Frasers Property takes prudent stance in Singapore residential market
This takes the form of a S$93.95m writedown on properties held for sale to make its residential development portfolio more robust
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Nisha Ramchandani
Singapore
FRASERS Property Limited has been taking a cautious approach to the Singapore residential market, given elevated land prices and a slow take- up rate from home buyers. But it continues to actively review opportunities, group chief executive officer Panote Sirivadhanabhakdi said at the group's earnings briefing on Monday.
"Singapore is still our home-ground, but we have to be resilient and not just invest for the sake of investing," he said in relation to the group's residential strategy for Singapore.
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