PGIM Real Estate AsiaRetail Fund is an open-end private investment vehicle that was incorporate in Bermuda and is currently the largest non-listed retail mall fund in Singapore. It owns and manages six retail malls – Tiong Bahru Plaza, White Sands, Liang Court, Hougang Mall, Century Square and Tampines 1; an office property – Central Plaza; as well as four retail malls in Malaysia.
SINGAPORE (Feb 28): The manager of Frasers Centrepoint Trust (FCT) announced that its wholly-owned subsidiary, FCT Holdings (Sigma), will be acquiring a 17.13% stake in PGIM Real Estate AsiaRetail Fund for a consideration of $342.5 million.
FCT will be acquiring 90,346 shares in PGIM Real Estate AsiaRetail Fund from some of its shareholders in 12 conditional sale and purchase agreements.
