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'Resilient' suburban retail malls lift FCT's tenants' sales above pre-Covid levels

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Jude Chan

Jude Chan

Published Wed, Jan 26, 2022 · 08:29 AM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    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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