Frasers Centrepoint Trust delivers record 12.35-cent DPU
I'm LongbridgeAI, I can summarize articles.Frasers Centrepoint Trust reported a record distribution per unit (DPU) of 12.35 cents for the full year, its highest since listing in 2006. The second half DPU rose 2.6% YoY to $0.06214. Gross revenue increased 8.7% to $223m, driven by Northpoint City South Wing and higher rents. Occupancy remained strong at 99.7%. The trust divested White Sands for $467m and continues asset enhancement initiatives at Hougang Mall, NEX, and Causeway Point.
This is its highest payout since listing in July 2006.
Frasers Centrepoint Trust (FCT) reported a distribution per unit (DPU) of $0.06214 for the second half (H2) ending 30 September, up 2.6% from $0.06059 year on year (YoY).
This brought FCT’s DPU to 12.35 cents, marking its highest payout since its listing in July 2006, the trust's manager said.
Gross revenue in H2 rose 8.7% YoY to $223m, as net property income climbed 11.5% to $161m and distributable income rose 3.3% to $127m.
The manager attributed the growth to full-year contribution from Northpoint City South Wing and higher passing rents across most malls.
FCT’s retail portfolio maintained a committed occupancy rate of 99.7% as at 30 September, with average rental reversion of 6.6% for the financial year 2026.
Shopper traffic and tenant sales rose 1.8% and 1.3% YoY, respectively, whilst the portfolio’s average occupancy cost remained healthy at 16.3%.
The results reflected strong operating performance, capital recycling, and asset enhancement initiatives (AEIs), said Richard Ng, CEO of FCT’s manager.
FCT divested White Sands for $467m, an 8.4% premium to its appraised value, freeing up debt headroom to fund part of its joint development of the Bayshore Drive GLS site.
FCT also introduced 107 new-to-portfolio brands in FY2026, including new-to-market retail and dining concepts, to keep its malls aligned with evolving consumer trends, the manager added.
Its AEI programme continued, with Hougang Mall’s works completed in September 2026, NEX Phase 1 targeted for completion by end-2026, and Causeway Point’s AEI scheduled to begin in Q2 2027.