,” he said. “We look forward to having Ping lead and deepen our relationships with long-term capital partners, working alongside our business units,” said Chia.
Wong added: “The group has earned its reputation by purposefully growing its business where we have accumulated local and sector knowledge with the support of our tenants and customers,” she said. “This approach is complementary to how we intend to scale and align sustainably with our partners.”
Prior to setting up Frasers Property Capital, Frasers has been managing real estate investment trusts, with the company currently sponsoring three REITs, Frasers Centrepoint Trust, Frasers Hospitality Trust and Frasers Logistics and Commercial Trust.
Frasers Property is seeking to take SGX-listed Frasers Hospitality Trust private in an all-cash deal that values the REIT at S$1.35 billion ($970 million).
Comprising 14 hotels and serviced residences across Asia, Australia and Europe, FHT’s portfolio is valued at S$2 billion and includes Fraser Suites serviced apartment complexes in Australia, Singapore and the UK.
