Frasers Centrepoint Trust (FCT) has agreed to sell White Sands, a suburban retail mall in Singapore, for S$467m. The transaction, expected to complete by 30 September 2026, is part of FCT’s strategy to recycle capital and strengthen its financial position by reducing its aggregate leverage from 40% to 36.5%.
The sale price represents an 8.4% premium over the mall’s independent valuation of S$431m as of 31 May 2026. The net proceeds, estimated at S$454.1m, will primarily be used to repay debt, creating additional financial headroom for future investments.
Richard Ng, CEO of Frasers Centrepoint Asset Management Ltd., stated, “The divestment is part of our proactive portfolio management strategy to strengthen FCT’s portfolio resilience and unlock value for unitholders.”
White Sands, located in Pasir Ris and adjacent to key transport links, comprises five storeys and three basement levels, with a net lettable area of approximately 150,352 square feet. It houses 132 tenants, with major sectors including food and beverage, beauty and healthcare, and sundry services.
Post-divestment, FCT’s retail portfolio will consist of eight properties across Singapore, with a total net lettable area of about 2.84 million square feet. This move aligns with FCT’s long-term growth strategy, focusing on optimising its portfolio to deliver sustainable income and value to its unitholders.
