FLCT hits 95.9% occupancy rate in Q123 

It recorded 239,500 sqm of leases and renewals.

Frasers Logistics & Commercial Trust (FLCT) reached an occupancy rate of 95.9% in the first quarter of the financial year 2023, its latest business update showed.

By property type, FLCT recorded 100% occupancy for its logistics and industrial (L&) portfolio and maintained occupancy of  89.8% for its commercial portfolio.

In the same quarter, the REIT reported 239,500 square meters (sqm) of leases and renewals.

In FY23, FLCT has six industrial and 34 commercial leases up for renewal.

As of the end of Q123, FLCT has 105 properties in its portfolio. The value of its portfolio stood at $6.7b.

FLCT also reported a weighted average lease expiry (WALE) of 4.6 years and rental reversion