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CMT to fork out S$560m for Funan redevelopment

Trust's DPU for Q2 inches up 1.1 per cent to 2.74 cents

Published Fri, Jul 22, 2016 · 09:50 PM

Singapore

RETAIL landlord CapitaLand Mall Trust (CMT) plans to spend an estimated S$560 million to turn Funan DigitaLife Mall into an integrated development consisting of retail, office and serviced apartments, the trust manager said on Friday morning as it announced a slight rise in distribution for its second quarter.

That amount also includes the cost of installing new technology and other initiatives aimed at differentiating the mall from others in Singapore, the trust manager's chief executive officer (CEO) Wilson Tan told a results briefing held at Capital Tower.

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