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Frasers Centrepoint gets nod to buy site next to Northpoint Shopping Centre
By Loh Kim Chin, Channel NewsAsia | Posted: 04 September 2006 2257 hrs

SINGAPORE : Frasers Centrepoint says it has received government approval to buy a site adjacent to Northpoint Shopping Centre in Yishun.

But in a stock exchange filing, Frasers Centrepoint did not say how much it was paying for the site.

The 44,000 square foot site is zoned for retail mall development.

It has a potential gross floor area of 130,000 square feet.

Frasers Centrepoint intends to develop a building with five levels of retail space, including a retail basement floor and a basement car park.

The new building will be fully integrated with Frasers Centrepoint Trust's Northpoint Shopping Centre which will be transformed into an enlarged shopping mall with a total net lettable area of 224,000 square feet.

When completed, the new building will be injected into Frasers Centrepoint Trust.

- CNA /ls