Frasers Centrepoint Trust (FCT) is part of the consortium that placed the top bid for the Bayshore Drive site, a large mixed-use plot in Singapore’s east. The headlines talk about the 1,280 new condos. I hold FCT as one of my larger positions, so I care about a smaller part of the story: the retail mall. Below are my thoughts.
Key takeaway
FCT is taking a retail-only share of the deal, to help build the single mall of a new government-planned town centre that sits on an MRT station and bus interchange. It is a change of style for the trust, the exact size and cost are not out yet, and the logic looks sound to me.
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