(23-08-2015, 04:21 PM)Contrarian Wrote: [ -> ]Yesterday ST Business Section Boss.
I hope they reduce the leverage and generate some breathing room for some purchases at fire sale later...
Thanks buddy...
If only i can cut and paste... hehe
GG
This newly acquired property, to be converted into 259-unit Fraser Suites Dalian, is one of the 16 new properties that Frasers Hospitality will be adding in China, including those in the pipeline.
It is part of the mixed-use Europark Tower development comprising a 100,000 sqm lifestyle shopping mall, offices and luxury residential apartments located in the heart of Donggang CBD within walking distance to Dalian Port and Davos Conference Centre. Fraser Suites Dalian is scheduled to open in 2017.
The latest acquisition brings its portfolio in China to 30 properties with over 7,000 keys by 2019.
Currently, Frasers Hospitality is present in both established and emerging cities, with operational serviced residences in Beijing, Chengdu, Guangzhou, Nanjing, Shanghai, Shenzhen, Suzhou, Tianjin, Wuxi and Wuhan.
Frasers Hospitality chief executive Choe Peng Sum told BT that the company has been strengthening its presence in the second-tier cities since valuations in the first-tier cities have skyrocketed.
As the Chinese government moves some second-tier cities into the so-called "1.5-tier cities", these cities have been growing at breakneck speed with average daily rates in some cases as high as in the first-tier cities, hence justifying the investment yields, Mr Choe said.
The newly acquired Dalian property offers an internal rate of return "north of 8 per cent", he added. "Investing in Dalian, one of the country's top 10 fastest growing cities is our investment in the future of China."
The 16 new properties that Frasers Hospitality is adding in China will place it strategically in the country's most thriving cities, Mr Choe said. These will be located in Changsha, Dalian, Hefei, Nanchang, Shenzhen, Suzhou, Tianjin, Wuxi, Xiamen, Chengdu and Shanghai.
Frasers Hospitality is still open to the first-tier city of Guangzhou, where opportunities are emerging as the city expands its Central Business District. "There are some land we are looking at right now," Mr Choe said.
While recognising the disruptive nature of online apartment-sharing platforms in the likes of Tujia.com, Mr Choe said Frasers Hospitality is looking to work with some of them.
But for now, about 90 per cent of its clientele are still multinational companies and corporate travellers who work with online travel agents like Booking.com, Agoda and Expedia. In China, Frasers Hospitality is working closely with Ctrip International and eLong.
(23-08-2015, 01:46 PM)greengiraffe Wrote: [ -> ] (23-08-2015, 01:12 PM)Contrarian Wrote: [ -> ]Boss:
This area 大连国际会议中心 is probably like the suntec city convention centre, maybe even like marina bay of Dalian. It is a business district and has a waterfront. If it is like marina bay area or sydney circular area, then will be very good.
东港板块以建设中的东港商务区为核心，涵盖中山广场以东、以北的城市黄金区域。该区域主要包括大连的CBD——人民路沿线，以及大连的东部岸线。其中，核心部分改造中的东部港商务区西起人民路延伸段，东至海之韵公园门前，总规划用地面积5.97平方公里——陆域面积2.78平方公里，填海面积3.19平方公里。规划设计有港口服务区、总部办公区、金融商贸区、文化娱乐区、商业服务区、滨海服务区和高档住宅区
The NPI yield is > 7% as I read in ST or chinese zaobao yesterday.
Big Boss,
That is music to the ears. No wonder Towkay decided to put so much $ into the project...
I bought on Friday...
Typical GG, buy liao sure go lower... will break all time low soon...
Prescient. Fcl hit 1.455 now.
(vested and waiting to load)
Sent from my D5503 using Tapatalk
Guru GG, bro thor 666...
I added a little. Maybe too early should wait 2 more days??? Chin Chai La...
How certain is their recurring revenue and the sales pipeline, if u may share?
(24-08-2015, 11:45 PM)Contrarian Wrote: [ -> ]Guru GG, bro thor 666...
I added a little. Maybe too early should wait 2 more days??? Chin Chai La...
How certain is their recurring revenue and the sales pipeline, if u may share?
Dunno,
I thought their presentation slides did mention the breakdown. As far as I m concern, they have yet to replenish their resi landbank in Singapore and sold close to 2/3 of North Point City.
Apart from that their flagship office in Cecil Street could be difficult but otherwise I thought ALZ should come in quite nicely over the medium term.
Story remains intact.
In Godfather We Trust
Gundu G
(24-08-2015, 11:45 PM)Contrarian Wrote: [ -> ]Guru GG, bro thor 666...
I added a little. Maybe too early should wait 2 more days??? Chin Chai La...
How certain is their recurring revenue and the sales pipeline, if u may share?
Based on AR (I'm lazy to check their latest slides) - 2.2B in development and 0.5B in recurring (rent/mgmt/hotel). Recurring around 20%.
FCL will look to rebalance this dependent on market conditions, somewhere at 50:50 ratio.
If you notice their announcements, they are progressively looking to recycle their assets into REITs, so the rebalancing towards recurring income (and likely lesser revenues) is the current trend.
Today's price is as good as any this year imo. Many have forgotten that FCL is fundamentally very strong, their asset values are much more stable.
I will wait a little longer though as I have my eyes on LSE stocks too. Let's see how it goes.
1. Recurring profit : 54.2% (REITs and Australand)
2. 2.2B pre-sales
3. And a ~45% discount to RNAV (hopefully the RNAV and cap rate remains firm).
Australand to develop Edmondson Park
159 words
27 Aug 2015
The Australian Financial Review
AFNR
English
Australand, now controlled from Singapore as member of the Frasers Centrepoint Group, has won the right to buy and develop the Edmondson Park Town Centre at the gateway to Sydney's south west growth corridor.
The 24-hectare site, which adjoins the new Edmondson Park rail station and is 8 kilometres from Liverpool, can be developed to over 900 homes as well as a 45,000 square metres of retail and commercial space.
The NSW government's urban transformation operation, UrbanGrowth NSW, sold the site by tender through Savills and Matrix Property. No price has been disclosed on the deal.
Australand chief executive Rod Fehring, said the project was an ideal opportunity to locate homes near new transport infrastructure.
"This is the very best starting point for great residential communities, and we plan to enhance this opportunity with a carefully conceived mix of retail, business, health and lifestyle amenities," he said.
ROBERT HARLEY