FKP Property Group yesterday became the latest listed real estate company to tap investors for cash, moving to raise about A$300m -- almost half the money needed to repay the debts it has due in the next two months.

The Brisbane-based company's raising is tipped to be closely followed by a similar effort from Goodman Group, which needs about A$1.5bn to pay debts due by 2011.

FKP, 23% owned by Malaysian-based conglomerate Mulpha, has A$603m worth of loans to roll over in June and July, and A$837m due this calendar year.

FKP 15% stake holder Stockland would not comment on whether it would take part in the equity raising.

The Australian