Daily Archives: 2 Nov 2009

FRASERS Centrepoint Trust (FCT) is now ready to inject another two retail malls into its portfolio, chief executive Christopher Tang told BT recently.

Doing well: YewTee Point, located next to Yew Tee MRT station, has a net lettable area of 73,000 square feet, which has achieved an occupancy rate of 98per cent

While Mr Tang did not say when exactly the two malls – YewTee Point and Northpoint 2 – are likely to be bought over from parent company Frasers Centrepoint Ltd, the trust and the malls are all ‘ready’, he said.

Both malls are now stable income-producing properties.

YewTee Point, located next to Yew Tee MRT Station, has seen almost a million shoppers since it soft opened in March this year. The mall, which has a net lettable area of 73,000 square feet, has achieved an occupancy rate of 98 per cent.

Northpoint 2 at Yishun – an extension of Northpoint, which is already part of FCT’s portfolio – is also now seeing good occupancy and footfall, Mr Tang said. Continue reading →