Frasers Centrepoint Trust to buy Changi City Point for S$305m
SINGAPORE - Changi City Point at Changi Business Park looks set to become the next shopping mall to be acquired by a real estate investment trust.
SINGAPORE - Changi City Point at Changi Business Park looks set to become the next shopping mall to be acquired by a real estate investment trust.
Frasers Centrepoint Trust (FCT) said on Tuesday it has entered into a conditional sale and purchase agreement to buy Changi City Point from Ascendas Frasers for S$305 million.
Ascendas Frasers is a 50-50 joint venture between Ascendas Development and Frasers Centrepoint, which is FCT’s sponsor.
Changi City Point -- a three-storey mall with one basement level -- is known for its various factory outlets.
It is located near the Singapore Expo convention and exhibition centre and the Singapore Expo MRT station.
Channel NewsAsia