Frasers Centrepoint Trust's proposed acquisition of AsiaRetail Fund comes as suburban malls show resilience

Singapore

FRASERS Centrepoint Trust's (FCT) proposed acquisition of the rest of AsiaRetail Fund (ARF) will boost the real estate investment trust (Reit)'s suburban portfolio even as suburban malls are expected to recover more strongly from the negative impact of Covid-19 than their centrally located peers.

On Sept 3, the Reit had announced a plan to buy the remaining 63.1 per cent stake in ARF for S$1.06 billion. The seller is its sponsor, Frasers Property.