CCT posts higher Q3 DPU; expects pressure on market rents

Singapore

CAPITALAND Commercial Trust (CCT) on Wednesday reported a 2.4 per cent rise in distribution per unit (DPU) to 2.14 Singapore cents for the third quarter ended Sept 30, 2015, on the back of higher rents.

But it flagged that an "above-normal volume of new supply" of office space in Singapore between the second half of 2016 and first half of 2017 is expected to cause downward pressure on market rents.