THE ROBERTSON OPUS DEVELOPER

The Robertson Opus Developer are Frasers Property and Sekisui House:

Frasers Property

Frasers Property, a multinational investor-developer-manager headquartered in Singapore, operates across five core asset classes: residential, commercial & business parks, hospitality, industrial & logistics, and retail. Listed on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST), the company has a strong international footprint with assets valued at approximately S$40.1 billion as of 2024. With a focus on sustainability and strategic partnerships, Frasers Property is poised for continued growth and expansion into various global markets, making it an intriguing subject for those interested in real estate development and management strategies.

Business Overview and Listings

Frasers Property Limited boasts a thorough business structure that spans five key asset classes: commercial & business parks, hospitality, industrial & logistics, residential, and retail. As a developer in Singapore, the company operates under a robust framework, listed on the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST) since 9 January 2014. The organization’s headquarters and registered office are located at 438 Alexandra Road, #21-00 Alexandra Point, Singapore 119958.

Frasers Property Limited manages several key holdings and subsidiaries, including sponsored REITs such as Frasers Centrepoint Trust, Frasers Logistics & Commercial Trust, and Frasers Hospitality Trust. The company has also expanded into Thailand with listings on the Stock Exchange of Thailand. The business units include Frasers Property Singapore, Frasers Property UK, Frasers Property Industrial, and Frasers Property International, reflecting a diverse and extensive asset management strategy. This strategic expansion and rebranding strategy, initiated with the company’s name change to Frasers Property Limited in February 2018, signify the company’s commitment to asset management across various sectors and geographical locations.

Frasers Property Limited adheres to the Singapore Personal Data Protection Act 2012 to ensure the proper collection, use, and disclosure of personal data in its operations.

Global Business Operations

Across a vast global landscape, an extensive real estate development and management strategy is critical for success. Frasers Property Developer in Singapore operates with this mindset, leveraging strategic partnerships and diversifying across various asset classes and markets to navigate global market trends and capitalize on cross-border investments.

Frasers Property has established a robust international presence, with operations spanning over 20 countries across Asia, Europe, and the Middle East and Africa. Key collaborations include partnerships with Gelex Group for industrial projects in North Vietnam, YOTEL for hospitality projects in Japan, and joint acquisitions with Tishman Speyer and Alyssa Partners in Shenzhen and Osaka, respectively. In addition, collaborations with Capital Partners aim to enhance operational excellence and growth.

Frasers Property’s growth strategy is centered on fortifying international expansion and deepening its presence in existing cities. Recent openings in Bahrain, Chengdu, and Shanghai, with nine additional properties scheduled to open in the next two years, underscore the company’s commitment to strategic global operations. This approach, combined with a focus on sustainable innovation, positions Frasers Property Developer as a dynamic player in the global real estate landscape.

The company also focuses on environmental sustainability, with over 55% of its portfolio being green-certified as of 2024, demonstrating its commitment to creating eco-friendly spaces across its diverse asset classes.

Residential Projects in Singapore

How does a developer successfully navigate the intricacies of the Singapore residential market? For Frasers Property, it involves a strategic focus on residential and mixed-use developments, where the company has established a strong track record in delivering high-quality projects. Balancing returns with capital efficiency, Frasers Property reviews opportunities in government land sales and private treaty deals, selecting projects based on positive site attributes.

Recent and upcoming residential projects in Singapore highlight the company’s commitment to luxury living and sustainable developments. The redevelopment of Robertson Walk and Fraser Place Robertson Walk will feature 348 luxury residential units alongside mixed-use amenities, showcasing the company’s expertise in creating vibrant and high-quality living spaces. Additionally, collaborations such as the joint venture with City Developments Ltd and Sekisui House for the residential project in Toa Payoh demonstrate Frasers Property’s ability to leverage partnerships to deliver iconic developments. With a robust response to recent launches, including The Orie in Toa Payoh, Frasers Property expects continued healthy demand for projects offering good quality products and desirable site attributes.

The partnership between Frasers Property and Sekisui House 51-49 joint venture underscores their long-standing collaboration aimed at enhancing development capabilities in Singapore’s prime District 9, specifically revitalizing Robertson Quay, Clarke Quay, and Boat Quay.

