Frasers Centrepoint Trust (FCT) is acquiring an additional 12.07 per cent stake in PGIM Real Estate Asia Retail Fund (ARF) for S$197.2 million, in line with plans to bolster its presence in Singapore's suburban retail sector.

FCT now holds a 24.82 per cent interest in ARF, through its wholly-owned subsidiary FCT Holdings (Sigma). The acquisition, expected to be completed in July, will raise FCT's interest in the fund to 36.89 per cent.