Frasers Centrepoint Trust agreed to acquire the remaining a 63.1% stake of PGIM Real Estate AsiaRetail for S$1.06bn.

Frasers Centrepoint Trust, a real estate company, agreed to acquire the remaining a 63.1% stake of PGIM Real Estate AsiaRetail, one of the most successful Asia core funds, for S$1.06bn. “This transaction is a follow-through of our strategy to increase FCT’s stake in ARF. We acquired the initial 17.1% stake in ARF in April 2019, followed by acquisitions of additional interest that increased FCT’s stake to the current 36.9% when the opportunity presented itself. The acquisition of the remaining 63.1% stake is the final step to carry that strategy to fruition," Richard Ng, FCAM Chief Executive Officer.