Logo from FCT

FCT to acquire 10% additional stake at Waterway Point for $73.6m

Post-acquisition, FCT will own 50% of the retail mall.

Frasers Centrepoint Trust (FCT) will acquire an additional 10% stake at Waterway Point for a purchase consideration of $73.6m.

The acquisition was made through a purchase agreement between FCT’s trustee, HSBC Institutional Trust Services and Sekisui House.

Post-acquisition, FCT will own 50% of the retail mall. The acquisition will not have a material effect on the net asset value per unit and distribution per unit of FCT for the current financial year. 

“The acquisition is in line with our growth strategy to generate long-term returns for FCT and its unitholders. Punggol is a growing and vibrant precinct, and Waterway Point is well positioned as a retail and services hub to serve the needs of the expanding population,” Richard Ng, CEO of FCT’s manager, said. 

FCT’s manager said it aims to finance the total acquisition outlay of $132.3m, which includes the purchase consideration, with a combination of debt and/or internal sources.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

SIT, DNV ink 3-year partnership on maritime decarbonization and digitalization
The parties will cooperate in three key areas.   The Singapore Institute of Technology (SIT) has joined hands with a maritime advisor, DNV, to advance net-zero ambitions in the Lion City’s maritime sector.


Where to invest your millions in real estate
Amongst locations, realtors suggest the Core Central Region.   Individuals seeking shelter in the real estate market amidst the rising inflation must consider three things before deciding where to invest their millions in.   George Tan, managing director of Savills Digital Residential Marketing, said one of these factors is location.    Tan said buyers should consider areas which are highly demanded and well located—easy access to prestigious or international schools, MRT, malls and food and beverage (F&B) establishments. All these will contribute to good rental demand.   PropNex realtor, Andy Lim, echoed this, adding that buyers should particularly invest in properties within one kilometre of the prestigious schools.