See: Frasers Property FY21 earnings up 343% to $833.1 mil on revaluation gains
Details of the land and the identity of the joint venture partners were not disclosed, as the proposed investment is by way of a tender and details are currently confidential due to the commercial sensitivities of the tender process.
If the investment materialises, the parties will enter into a joint venture in relation to a project company to own and develop the land. SHX will acquire an indirect of up to 40% in the joint venture.
Based on pro forma financial statements for the FY2021 ended September, the proposed investment results in a decrease in Fraser Property's earnings per share from 22.6 cents to 22.2 cents.
See also: Frasers Property in real estate JV with Morgan Stanley
Scroll to continue
Shares in Frasers Property closed at $1.18 on Nov 25.
