Frasers Centrepoint Trust (J69U) said on Oct, 23 2025 that it has completed the purchase of all units in North Gem Trust and the entire share capital of its trustee-manager for approximately 375.2 million Singapore dollars in cash.

The transaction gives the real estate investment trust full ownership of Northpoint City South Wing, a retail mall at 1 Northpoint Drive in Singapore, and 100% control of the trust’s manager, Frasers Property North Gem Trustee.

The agreed property value for Northpoint City South Wing was set at 1.133 billion Singapore dollars, based on the average of two independent valuations of 1.146 billion and 1.120 billion Singapore dollars as at Dec, 31 2024.

The purchase price comprises 187.6 million Singapore dollars each for the 50% stakes previously held by FCL Amber and Bright Bloom Capital, plus about 0.03 million Singapore dollars for the trustee-manager’s net asset value.

Completion of the deal follows the signing of agreements in Mar, 25 2025 and gives Frasers Centrepoint Trust full control over the asset and its management platform.