Frasers Centrepoint Trust (FCT) is divesting White Sands mall for S$467 million, an 8.4% premium over an independent valuation of S$431 million dated May 31, 2026 [1, 2, 3]. The sale was agreed with an unrelated third-party purchaser, Growth Capital [1, 3]. Completion of the divestment is expected around September 30, 2026 [1, 2, 3].

FCT plans to use estimated net proceeds of about S$454.1 million, after divestment expenses of approximately S$2.8 million, primarily to repay debt [1, 3]. This will reduce FCT's aggregate leverage from 40% as of March 31, 2026, to 36.5%, strengthening the trust’s financial position [1, 2, 3]. After costs, FCT expects a net gain of about S$32.4 million from the sale [1, 2, 3].

White Sands mall, located in Pasir Ris, is the smallest mall in FCT’s portfolio, with a gross floor area of 240,371 sq ft and a net lettable area of 150,352 sq ft [2, 3]. FCT acquired the mall in 2020, and it has performed well since the acquisition [2, 3]. Following the divestment, FCT’s retail portfolio will consist of eight malls: Causeway Point, Century Square, Hougang Mall, NEX, Northpoint City, Tampines 1, Tiong Bahru Plaza, and Waterway Point [1, 2, 3].

Richard Ng, CEO of Frasers Centrepoint Asset Management, said, "White Sands, the smallest mall in our portfolio, has performed well since acquisition. The divestment is part of our proactive portfolio management strategy to strengthen FCT’s portfolio resilience and to unlock value for unitholders. The transaction will enhance FCT’s financial position through the lowering of its aggregate leverage, and provide us with headroom to redeploy it into future growth opportunities." He also emphasized the focus on "optimising FCT’s portfolio composition and shaping a portfolio aligned with FCT’s long-term growth strategy while delivering sustainable income and long-term value to our unitholders" [1, 2].

FCT’s units closed at S$2.26 on June 30, 2026, down 3 cents or 1.3% before the announcement [1, 3].

The sale completion is scheduled for the end of September 2026, marking the next major milestone in FCT’s portfolio restructuring [1, 2, 3].