Frasers Property Diversified Growth
Contracts on hand underpin Australia residential portfolio future earnings
Well-positioned for opportunities amid favourable long-term market dynamics
•
Positive sales performance with units sold higher than units released
•
Strong volume of contracts on hand underpinning future earnings
•
761 units 1,3 released for sale in FY23
Continued active management of sales and settlements amid high interest
rate and inflationary environment
Continue to leverage capital partnerships for capital-effective growth
Expanded capital partnership with Mitsui Fudosan with establishment of a
second joint venture at the Midtown project in NSW in 4Q FY23
Strong local platform enables capturing of strategic opportunities to
replenish land bank
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Entered into a structured and conditional agreement on 23 October 2023 to
acquire an undeveloped site at Mambourin in VIC6
Macro Drivers and Industry Trends
$
Australian unemployment rate remained low and
stable at 3.6% for September 2023
Reserve Bank of Australia's 3 October 20238 meeting
held the cash rate at 4.1%, reflecting a consistent rate
since 7 June 2023
Net overseas migration (NOM) targets have increased,
with NOM forecast to reach over 400,000 in 2022-
2023 and 315,000 in 2023-2024, underpinning
demand for Australian residential housing⁹
Residential Portfolio Activity in FY23
1,5174
Units settled¹
8185
Units sold 1,2
S$0.7 b
Unrecognised revenue 1,2
1,292 contracts on hand 1,2 as at 30 Sep 2023
Baldivis Parks, WA, Australia
NB: All references to units include apartments, houses and land lots. 1. Includes subsidiaries at gross (100%) and equity-accounted JVs and associates, and JOs at their effective share. 2. Includes options signed. 3. Gross - 928 units..
4. Gross 1,839 units. 5. Gross - 1,026 units. 6. Undeveloped land parcels known as Lots 3 and 4 at 440 Black Forest Road and 323 Greens Road, Mambourin Victoria, within the Windermere estate.
abs.gov.au/statistics/labour/employment-and-unemployment/labour-force-australia/latest-release. 8. rba.gov.au/media-releases/2023/mr-23-25.html. 9. budget.gov.au/content/bp1/download/bp1_2023-24.pdf.
7.
We are Frasers Property
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