Frasers Centrepoint Trust posts 99.6% occupancy for Q3
[SINGAPORE] Committed occupancy in the retail portfolio of Frasers Centrepoint Trust (FCT) reached 99.6 per cent in the third quarter ended Jun 30, 2026, its manager posted on Monday (Jul 27).
This was a 0.2 percentage point decrease quarter on quarter, and a 0.3 percentage point decrease year on year.
The Q3 2026 figure excludes Hougang Mall and Nex due to ongoing asset enhancement initiatives.
Shopper traffic across its retail portfolio for the quarter rose 2.4 per cent year on year. Tenants’ sales also edged up 0.2 per cent year on year during the quarter.
The manager reported a “healthy financial position with lower cost of debt”, with FCT’s average cost of debt for Q3 easing to 3 per cent per annum from 3.2 per cent in Q2, following the expiry of interest rate swaps.
Aggregate leverage stood at 40.4 per cent as at Jun 30, 2026, compared to 40 per cent the previous quarter. Interest coverage ratio remained healthy at 3.66 times, with 65.7 per cent of debt hedged to fixed interest rates and 100 per cent under green loans.
During the period, FCT announced the proposed divestment of White Sands for an agreed property value of S$467 million.
The sale is expected to generate net proceeds of approximately S$454.1 million and net gains of S$32.4 million.
FCT said it expects the deal to create debt headroom.
Additionally, FCT formed a joint venture (50 per cent stake) with Sunway-MCL (30 per cent) and Sekisui House (20 per cent) to submit a S$2.1 billion bid for a mixed-use government land sales site at Bayshore Drive.
This “harnesses development as a new growth driver at an attractive yield and creates (a) pipeline for future acquisition,” FCT said.
The local suburban retail market is expected to stay “well-supported”, given the new supply of space and demand drivers from population and income growth, the manager added.
Units of Frasers Centrepoint Trust closed S$0.01 or 0.4 per cent lower at S$2.26 on Monday, before the business updates were announced.
