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Frasers Centrepoint Trust Achieves 99.7% Portfolio Occupancy in Q3

Singapore Business Review ·  Jul 25 00:52

All of FCT's malls each achieved over 99% occupancy.

Frasers Centrepoint Trust (FCT) reports a portfolio occupancy of 99.7% in Q3 2024, achieving more than 99% occupancy at every retail mall.

Portfolio shopper traffic and tenant sales for the period rose 4.1% and 0.7% year-on-year (YoY), respectively.

Tampines 1 achieved 100% occupancy after FCT's asset enhancement initiative (AEI), which is set to be completed by September and is projected to exceed its ROI target by 8%.

In addition, suburban prime retail rents during the period increased 0.3% quarter-on-quarter (QoQ) and 2.6% YoY. The dip in new retail supply supported the recovery of overall prime retail rents.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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