Frasers Centrepoint Trust’s H1 Net Property Income Climbs 5.7%, DPU Flat
April 26, 2023 – Frasers Centrepoint Trust (FCT)’s net property income climbed 5.7% to S$137 million in the six months to March 31, 2023.
“Despite the headwinds from rising interest rates and operating costs, we saw good traction in lease renewals and signing of new tenants amidst improved retailer sentiments and healthy consumer spending. We also see an increasing trend of consumers prioritising their spending on essential goods and services, which bodes well for FCT’s retail portfolio,” said Richard Ng, the CEO of Frasers Centrepoint Asset Management, in a statement. The REIT will pay a distribution of 6.130 Singapore cents per unit, unchanged from the same period last year.