Frasers Centrepoint Trust (FCT) (FCRT.SI) said on Friday it will purchase a mall in eastern Singapore from parent Fraser & Neave (FRNM.SI) for $127 million.
“Bedok Point will be the fifth mall in our Singapore portfolio and this acquisition will reinforce FCT’s position as a pure-play suburban retail mall Singapore REIT,” FCT CEO Chew Tuan Chiong said in a statement.
“Bedok Point will be the fifth mall in our Singapore portfolio and this acquisition will reinforce FCT’s position as a pure-play suburban retail mall Singapore REIT,” FCT CEO Chew Tuan Chiong said in a statement.
With this acquisition, the asset size of FCT is expected to grow to $1.66 billion from $1.53 billion, the company said in a statement.
FCT is managed by a unit of F&N.
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