MCT to boost F&B offerings at VivoCity

Singapore

MAPLETREE Commercial Trust (MCT) is embarking on an asset enhancement initiative (AEI) for VivoCity to strengthen its F&B offerings in a bid to further boost the mall's appeal.

Its Reit manager said this on Wednesday as it maintained its distribution per unit (DPU) for the third quarter ended Dec 31, 2015 (Q3 FY2016) stable at 2.08 Singapore cents. Income available for distribution climbed 1.1 per cent to S$44.25 million.

VivoCity, while seeing a 1.6 per cent year-on-year decline in Q3 shopper traffic, registered a 4 per cent growth in tenant sales to more than S$260 million. The expected capital expenditure for the AEI is about S$6.1 million with expected return on investment on a stabilised basis at over 15 per cent. "The AEI is expected to commence in Q4 FY16 and will complete progressively in H1 FY17," said Sharon Lim, CEO of Ma…