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.
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