FCT has finally announced a proposal to acquire Changi City Point at $305 Million to inject the abovementioned asset into their existing sub-urban malls portfolio.
I’ve got a feeling that investors have been waiting for this acquisition for some time now, given the recent lacklustre organic growth opportunities especially on their performance for YewTee and Bedok Point in the recent months.
My take on Changi City Point
For those who have not been to Changi City Point, they are a sub-urban malls located in the heart of Changi Business Park and is close proximity to the residential estates of Simei, Bedok, Expo and Tampines area. Strategically, they are well placed on the heart of the more congested sub-urban areas, so crowd will not be an issue. More details on Changi City Point is as follows:
|
Gross Floor Area (sq ft) |
306,375 |
|
Net Lettable Area (sq ft) |
... |
