- Frasers Centrepoint Trust announced a good set of 3QFY25 operational numbers, with all metrics showing sequential improvements.
- Tenant sales are improving too, driven by asset enhancements and government handouts, leaving room for positive rent growth.
- - Read this at SGinvestors.io -
- We believe asset enhancements will be a key growth driver and think risks to its portfolio from the upcoming Johor Bahru- Singapore Rapid Transit System are manageable.
Asset enhancements the next lever for growth.
- Hougang Mall’s asset enhancement initiative (AEI) has commenced, with NLA expected to increase by ~11k sq ft. Frasers Centrepoint Trust plans to tweak the trade mix to increase the F&B proportion to 32% from 26%, and revamp mall entrances and key shopper touchpoints. 74% of the space has already received pre-commitments, and the REIT is on track to achieve ~7% ROI on an estimated S$51m capex. This is likely to be followed by NEX mall’s AEI (now in advanced planning stages).
- - Read this at SGinvestors.io -
Borrowing costs are expected to ease significantly.
- Read more at SGinvestors.io.
