FCT’s occupancy rises to 99.9% after new cinema tenants replace Cathay

[SINGAPORE] Mall operator Frasers Centrepoint Trust’s (FCT) committed occupancy rate rose to 99.9 per cent after the first quarter ended Dec 31, 2025, from 98.1 per cent in the preceding quarter, following the successful backfilling of cinema spaces at two of its malls.

The spaces at Causeway Point and Century Square were taken up after their previous tenant, Cathay Cineplexes, entered liquidation.

At Causeway Point, the former Cathay cinema has been replaced by SAS Cineplex, while Golden Village has taken over at Century Square, the trust’s manager said in a first-quarter business update on Friday (Jan 23).

Cathay closed its final four outlets in September 2025 – those at Causeway Point, Century Square, Downtown East and Clementi.

As at Dec 31, 2025, six of FCT’s 11 malls – Nex, Causeway Point, Waterway Point, Tampines 1, Century Square and White Sands – had 100 per cent committed occupancy. Hougang Mall, which is undergoing asset enhancement initiative works, was excluded from the committed occupancy count.

During the quarter, shopper traffic across FCT’s portfolio rose 1.3 per cent, while tenant sales increased 2.7 per cent.

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As at Dec 31, 2025, FCT’s aggregate leverage stood at 40.3 per cent, up from 39.6 per cent as at Sep 30.

Its year-to-date average cost of debt fell to 3.5 per cent from 3.8 per cent, while the quarterly average cost of debt was unchanged at 3.5 per cent.