CapitaLand Mall Trust property, Funan. (Photo: REITsWeek)CapitaLand Trust property, Funan. (Photo: REITsWeek)

Amid news that the redeveloped Funan mall will open for business earlier than expected, doubts have emerged over a major tenant who has pre-committed to a significant portion of floor space at the property.

CapitaLand Mall Trust (CMT), which owns Funan, announced in late-September 2018 that the property’s retail and office components are now slated to open in 2Q 2019, instead of the earlier announced 3Q 2019.

The REIT also revealed then that leasing for Funan’s retail, and office components have reached 70%, and 60% respectively.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.