Commercial and Business Parks

A cornerstone of Frasers Property’s global operations is its extensive portfolio of commercial and business parks, which spans multiple regions including the UK, Australia, and Southeast Asia. This diverse portfolio includes key assets in the UK, such as Winnersh Triangle, Chineham Park, Farnborough Business Park, Watchmoor Business Park, and Maxis in Bracknell, collectively comprising 3.2 million square feet of space within the Thames Valley area.

Notably, the recent acquisition of Lakeshore, Bedfont Lakes Business Park in West London for £135 million marks a strategic expansion into one of London’s most prestigious business park addresses. Fully let to Cisco Systems Limited until 2025, this acquisition underscores Frasers Property’s focus on high-quality, revenue-generating assets.

In leveraging its expertise in business park development and leasing strategies, Frasers Property aims to create vibrant and productive environments for businesses to thrive. Active asset management and strategic leasing efforts contribute to stable demand and positive rental reversion, reinforcing the group’s commitment to growing its commercial and business park assets in key markets globally. This strategic approach is pivotal in enhancing the company’s market presence and delivering long-term value.

Hospitality and Serviced Apartments

With over 26 years of excellence in the hospitality industry, Frasers Hospitality has established itself as a leading global provider of serviced apartments and hotels, offering a diverse range of accommodation options through its five distinctive brands: Fraser Suites, Fraser Residence, Fraser Place, Capri by Fraser, and Modena by Fraser. These brands cater to various needs and preferences, from luxury amenities to personalized services, ensuring a superior customer experience.

Frasers Hospitality span across Asia Pacific, Europe, the Middle East, and Africa, with over 100 properties in more than 20 countries. The properties include serviced apartments, hotels, and premium rental apartments, offering a range of facilities such as fully furnished units, state-of-the-art home entertainment systems, indoor and outdoor playzones, 24-hour gyms, and swimming pools.

The company continues to expand globally through strategic partnerships and collaborations, including a partnership with YOTEL in Japan and joint ventures in China and Japan. With a commitment to innovation and personalized service offerings, Frasers Hospitality delivers exceptional accommodation experiences tailored to evolving customer expectations. Recent openings include Fraser Suites Al Liwan Bahrain and Modena by Fraser Nansha Guangzhou, with 20 new properties scheduled to open in the next four years.

Industrial and Logistics Spaces

Frasers Property’s strategic expansion into industrial and logistics spaces underscores its commitment to diversification and growth across key markets. This includes the establishment of Frasers Property Industrial, which manages industrial and logistics properties in Australia and Europe, featuring a portfolio of logistics facilities, warehouses, and production facilities in strategic locations. The company also provides property management services to industrial and logistics properties owned by Frasers Logistics & Commercial Trust (FLCT) in Australia, Germany, and the Netherlands.

Frasers Property Thailand develops and manages diversified assets, including industrial and logistics properties, highlighting its significant presence in Southeast Asia. The company’s industrial and logistics operations are designed to support the complex needs of supply chain management, offering integrated solutions that enhance efficiency and scalability. With a strong focus on property management, Frasers Property guarantees that its industrial and logistics spaces meet the evolving demands of businesses, supporting long-term sustainability and growth within the sector. The company’s diverse portfolio and strategic partnerships further its position as a leading developer in industrial and logistics spaces.

Retail and Shopping Malls

Managing a thorough portfolio of retail properties, Frasers Property Singapore has established itself as a leading retail and office owner and operator in Singapore. The company’s retail portfolio comprises 12 shopping malls, including key properties such as Causeway Point, Century Square, Hougang Mall, NEX, Northpoint City, Tampines 1, Tiong Bahru Plaza, Waterway Point, and White Sands. All these malls are strategically located next to or near MRT stations and bus interchanges, ensuring high foot traffic from residents and commuters.

Frasers Centrepoint Trust, which manages most of these malls, focuses on providing pleasant and comfortable shopping experiences through competitive lease rates, continuous upkeep, and enhancement of retail and office properties. This approach aims to make FCT a fair and value-adding landlord, preferred by tenants and stakeholders alike. The emphasis on mall design and shopper experience helps attract consistent visitor numbers, contributing to a robust performance despite global economic challenges. The portfolio has maintained a high average occupancy rate of 95%, underscoring the resilience and strategic growth of Frasers Property Singapore’s retail division.

International Expansion Plans

As a leading retail and office owner and operator in Singapore, the company’s domestic success has laid a solid foundation for its ambitious international expansion plans in the hospitality sector. Frasers Hospitality, a strategic business unit of Frasers Property, is aggressively expanding its presence globally, particularly in North Asia, focusing on the long-stay lodging segment. Recent acquisitions include premium rental apartment assets in Shenzhen, China, and Osaka, Japan, through joint ventures with established real estate players.

