Retailers heading back to Causeway Point after renovations

Share  |    |   Comment  |   E-mail to friend  |   Bookmark & Share   

Retail shops at Causeway Point are expected to re-open by the end of this year, following the refurbishment of the mall.

The renovation works which started in the early part of last year caused its occupancy rate to decline to 70 percent. However, DMG Research noted that the “worst is over in CWP”, as shop owners will soon return to set up their business at the mall.

Meanwhile, Frasers Centrepoint Trust’s (FCT) revenue for 1QFY12 increased 30 percent year-on-year as occupants go back to renting mall space at Causeway Point.

FCT also recorded a 2.20¢ distribution per unit (DPU) on the back of the strong performance in Causeway Point, as well as good contributions from Bedok Point and positive rental reversion.

Furthermore, FCT said it has no plans for any acquisitions this financial year due to the volatile economic condition.

Related Stories:

TCT's property portfolio up 19.58% in 2011

New lifestyle hub planned for Punggol

Traders hotel set to rise on Phoenix site

Share  |    |   Comment  |   E-mail to friend  |   Bookmark & Share