Frasers Centrepoint Trust's retail occupancy eases to 99.6%

Cost of debt fell to 3.0% as shopper traffic rose 2.4% in Q3.

Frasers Centrepoint Trust reported 99.6% committed occupancy across its retail portfolio in the third quarter (Q3) of its fiscal year 2026.

The company said in a regulatory filing that this was a slight decrease from 99.9% a year ago and 99.8% the previous quarter. The latest figure excludes Hougang Mall and NEX due to ongoing asset enhancement initiatives.

Broken down, the majority of its retail assets reported a slight decline in their committed occupancy from the previous quarter. These are Tampines 1, Tiong Bahru Plaza, Century Square, and White Sands.

For shopper traffic and tenants’ sales, both increased by 2.4% and 0.2% in Q3, respectively.

Frasers Centrepoint also reported a “healthy financial position with lower cost of debt” during the period. It said Q3 average cost of debt declined further to 3.0% due to the expiry of interest rate swaps in the second quarter.

The company earlier announced the proposed sale of White Sands in Pasir Ris for $467m.

FCT expects net proceeds of about $454.1m from the divestment, which will be used to repay debt. On a pro forma basis, this would reduce its aggregate leverage from 40% to 36.5%.

The sale’s completion is expected around 30 September 2026.

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