Frasers Property (SGX:TQ5) has completed the optimization of its hospitality assets under the privatized Frasers Hospitality Trust, according to a Wednesday filing with the Singapore Exchange.
As part of the reorganization, the property developer completed the acquisition of the entire remaining leasehold interest in Fraser Suites Singapore through its subsidiaries.
Frasers Property originally proposed the optimization of its portfolio in June, involving about SG$2.1 billion worth of assets, in a bid to recalibrate the property developer's hospitality portfolio, among others.
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