Frasers Centrepoint Trust plans to buy full ownership of Northpoint City in Singapore for $1.17 billion.

Frasers Centrepoint Trust (FCT) plans to acquire full ownership of Northpoint City in Singapore for $1.17 billion, aiming to become the largest suburban retail landlord in Singapore. The purchase includes the South Wing of Northpoint City, the largest shopping mall in the north of Singapore. FCT intends to enhance the asset and tenant mix after the acquisition, financed partly by a fund-raising effort launched on the same day. The deal, subject to unitholder approval, includes the acquisition price, bank loans, and related fees.