FCT eyes 99.9% occupancy through asset enhancements, northern pivot

Shopper traffic rose 1.3 %, whilst Hougang Mall and NEX upgrades proceed.

Frasers Centrepoint Trust will be focusing on asset enhancements and northern Singapore developments to support its suburban retail portfolio, as operating indicators improved in the first quarter ended 31 December 2025 (Q1 FY2026).

In Q1 FY2026, committed occupancy stood at 98.1% during the quarter and is expected to rise to 99.9% following the backfilling of cinema spaces at Causeway Point and Century Square after the quarter, according to the group’s ‘business updates’ release.

Shopper traffic across the portfolio rose 1.3% year-on-year, whilst tenants’ sales increased 2.7%.

Meanwhile, FCT plans to complete the ongoing Hougang Mall asset enhancement initiative by September, following the completion of its first phase in November 2025.

A separate asset enhancement initiative at NEX is scheduled to begin in the second quarter of 2026.

The group expects Singapore’s suburban retail demand to remain supported by population growth, new housing supply, and limited additions to suburban retail space.

The trust is also positioning its northern malls to capture potential growth from residential and transport developments, ahead of the Johor Bahru–Singapore RTS link opening at the end of the year.

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