Frasers Centrepoint Trust (FCT) is acquiring an additional 24.5 per cent effective interest in shopping mall Nex at Serangoon Central for $523.1 million from its sponsor Frasers Property.

The acquisition will value Nex at Serangoon Central, the largest suburban mall in the north-east of Singapore by net lettable area, at $2.13 billion, according to the announcement on Jan 25.