FCT eyes relaxed Covid restrictions to bring shoppers back as retail rental reversion dips

Singapore

WITH over a quarter of leases at its portfolio of retail malls due for renewal in the new financial year, Frasers Centrepoint Trust (FCT) is looking forward to improved leasing sentiment with a ''sustainable reopening'' of Singapore businesses.

For FY2021 ended September, FCT saw its retail rental reversion fall to negative 0.6 per cent. The average portfolio rental reversion for FY2020 was 4.2 per cent, as a substantial portion of the renewals were completed in the first half of last year, prior to Singapore's Covid-19 circuit breaker.