Investment trusts are losing their attraction as good defensive options for investors in the current turbulent markets. As lending from banks begins to dry up, these trusts are facing refinancing difficulties. Analysts said their once attractive yields no longer seem as enticing, and real estate investment trusts (REITs) are no exception. REITs that have the backing of sponsors such as Mapletree and City...
Frasers Centrepoint Trust
Frasers Centrepoint Trust said its third quarter distributable income came to S$12.2 million, up 19% on year. Third quarter gross revenue grew 10% to S$20.8 million while net property income increased 12% to S$14.1 million. This was driven by strong rental renewals at its Causeway Point and Anchorpoint malls. Causeway Point renewed rentals at 17% above previous rates in the third quarter. Anchorpoint's...
Frasers Centrepoint Trust has put in the top bid of nearly S$88 million for a residential site at Woodleigh Close. The price works out to S$270 per square foot per plot ratio. The next highest bid came from Hoi Hup Realty at about S$83 million. The lowest bid of S$74 million was put in by Sim Lian Land. The Urban Redevelopment Authority received six bids in total when the tender closed on Tuesday. The...
Following the S$13 million makeover of Anchorpoint Shopping Centre, Frasers Centrepoint Trust has plans to turn its attention to other suburban malls under its stable. Anchorpoint's new look appears to be getting the thumbs up from retailers. Lee Hsien Yang, chairman of Fraser & Neave, said: "Anchorpoint used to be occupied by furniture shops, but I think we felt there was a niche in the market for...