BUOU.SI
SGX50SESFrasers Logistics & Commercial Trust
Real Estate · REIT - Industrial · Singapore
Frasers Logistics & Commercial Trust is a Singapore-listed real estate investment trust. With a portfolio comprising 113 industrial and commercial properties, worth approximately S7.0 billion dollars as at 31 March 2026, diversified across five major developed markets Australia, Germany, Singapore, the United Kingdom and the Netherlands. FLCT was listed on the Mainboard of Singapore Exchange Securities Trading Limited (SGX-ST) on 20 June 2016 as Frasers Logistics & Industrial Trust and was subsequently renamed Frasers Logistics & Commercial Trust on 29 April 2020 following the completion of a merger with Frasers Commercial Trust. FLCT's investment strategy is to invest globally in a diversified portfolio of income-producing properties used predominantly for logistics or industrial purposes located globally, or commercial purposes (comprising primarily CBD office space) or business park purposes (comprising primarily non-CBD office space and/or research and development space) located in the Asia-Pacific region or in Europe (including the United Kingdom). FLCT is sponsored by Frasers Property Limited. FLCT is a constituent of the FTSE EPRA Nareit Global Real Estate Index Series (Global Developed Index), Straits Times Index and Global Property Research (GPR) 250. Frasers Logistics & Commercial Trust was established on November 30, 2015 and incorporated in Singapore.
www.frasersproperty.com/reits/flct ↗Shares trade at a moderate 16.1× trailing earnings, easing to 17.7× on forward estimates. Profitability shows a net margin of 44.5% and return on equity of 5.2%. Leverage is high at 7.8× net debt/EBITDA. Revenue grew 2.8% year-on-year. It yields 6.2% in dividends. The mean analyst target of SGD1.07 sits 10.7% above the current price (no rating, 12 analysts).
business model
Frasers Logistics & Commercial Trust is a Singapore-listed REIT that owns and leases logistics/industrial and commercial (office and business park) properties, earning rental income from long leases. As at 30 September 2025 its portfolio comprised 113 properties valued at about S$6.9 billion across five developed markets. It is managed by a Frasers Property subsidiary, with income growth driven by rental escalations, reversions and acquisitions.
revenue segments
Revenue is split between logistics and industrial assets (roughly 75% of portfolio value) and commercial/office assets (the remainder), with logistics/industrial the growth focus. Geographically the properties sit in Australia, Germany, Singapore, the United Kingdom and the Netherlands. The logistics/industrial book runs at near-full occupancy while the commercial book (e.g. Alexandra Technopark, business parks) carries higher vacancy.
key dependencies
It depends on tenant demand and rental reversions in logistics/industrial markets, sponsor Frasers Property for asset pipeline and development, and financing conditions given exposure to floating rates and multiple currencies. Occupancy and rent growth in Australia, Europe and the UK, plus currency translation into Singapore dollars, materially affect distributions.
competitors
Competes for capital and assets with other industrial and diversified Singapore REITs such as CapitaLand Ascendas REIT, Mapletree Logistics Trust, Mapletree Industrial Trust, ESR-REIT and Mapletree Pan Asia Commercial Trust. In physical property markets it competes with global logistics landlords like Prologis, GLP and ESR for tenants and acquisitions.
moat
Its edge is a large, geographically diversified portfolio concentrated in high-demand logistics/industrial assets in developed markets, low gearing relative to peers, and a supportive sponsor (Frasers Property) providing an acquisition pipeline and development capability. Long weighted-average lease expiry and built-in rent escalations give income visibility.
risks
Key risks include weaker office demand and vacancy in the commercial portfolio, rising interest costs, foreign-exchange volatility across AUD, EUR and GBP, and softening logistics rents if supply outpaces demand. Asset revaluations, refinancing risk and reliance on continued sponsor support also affect returns.
Financials & metrics
as of 04 Jul 2026Tap any metric for an explanation.● provider● computedN/A not available from source
Dividends
This company does not currently pay a dividend.
Analyst assessment
as of 04 Jul 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 03 Jul 2026News
No recent news available from the data source for this stock.