Broker Name: DBS
Date of Report: Inferred as April 2026 (based on internal references)

Excerpt from DBS report.

Report Summary

• Stock: Frasers Property Ltd (FPL_SP_Equity)
• Action: Maintain BUY
• Target Price: SGD 1.50 (unchanged)
• Key Idea: FPL is viewed as a deep value property play, trading at a low valuation with significant stakes in various REITs and listed entities that are close to its market cap.
• Highlights:
  • FPL and Mitsubishi Estate won a tightly contested bid for the Kallang Close site at SGD 1,415 psf ppr, which is within the range of recent land sales and reflects developer confidence in city-fringe demand.
  • The acquisition is expected to result in a marginal accretion of 1-2% to FPL’s RNAV, strengthening its residential development pipeline.
  • Recent land prices in the area show a gradual rise, supporting expectations for higher residential prices over the medium term.

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