Equity Analysis /
Singapore

SG : Frasers Centrepoint Trust - Tenant sentiment holding up

    Munyee Lock
    Munyee Lock

    Head of Regional Property

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    CGS-CIMB
    27 July 2022
    Published byCGS-CIMB

    Suburban malls continue to outperform its peers in this phase of recovery, delivering tenant sales above pre-COVID levels and positive reversion. Strong leasing momentum continued into 3Q; 35% of GRI signed YTD 9M22. Reiterate Add rating with unchanged DDM-based TP of S$2.75.