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Frasers Property plans sale of 2,500 residential units Down Under

Frasers Property Ltd. will launch the sale of 2,500 housing units primarily in the Australian states of New South Wales and Victoria during the fiscal year ending Sept. 30.

The Singapore-headquartered diversified real estate company is also scheduling to wrap up its construction of approximately 3,000 property units in the same period, following its settlement of more than 1,300 units within the first half of the 2018 fiscal year, according to an earnings release.

The company has plans to "actively" up its land bank after having acquired sufficient site area for the development of roughly 185 residential units carrying a gross development value of an estimated S$111 million. Frasers Property also added to its portfolio 62.5 hectares worth of industrial plots.

To date in the current fiscal period, the company pushed to make purchases and investments outside Singapore to build up its logistics and industrial asset portfolios. These acquisitions included a 22-asset portfolio of logistics and light industrial properties in Germany and Austria, and a 26.1% stake in Thai logistics and industrial property developer Ticon Industrial Connection PCL.