CMTML sees positive rental reversions (Amended)
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Singapore
Capitaland Mall Trust Management Limited (CMTML) is not ruling out quarters with negative rent reversions in the coming year. However, CMTML chief executive officer Wilson Tan stressed that while there will be downward pressure on rental reversions, he is still expecting positive rental reversions for the whole of 2016.
This is on the back of a trend of falling positive rental reversions. For the full year ended December 2015, the CapitaLand Mall Trust (CMT) portfolio clocked rental reversions of 3.7 per cent on the 594 new leases/renewals amounting to 21.1 per cent of their portfolio's total net lettable area. It clocked rental reversions of 6.1 per cent in 2014.
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