Frasers Property to acquire a 50% stake in Gold Ridge from Mercatus for S$653m.

Frasers Property, a multi-national company that develops, owns and manages a diverse, integrated portfolio of properties, agreed to acquire a 50% stake in Gold Ridge, an operator of suburban retail mall NEX, from Mercatus, an investor, owner and manager of real estate, for S$653m ($496m). “Retail is one of the five asset classes in Frasers Property’s multinational portfolio. This investment in NEX further strengthens our focus in the suburban retail segment where we already have an established platform and strong capabilities," Soon Su Lin, Frasers Property CEO.