First Sponsor Group Limited released its voluntary interim update on Apr, 27 2026, highlighting slow sales at largely completed mainland China residential projects amid weak market sentiment, but stable contributions from its overseas investments and fresh expansion in the Netherlands.

The developer-investor reported net operating income of €7.8 million from its European property portfolio in 1Q2026, matching the year-earlier period. Dutch office assets generated €6.0 million, up 1.0 percent on 1Q2025, while hotel operations contributed €1.7 million, 6.8 percent lower year on year as softer results at the Dutch Bilderberg hotels offset gains from the newly refurbished Le Méridien Frankfurt and the Puccini Hotel Milan, which opened on Jan, 30 2026.

In property development, construction of the 27,890-square-metre Drive Tower office block in Amsterdam is scheduled for completion by Jun, 30 2026, with the adjacent 312-unit Live Tower expected in 4Q2026. Redevelopment of the PHK16-19 project, comprising 3,245 square metres of offices and five residential units, is on track for 3Q2026, while the 50,000-square-metre mixed-use Meerparc scheme is slated to start construction in late 2027.

On Apr, 8 2026 the group led a consortium to acquire the 207-room Crowne Plaza Amsterdam South hotel for €58.1 million; First Sponsor holds a 33 percent stake in the perpetual-leasehold asset, which is let until Dec, 31 2043.

Property financing revenue declined 28.4 percent year on year to 6.9 million Singapore dollars due to a reduced People’s Republic of China loan book, now standing at RMB12.0 million after the full recovery of a previously defaulted loan.

With substantial unutilised committed credit facilities and active foreign-exchange hedging in place, First Sponsor said it remains financially positioned to weather macroeconomic headwinds and to pursue additional debt and equity opportunities.