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FCT also plans to raise $1.3b via an equity fundraising.
Frasers Centrepoint Trust has acquired the remaining 63.1% of total issued share capital of AsiaRetail Fund (ARF) for approximately $1.06b from a subsidiary of Frasers Property Limited, according to an announcement.
Upon completion of the transactions, FCT’s retail properties in its portfolio will increase from seven to 118, and its net lettable area will expand by about 64% to 2.3 million sqft. This will make FCT amonst the largest suburban retail mall owners in Singapore, the REIT said.
FCT’s portfolio size will also increase to approximately $6.65b.
Freshest Property News from Singapore
- Demand for HDB resale flats remains strong in August: SRX
- Jefferies upgrades Mapletree Commercial Trust, Suntec Reit to 'buy'
- Frasers Centrepoint Trust to raise up to S$1.39b to buy rest of AsiaRetail Fund
- Chart of the Day: HDB TOX hits positive $3,000 in August
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Previous news selection
HDB resale prices up 2.1% in August
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About Agent.sg Daily Property News Selection
Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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