frasers centrepoint trust

Suntec City Mall's Q3 rental reversion stands at 8.6%, moderating from 21.6% in the preceding quarter.
REIT WATCH

Q3 reporting season kicks off with growth in S-Reits’ distributions

[SINGAPORE] The latest earnings season for Singapore-listed real estate investment trusts (S-Reits) has commenced, with seven trusts reporting their latest financial results or business updates over t...

FCT's manager attributes its higher H2 revenue to contributions from Northpoint City South Wing.

Frasers Centrepoint Trust’s H2 DPU rises to S$0.06059

Distribution to unitholders grows 12.5% to S$123.1 million

The acquisition of Northpoint City South Wing offers organic growth through potential asset enhancement initiatives and cost-savings over time, says the manager.

Frasers Centrepoint Trust retail portfolio occupancy hits 99.9% in Q3

The trust has also completed equity fundraising of S$421.3 million, and issued S$200 million of perpetual securities

Cathay Cineplexes shuttered its outlet (above) in Jem shopping mall in Jurong East on Mar 27. Closure looms for the 85-year-old cinema chain as it struggles to pay up millions in arrears to landlords.

A timeline of Cathay Cineplexes as struggling cinema chain faces closure

Originally known as Cathay Cinema, the company is one of Singapore’s oldest cinema chains, and its origins predate WWII

Renewing the management contract offers economies of scale and continuity as FCT also manages the adjoining North Wing of the mall.

FCT extends Northpoint City South Wing management by a year

The automatic renewal follows the March acquisition of the mall’s South Wing

In January, landlords of its outlets in Century Square (above) and Causeway Point issued letters of demand seeking outstanding payments for monies owed.

Cathay Cineplexes gets S$3.4 million payment demand from landlord of shuttered Jem outlet

Lendlease Global Commercial Reit is seeking arrears in connection to the cinema chain’s use of the mall’s premises, which are to be paid by Jul 22

Net proceeds from the issuance will be used for new investments, distributions, financing any asset enhancement works, and refinancing any existing borrowings of Frasers Centrepoint Trust.

Frasers Centrepoint Trust prices S$200 million perpetual securities at 3.98%

The securities will be issued in denominations of S$250,000 each

Rents in prime malls along Orchard Road remain supported by the limited availability of space in the shopping district.

Singapore retail vacancy creeping up with more tenants looking to exit

Tenant churn expected to increase as retailers face ongoing cost pressures