FCT eyes retail malls held by third parties

Singapore

FRASERS Centrepoint Trust (FCT) is eyeing retail malls held by third parties even as it waits for some assets held by its sponsor to be stabilised for acquisition.

"While we are waiting for pipeline assets to be ready, we are looking at third-party assets - some big, some smallish," said Chew Tuan Chiong, CEO of the Reit manager. "A good suburban mall valued at 5 per cent cap rate, I think, will be very attractive to many of the Reits."