The company’s strategic partnerships, such as its collaboration with YOTEL to launch the brand’s first property in Japan, enhance its position in key markets and meet evolving customer expectations. Frasers Hospitality aims to open 20 new properties globally over the next four years, expanding its portfolio in Asia Pacific, Europe, the Middle East, and Africa. By fortifying its international expansion through strategic business partnerships and operational excellence, the company is well-positioned to leverage market trends and navigate the competitive landscape in the hospitality sector. Its focus on innovation and personalized service will be essential in creating enduring value for stakeholders and partners.

Sekisui House

Sekisui House, a prominent Japanese homebuilder founded in 1960, has established a strong reputation for its innovative designs and commitment to sustainable practices. With a diverse portfolio that includes residential construction, real estate sales, and non-residential projects, the company has built over 2.2 million homes. Following significant expansion into international markets in FY 2024, particularly in the U.S. and Australia, Sekisui House continues to drive growth with a focus on zero-energy homes and community development initiatives. The intricacies of its growth strategies and financial dynamics offer a complex narrative worth further exploration.

Founding and Headquarters

Establishing itself as a pioneering force in Japan’s homebuilding industry, Sekisui House’s founding was marked by its affiliation with Sekisui Chemical, a major chemical firm that diversified its operations. Founded on August 1, 1960, Sekisui House began with a mission to provide value through housing to address societal issues, setting it apart with its initial focus on using steel, aluminum, and plastic materials, unlike the standard wood frame homes prevalent at the time.

The company’s founding vision was centered around helping to resolve social issues through housing, a philosophy that guided its early years. This principle laid the groundwork for Sekisui House’s growth into one of Japan’s leading homebuilders.

Sekisui House is headquartered in Osaka, Japan, specifically at 1-1-88, Oyodonaka, Kita-ku, Osaka, 531-0076. This central location serves as the command center for its national and international operations, overseeing activities in Japan as well as its offices in the United States and Australia. The Osaka headquarters plays a pivotal role in coordinating the company’s diverse projects and ensuring its continued influence in the homebuilding industry. The company has become a global leader, having built over 2.66 million homes as of January 31, 2024.

Corporate Structure

Serving as the backbone of Sekisui House’s operations, the corporate structure plays an essential role in supporting its diverse business activities and strategic growth initiatives. At its core, Sekisui House is not the correct focus here, as the following information pertains to SEKISUI CHEMICAL, a company with an Audit and Supervisory Board, emphasizing transparency and timely checks. The board composition includes outside directors and outside audit and supervisory board members, guaranteeing diverse perspectives and robust oversight.

Key aspects of SEKISUI CHEMICAL’s corporate structure include:

• Decision-Making Structure: The company employs an Executive Officer System and a Board of Directors to guarantee clear demarcation of responsibilities and flexible business execution.
• Executive Responsibilities: Executive officers are responsible for the day-to-day operations and business execution, while the Board of Directors determines basic management policies and oversees strategic decisions.
• Operational Framework: The company operates through a Divisional Company Organization System to enhance responsiveness to business changes, which is headed by the top management of each business segment and senior corporate officers with significant experience and strong expertise.

A key feature of this system is the establishment of the Executive Committee as the top decision-making body in each divisional company, where a broad range of authority has been transferred from the Board of Directors to the Executive Committee to ensure swift decision-making and medium to long term growth.

Additionally:

The company operates by maximizing corporate value through various initiatives, but it is important to note the SEKISUI CHEMICAL’s activities and structure differ from that described for a housing company. SEKISUI CHEMICAL’s business includes areas such as chemical solutions, construction materials, and other industrial products, not built-to-order housing or rental housing and commercial buildings.

 

Business Operations

• Customer Lifelong Engagement: Sekisui House views homebuyers as lifelong customers, offering not just initial construction services but also ongoing maintenance, renovations, and rebuilding to foster long-term relationships.
• Sustainable Practices: The company emphasizes sustainable practices through CSR evaluations, adherence to UN Global Compact principles, and the use of precision-manufactured wood components like ShaWood for energy efficiency and resilience.
• Diverse Portfolio: With business segments ranging from architectural and civil engineering services to rental housing management and urban redevelopment, Sekisui House demonstrates a commitment to sustainable growth and community development.

