$FRASERS CENTREPOINT TRUST(J69U.SI)$FCT (J69U): Frasers Centrepoint Trust, one of the larger retail REITs, has reported that tenants’ sales for its 3QFY2022 ended June has increased by 23% over the same quarter last year. On average, the sales have even reached a level 10% higher than pre-pandemic levels on average.
Shopper traffic, meanwhile, was up 32% y-o-y for the same quarter, and was around 79% pre-pandemic levels, says FCT in its 3Q quarterly business update.
FCT owns a $6.1 billion portfolio of nine malls with a total net lettable area of 2.3 million square feet, such as Causeway Point and Waterway Point.
Overall, the REIT’s retail portfolio was 97.1% occupied for 3QFY2022, slightly lower from the last quarter.
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