Frasers Centrepoint Trust Renews Property Management Agreements

Frasers Centrepoint Trust (SGX:J69U) renewed five-year property management agreements for four Singapore malls till 3031, according to a Friday filing with the Singapore Exchange. Fee structures for three of the properties are set at 2% of gross revenue plus 2% of net property income annually, along with an additional 0.5% NPI fee, which will cover leasing commissions. For the fourth property, the Waterway Point, the structure is based on 2% of gross revenue and 2.5% of NPI without a separate leasing commission structure.