Broker: DBS Bank Date of Report: Inferred as April 2026 (latest cited data is 4/9/26)

Excerpt from DBS Bank report.

Report Summary

• Stock: Frasers Property Ltd (FPL_SP_Equity)
• Action: BUY (Maintain)
• Target Price: SGD 1.50 (unchanged)
• Key Idea: FPL trades at a deep value, with its stake in various REITs/listed entities near its market cap. Kallang Close land acquisition with Mitsubishi Estate marks a long-awaited win, supporting FPL’s residential development pipeline.
• Implications: The Kallang Close bid was competitive and pricing was at the higher end, reinforcing developer confidence in city-fringe residential demand. The acquisition is expected to marginally increase FPL’s RNAV by c.1%-2% (SGD 0.02–0.03), strengthening its pipeline. Land prices in the area are trending higher, signaling continued support for residential prices in the medium term.

above is an excerpt from a report by DBS Bank. Clients of DBS Bank can be the first to access the full report from the DBS Bank website: https://www.dbs.com/insightsdirect/company/TR5000074538