Century Square, a property that will come fully under the ambit of Frasers Centrepoint Trust with its acquisition of the remaining stake in ARF. (Photo: Frasers Centrepoint Trust)

Frasers Centrepoint Trust (FCT) has responded to questions over a notable rise in vacancy at one of its assets, which has dipped the REIT’s overall portfolio occupancy.

The REIT recently provided an update of its business conditions in 3Q 2022, which indicate that its tenants’ sales for the period had risen by 23% year-on-year.

Shopper traffic was also up 32% year-on-year and approaching 80% of pre-COVID levels.

FCT is a Singapore-focused REIT with a portfolio of one office asset and nine retail malls across the country.

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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.