No injection of PGIM malls for now: Frasers Property

Singapore

ANALYSTS' hope of a quick injection of five suburban malls - Tiong Bahru Plaza, White Sands, Hougang Mall, Century Square and Tampines 1 - into Frasers Centrepoint Trust (FCT), after the Reit and its sponsor, Frasers Property, spent more than S$1.3 billion to chalk up a three-quarter stake in PGIM Real Estate Asia Retail Fund, may not pan out so soon.

A Frasers Property spokesperson, in response to queries from The Business Times, has said that the group has no plans to access the suburban mall assets for now.

"This is a discretionary fund where the portfolio manager (PGIM Real Estate) i…