Thai Billionaire’s Frasers Property Offers To Take Hotel REIT Private For Second Time In $1 Billion Deal
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May 14, 2025, 04:51am EDTMay 14, 2025, 05:01am EDTShareSave
Frasers Property—controlled by Thai billionaire Charoen Sirivadhanabhakdi—is seeking to take Frasers Hospitality Trust private for a second time in almost three years in a deal valuing the Singapore-listed real estate investment trust at S$1.37 billion ($1 billion).
Under the deal, which is subject to regulatory approvals, Frasers Property is offering to buy the rest of the REIT that it doesn’t own at S$0.71 per share, according to a regulatory filing on Wednesday.
“The decision to propose this scheme was not taken lightly,” Eric Gan, CEO of Frasers Hospitality’s manager, said in a statement. “It reflects our commitment to act in the interests of our stapled securityholders amid structural challenges and an increasingly complex global environment.”
Frasers Property first attempted to take Frasers Hospitality private in June 2022 when it offered S$0.70 apiece but it failed to get enough votes from minority shareholders. About 74.9% of shareholders accepted the previous offer, falling short of the 75% threshold required by regulators.
Since then the macroeconomic situation has worsened amid higher interest rates and foreign exchange volatility, That’s made it more challenging for Frasers Hospitality to boost dividends and the REIT’s net asset value, the company said.
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Frasers Property owns about 24.2% of the REIT, while Charoen’s TCC Group holds 36.7% and minority shareholders own the rest, according to Frasers Hospitality’s latest annual report.
Listed on the Singapore Exchange since July 2014, Frasers Hospitality owns 14 properties with a total of more than 3,400 rooms across eight hotels and six serviced residences in nine major cities in Asia, Australia, and Europe. The S$2 billion property portfolio includes InterContinental Singapore, Novotel Sydney Darling Square, and The Westin Kuala Lumpur.
With an estimated net worth of $11.2 billion based on Forbes’ real-time data, Charoen is among the wealthiest in Thailand. In addition to his controlling stake in Frasers Property, he also has interests in Thai Beverages (maker of Chang Beer), property developer Asset World, and the Big C Supercenter retail chain.
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Manta Corporate Plaza is now EDGE Certified
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Over the years, consumer preference has evolved to include a product’s eco-friendliness and sustainability as part of their criteria. Following this rise in awareness over climate concerns and environmental impact, businesses are making moves to leave a cleaner, greener footprint.
While consumers are concerned with the end product, Manta Equities, Inc. has been taking notes and looking into the benefits that going green can provide in the real estate and development sector. This attentiveness resulted in the now EDGE-certified, 14-floor Manta Corporate Plaza located along Arca Boulevard, Arca South, Taguig City.
EDGE (Excellence in Design for Greater Efficiencies) is a globally recognized green building certification system created by the International Finance Corp. The certification is awarded to developers whose projects pass the assessment of Green Building Certification Inc. and meet their standards for cost-effective design, material reduction, and water and energy consumption.
The Manta Corporate Plaza is a 14-floor development located in the business and lifestyle district of Arca South, Taguig City. As per the EDGE assessment, its resource-efficient design guarantees savings of an estimated 20% on energy and 48% on water. While this is an achievement in and of itself for Manta Equities Inc., businesses looking to lease office or commercial units will be direct beneficiaries of these savings as well.
Adding to the environmental initiative, Manta Corporate Plaza has its own Electric Vehicle (EV) charging station in the first of five basement parking areas. That aside, it hosts 2 floors for retail and 12 for office space, PWD-friendly access points, event and function rooms with a fully-equipped kitchen on the Penthouse level, as well as a landscaped and furnished roof deck with gondolas for al fresco dining.
Retail units on the ground and second floor range from 87 – 222 sq.m and 216 – 372 sq.m respectively, while the remaining floors offer office units of 215 – 377 sq.m, half floor 900 – 1000 sq.m, and whole floor 1,869 – 1,928 sq.m.
For inquiries about Manta Corporate Plaza, you may get in touch with our landlord team:
Monica Gonzalez | 09171321798
Monica.Gonzalez@Santos.KnightFrank.ph
For retail spaces:
Leah Osayta | 09178753481
Leah.Osayta@Santos.KnightFrank.ph
For office spaces:
Glenda Purino | 09178889226
Glenda.Purino@Santos.KnightFrank.ph
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About Santos Knight Frank
The world of real estate can be a difficult place to navigate. Whether property is your investment or a tool that drives your business success, you need a partner who can guide you in every step of the way.
Since 1994, Santos Knight Frank has been guiding Fortune 1000 companies, BPOs, private clients, and institutions in all facets of real estate. We advise companies on their best office, retail, and industrial location, oversee commercial fit-out projects, and manage facilities. We have facilitated over 4 million sqm of office transactions on behalf of clients and managed over 40 million sqm of real estate under our property & facilities management arm.
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We are locally expert and globally connected, end-to-end and best-in-class – as any great partner in property should be.
