'Resilient' suburban retail malls lift FCT's tenants' sales above pre-Covid levels
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EVOLVING shopping trends amid the pandemic has lifted sales by tenants at Frasers Centrepoint Trust's (FCT) J69U portfolio of suburban retail malls to above pre-Covid levels in its first quarter ended December.
Portfolio tenants' sales rose 2 percentage points to draw level with pre-Covid levels in October 2021, before edging 1 per cent higher in November. With the relaxation of Covid-19 measures in Singapore in December, tenants' sales rose 6 per cent above 2019 levels.
However, as at December 2021, shopper traffic at its malls were still just two-thirds of pre-Covid levels.
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