Another office REIT has announced the disposal of a property in the heart of the central business district (CBD), amid what is seen to be the start of a multi-year market upturn.

Frasers Commercial Trust (FCOT) announced on 11 July that it has entered into a property sale agreement to divest 55 Market Street for SGD216.8 million (USD160 million).

The disposal comes in the wake of a similar move recently announced by another office REIT, CapitaLand Commercial Trust, which is divesting Twenty Anson, a property located close to the heart of the CBD.

Read: Analysis: CapitaLand Commercial Trust repositions portfolio amid market upturn

The following is an analysis of three points that have surfaced from this divestment.

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