First Sponsor leans on European growth as China property sales stay slow

First Sponsor Group Ltd ( (SG:ADN) ) has shared an update.

First Sponsor Group reported that sales at its largely completed property development projects in the PRC remained sluggish in the first quarter of 2026, reflecting weak market sentiment, but said its strong financial position allows it to take a long-term view and hold back from aggressive discounting. The group’s development pipeline outside China advanced, with major projects in Amsterdam and Sydney progressing on schedule, including the PHK16-19 and Drive/Live Tower redevelopments and the Sydney House high-rise, which together are expected to support future earnings.

The group’s European property portfolio generated stable net operating income of €7.8 million in the quarter, as improved office performance offset softer hotel trading, and recurring income is expected to rise with new hotel and office assets coming onstream in 2026. First Sponsor also expanded its European hospitality footprint by leading a consortium to acquire a 33% stake in the 207-room Crowne Plaza Amsterdam South for €58.1 million, and highlighted that its foreign-exchange hedging strategy and ample committed credit facilities leave it well positioned to manage volatility while remaining ready to tap capital markets and pursue opportunistic deals.

More about First Sponsor Group Ltd

First Sponsor Group Ltd is a Singapore-listed property group with diversified operations in property development, property holding and property financing. The company has a significant exposure to the People’s Republic of China but its asset base is increasingly concentrated in Europe and Australia, with a portfolio spanning offices, hotels and residential projects in cities such as Amsterdam, Milan and Sydney.

Average Trading Volume: 9,860

Technical Sentiment Signal: Strong Sell

Current Market Cap: S$1.15B

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