The trust’s manager said net proceeds from the sale will be used to repay certain debts. Read more at straitstimes.com.
SINGAPORE - Frasers Centrepoint Trust will divest retail mall Changi City Point for $338 million to an unrelated third party.
The trust’s manager said net proceeds from the sale will be used to repay certain debts. This will allow the real estate investment trust to lower its gearing and boost its financial position. The mall is located at 5 Changi Business Park Central 1 and is connected to Expo MRT station. This train stop also serves as an interchange station between the Downtown Line and the East-West Line, which goes to Changi Airport.
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