An eye on growing its landbank

SINGAPORE'S property market has cooled somewhat but Frasers Centrepoint Limited (FCL) remains fired up. The global property player is looking to grow its landbank albeit through moderate bids, tap its strength in mixed-use development and scale up its hospitality arm.

In fact, given the speed at which its hospitality business is growing, it is starting to consider having a fund to manage those acquired assets.

"If we have a hospitality fund that can work with us, that will be an attractive proposition," said group chief executive officer Lim Ee Seng. "Nothing has been confirmed, but this is worth exploring."

As part of its buying spree, FCL snapped up Spanish company Teycotel BCN for 948,000 euros (S$1.6 million) last month; the company owns Hotel Porta Marina in Barcelona and the hotel's operator. In Germany, FC…