$FRASERS CENTREPOINT TRUST(J69U.SI)$Frasers Centrepoint Trust, or FCT, is a pure-play Singapore suburban retailREITwith a portfolio of nine malls.
The malls are well-connected to MRT stations and enjoy high recurring shopper traffic as they serve mainly heartlanders living in HDB estates.
More than half of FCT’s gross rental income (GRI) is tagged to essential services, which are more resilient during a downturn.
Shopper traffic hit 73% of pre-COVID levels in April, but tenant sales have exceeded the pre-pandemic levels by 12%.
This statistic shows that people are spending more per trip and bodes well for the REIT.
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