Global Expansion

Setting out on a strategic path of global expansion, Sekisui House is driven by its ambitious goal to supply 10,000 homes overseas by 2025 and 20,000 by 2031. Key markets in this expansion include the United States, Australia, and Singapore, where the company aims to leverage its advanced housing technologies cultivated in Japan to offer high-quality homes tailored to local needs.

To enhance its presence in the U.S., Sekisui House has made significant acquisitions, including Woodside Homes, Chesmar Homes, and M.D.C. Holdings. These strategic moves have not only expanded the company’s operational footprint but also facilitated the transfer of its housing technologies to international markets. The deployment of SHAWOOD products and the implementation of “New 2×4 by Sekisui House” technology are central to this strategy, aiming to offer homes that embody safety, comfort, and design.

This expansion is guided by a commitment to ESG principles, integrating environmental, social, and governance considerations into all operations. By combining technological innovation with a focus on customer engagement and lifestyle design, Sekisui House aims to become a leading global company in housing technologies and ESG management.

Green Building Initiatives

Sekisui House’s green building initiatives are at the forefront of its commitment to sustainability and environmental responsibility. This dedication is evident in the company’s achievements, such as achieving a 93% ZEH (Zero Energy House) ratio for newly built houses as of 2022.

Key components of these initiatives include:

• *High-Performance Insulation and Renewable Energy Integration*: Utilizing high-performance thermal insulation in Green First ZERO homes and incorporating solar panels and fuel cells to achieve net-zero energy status.
• *Energy Efficiency and Eco-Friendly Materials*: Implementing energy-efficient systems and using eco-friendly materials in construction to reduce environmental impact.
• *Zero Waste Goals and Biodiversity Projects*: Promoting zero waste activities across all operations and implementing projects like “Gohon no Ki” to enhance local biodiversity.

Growth and Strategy

• Transfer of Technology: Transferring Sekisui House technologies cultivated in Japan to pursue business development overseas, focusing on markets like the United States and Australia.
• Innovative Homes: Introducing and rolling out innovative homes, such as the SHAWOOD line, and expanding the “New 2×4 by Sekisui House” concept, which combines U.S. construction methods with Sekisui House technologies.
• Sustainability Practices: Enhancing ESG management centered on material issues, with a focus on resolving environmental issues through residences, making employee autonomy a growth driver, and fostering innovation and communication.

Research and Development

Focusing on thorough and innovative housing solutions, extensive research and development efforts are central to the company’s mission to provide high-quality, comfortable, and sustainable living environments. Sekisui House established the Detailed Housing R&D Institute in 1990, a 7,000m2 facility dedicated to developing advanced housing technologies and evaluating housing performance. The institute includes the Nattoku Kobo Studio, where visitors can experience and interact with various housing solutions, fostering a deeper understanding of user-friendly designs.

Key research areas include the development of proprietary technologies such as Airkis and Gururin Dannetsu systems, and exploring housing designs suitable for living with pets and promoting health and wellbeing. The Human Life R&D Institute, established in 2018, specifically focuses on studying the science of happiness in housing, aiming to create homes that enhance residents’ happiness and quality of life.

Sekisui House’s R&D efforts have led to significant achievements, including the construction of over 76,509 zero-energy homes as of March 2023, and informing urban design with research on happiness and healthy living. These efforts underscore the company’s commitment to leveraging innovation to create better living environments.

Market Presence

Building on its extensive research and development efforts, Sekisui House leverages its innovative housing solutions to maintain a strong market presence globally. With operations primarily in the built-to-order housing sector, the company has a significant presence in Japan and overseas, including the United States, Australia, Singapore, and the United Kingdom. The strategic acquisition of MDC Holdings (Richmond American Homes) in the U.S. market has propelled Sekisui House into the top five U.S. homebuilders by volume in 2024.

Key highlights of Sekisui House’s market presence include:

• *Strategic Expansion*: The acquisition of MDC Holdings led to a 155.9% increase in U.S. net sales to $5.67 billion for FY2024, with the order backlog rising to $2.98 billion.
• *Market Segmentation*: Sekisui House emphasizes long-term investment and strategic growth, integrating Japanese construction techniques and operational efficiencies into U.S. operations to target specific market segments.
• *Customer Engagement*: The company focuses on delivering added value to customers through optional contracts and incentive packages, viewing homebuyers as lifelong customers and providing maintenance and renovation services to enhance long-term customer engagement.