Broker: DBS Group Research
Date of Report: 18 May 2026
Excerpt from DBS Group Research report.
Report Summary
- Stock Focus: Frasers Property Ltd (FPL SP)
- Action: BUY
- Target Price: SGD 1.50 (current price SGD 1.13)
- Key Idea: Frasers Property Ltd sold the Eastern Creek Quarter retail center in Sydney for AUD 400mn (SGD 368mn) to Vicinity Centres. The transaction price of AUD 9,800/sqm is considered firm, reflecting the scarcity value of Sydney retail assets.
- Highlights: The divestment demonstrates FPL’s ability to develop, stabilise, and monetise assets, reinforcing its capital recycling and value-unlocking strategy. This move enhances FPL’s balance sheet flexibility and shows continued liquidity in quality retail assets, even in a high interest rate environment. The sale is expected to generate strong gains for FPL.
- Implication: The transaction supports the analyst’s maintained BUY call and SGD 1.50 target price, based on a 45% discount to RNAV.
above is an excerpt from a report by DBS Group Research. Clients of DBS Group Research can be the first to access the full report from the DBS Group Research website : https://www.dbs.com/insightsdirect
