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Frasers Commercial Trust kept at 'buy' with Street-high target price by DBS on back of lease signed with Google

Uma Devi
Uma Devi6/26/2019 04:34 PM GMT+08  • 2 min read
Frasers Commercial Trust kept at 'buy' with Street-high target price by DBS on back of lease signed with Google
SINGAPORE (June 26): DBS Group Research is maintaining its “buy” call on Frasers Commercial Trust (FCOT) with a Street-high target price of $1.70, on account of its five-year tenancy lease deal with Google at Alexandra Technopark (ATP).
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SINGAPORE (June 26): DBS Group Research is maintaining its “buy” call on Frasers Commercial Trust (FCOT) with a Street-high target price of $1.70, on account of its five-year tenancy lease deal with Google at Alexandra Technopark (ATP).


See: Google Asia Pacific is new tenant at Alexandra Technopark

The average gross rent for Google is expected to be kept at ATP’s recent monthly signing rates of about $4 to low $4s psf, save for some step-ups that might occur in the lease.

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