Frasers Centrepoint rolls out name change for SG market

Frasers Centrepoint has changed its name to Frasers Property, in a bid to showcase the consolidation of its businesses into one global property brand.According to Panote Sirivadhanabhakdi, group CEO of Frasers Property, the name change comes as the majority of Fraser’s portfolio extends beyond Singapore with a balanced mix of asset classes. This was primarily in recurring income property segments. Before, the majority of the company’s portfolio was in Singapore with significant exposure to development assets. Since then, Sirivadhanabhakdi added that the company has “more than doubled” its assets over the past five years.The name change will apply to all the company’s development businesses, retail businesses, commercial and business park businesses. It will also encompass logistics and industrial businesses in every market it operates in.Prior to the announcement, the organisation had been operating as “Frasers Property” out of Singapore since 2006. This includes markets such as Australia, Vietnam, Thailand, China and the United Kingdom.To lead the name change project, the organisation appointed a senior marketer from its Australian operations to lead the project, working with its in-house Singapore-based corporate communications team. It also appointed Brand Union Singapore (now re-named Superunion) as its strategic branding consultancy.During the process, Superunion introduced Frasers Property to its research collaborator, Lightspeed, which worked with the company on benchmarking its brand awareness and perceptions in the discovery phase of the project. The digital partner for the project was Aleph, working within the Sitecore content management framework, in collaboration with its in-house IT team. Meanwhile, Maxus managed Frasers' media buy for the launch campaign in Singapore.The name change was also revealed through the use of full page press ads in the major metro newspapers in Singapore, coupled with a digital campaign running in property and news media throughout February. In a statement, Frasers' Property added that its message will "naturally be amplified within our own assets". This is across digital screens in its retail malls. For example, it published a reportage-style photographic magazine, Moments, which documents the real people and places of its diverse, multi-national group.Overall, the rebranding project has two phases, the first being the announcement of its listed name change in February, which is focused on external communication within Singapore followed by an internal launch of its brand strategy to staff. The second phase involves a carefully curated sequence of weekly communications to all staff within its global group, and celebratory events in Singapore and Australia."Our real focus is on living our brand. How we behave, the decisions we make, and the properties and services we deliver tell a more powerful story about our brand, than any advertising campaign can achieve," the press statement added.Sirivadhanabhakdi explained that the move is a “natural evolution” for the growing company, and “underscores [its] identity as one powerful entity”. The change also brings all employees under a shared and authentic corporate culture, and aims to enhances Frasers Property's employer brand. This is to enable it to attract and retain the best talent.“Besides streamlining our portfolio, this name change provides greater clarity and unifies our collective brand equity, reinforcing Frasers Property's stature as a diverse, multi-national business with great ambitions,” Sirivadhanabhakdi added.As of 30 September 2017, the group has assets amounting to approximately SG$27.0 billion, up from approximately SG$10.7 billion as at 30 September 2012, which translates to a five-year compounded annual growth rate of around 21% per annum.The composition of the Group's portfolio has also changed over this period. The Group’s assets outside Singapore now account for around 55% of its portfolio compared to around 34% previously, and assets that generate recurring income now account for around 82% of its property portfolio compared to around 46% previously.In 2014, the group established Australia as a second core market following the acquisition of Australand Property Group. In 2017, Frasers Property also acquired a 99.45% stake in Netherlands-headquartered Geneba Properties N.V. and a 40.95% stake in Thailand-headquartered TICON Industrial Connection Public Company.It also acquired stakes in four business parks in the UK. More recently, the Group also acquired a fifth business park in the UK by way of a 50:50 joint venture with Frasers Commercial Trust, and six cross-dock facilities in Germany.“We believe that our customers' experiences matter and we are committed to creating memorable and enriching experiences for them. Our experience also matters; and as a diverse, multi-national business of scale, we bring the right expertise and value to the table,” Sirivadhanabhakdi added.