Frasers Centrepoint Asset Management Ltd., the manager of Frasers Centrepoint Trust (FCT), has announced a successful third quarter for 2025, marked by the acquisition of Northpoint City South Wing. This strategic move, completed with overwhelming unitholder support, aims to unlock value through asset enhancement initiatives (AEIs), tenant mix strategies, and operational efficiencies.
The acquisition has bolstered FCT’s position as a leading owner of prime suburban retail space in Singapore. The trust reported a stable committed occupancy rate of 99.9% and a year-on-year increase in shopper traffic and tenant sales by 2.1% and 4.4%, respectively. These metrics underscore the resilience of FCT’s operational and financial performance amidst a challenging retail environment.
Financially, FCT has improved its cost of debt, which now stands at 3.8%, down from 3.9% in the previous quarter. The aggregate leverage has increased to 42.8% as of 30 June 2025, reflecting the strategic investments made during the period. The average debt maturity has also extended to 3.38 years.
In addition to the acquisition, FCT has commenced AEI at Hougang Mall, targeting a 7% return on investment on a $51 million (local currency) capital expenditure. The project has already secured 74% leasing pre-commitment, introducing new-to-mall concepts and reinforcing the mall’s appeal.
Looking ahead, FCT’s strategic initiatives and robust financial metrics position it well to capitalise on growth opportunities in Singapore’s retail market. The trust’s proactive management and strategic acquisitions are expected to continue driving value for unitholders.
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