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Frasers Logistics buys nearly S$1b in European properties

In its first foray into Europe, it buys 17 German properties and four Dutch ones to gain market prominence

Published Fri, Apr 20, 2018 · 09:50 PM
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Singapore

FRASERS Logistics & Industrial Trust (FLT) is making its first foray into Europe with the acquisition of 21 German and Dutch properties worth 596.8 million euros (S$972.8 million).

At a media briefing on Friday, Robert Wallace, chief executive of Frasers Logistics & Industrial Asset Management, the manager of FLT, said that a huge push into the market was needed because Europe requires significant economies of scale and a platform presence.

He said: "If you go in on a piecemeal basis, you get pushed around to a certain extent, and you will not have mark…

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