- Gross revenue and net property income increased 3.6% and 2.7% year-on-year to S$369.7 million and S$265.6 million respectively in 2023 because of higher gross rental and atrium income.Shopper traffic rebounded strongly in 2023. Distribution per unit (DPU) was affected by higher interest expenses on the back of the rising interest rate environment. It dropped marginally from 12.227 cents in 2022 to 12.150 cents in 2023. Nonetheless, DPU
Listed in Singapore since 2006, Frasers Centrepoint Trust (FCT) owns prime suburban retail malls and an office building in Singapore. FCT’s malls are mainly located at the heart of the respective town centres and in strategic locations with direct connectivity to public transport and residential areas. It is among the top 10 largest REITs in the country by market capitalisation.
With assets under management totalling S$6.5 billion, FCT’s portfolio caters to nearly 3 million residents in catchment areas and commuter traffic, encompassing roughly half of the country’s total population.
Here are 10 things I learned from the 2024 FCT AGM.
