Frasers Centrepoint Trust to buy Changi City Point for S$305m

Changi City Point at Changi Business Park looks set to become the next shopping mall to be acquired by a real estate investment trust.

Frasers Centrepoint Trust (FCT) said on Tuesday it has entered into a conditional sale and purchase agreement to buy Changi City Point from Ascendas Frasers Pte Ltd
for S$305 million.

Ascendas Frasers is a 50-50 joint venture between Ascendas Development and Frasers Centrepoint Ltd, which is FCT’s sponsor.

Changi City Point — a three-storey mall with one basement level — is known for its various factory outlets.

It is located near the Singapore Expo convention and exhibition centre and the Singapore Expo MRT station.

Source : Channel NewsAsia – 8 Apr 2014

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