No injection of PGIM malls for now: Frasers Property
Frasers Property and Frasers Centrepoint Trust now own nearly three quarters of PGIM Real Estate Asia Retail Fund but remains tight-lipped on its plans
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ANALYSTS' hope of a quick injection of five suburban malls - Tiong Bahru Plaza, White Sands, Hougang Mall, Century Square and Tampines 1 - into Frasers Centrepoint Trust (FCT), after the Reit and its sponsor, Frasers Property, spent more than S$1.3 billion to chalk up a three-quarter stake in PGIM Real Estate Asia Retail Fund, may not pan out so soon.
A Frasers Property spokesperson, in response to queries from The Business Times, has said that the group has no plans to access the suburban mall assets for now.
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