Causeway Point accounts for almost 28% of FCT’s revenue and net property income (NPI). During a 1HFY2024 ended March results briefing in April, Richard Ng, CEO of FCT’s manager, was asked if he was concerned about “economic leakage” or the leakage of potential sales from customers travelling out of Singapore to shop.
The Rapid Transit System (RTS) will link Woodlands North Station on the Thomson East-Coast Line (TEL) and Bukit Chagar Station in Johor. The first trains are likely to start running by the end of 2026. According to MRT Corp, train frequencies are scheduled to be one every 3.6 minutes during peak hours. The trains will be able to carry 10,000 passengers an hour, and the journey will take around six minutes from station to station.
What will the new trains and the new link to Johor Bahru do to malls along the TEL? Woodlands Station, the stop before getting to Woodlands North, is connected to Causeway Point, the largest Frasers Centrepoint Trust (SGX:J69U
) (FCT) asset. Will our town centres turn into ghost towns?
