Frasers Centrepoint Trust is acquiring new malls (Tiong Bahru Plaza, White Sands, Hougang Mall, Century Square and Tampines 1) to its portfolio. On 3rd September 2020, Frasers Centrepoint Trust (“FCT”) announced the proposed acquisition of the remaining approximately 63.1% of the total issued share capital of Asia Retail Fund Limited (“ARF”) for approximately S$1,057.4 million from a wholly-owned subsidiary of Frasers Property Limited, the sponsor of FCT.
Acquisitions
Currently, there are 7 malls under Frasers Centrepoint Trust. They are Causeway Point, Northpoint City, Waterway Point, Changi City Point, Yew Tee Point, Anchorpoint and Bedok Point. After the acquisition, the number of malls will be increased to 11. The additional malls are Tiong Bahru Plaza, White Sands, Hougang Mall, Century Square and Tampines 1. There is also one office property Central Plaza that will be part of the acquisition.
Divestments
This is good news for existing Frasers Centrepoint Trust holders. The manager is seeking to divest Bedok Point for a sale price of S$108.0 million....