CICT's Q3 net property income more than doubles to S$242.6m, with room for retail recovery
Result comes amid enlarged portfolio from merger of CapitaLand Mall Trust and CapitaLand Commercial Trust last year
Singapore
CAPITALAND Integrated Commercial Trust's (CICT) net property income (NPI) more than doubled to S$242.6 million for Q3 ended Sept 30, from S$104.5 million previously, thanks to its enlarged portfolio from the merger of CapitaLand Mall Trust and CapitaLand Commercial Trust last year.
The trust's portfolio recorded a committed occupancy of 94.4 per cent as at end-September, with a weighted average lease expiry of 3 years, CICT disclosed in its quarterly business update on Friday.
Gross revenue for the quarter stood at S$329 million, more than double from S$150.3 million a year earlier. Retail assets contributed S$136.6 million of the latest quarter's gross revenue, up from S$109.9 million in Q3 last year. NPI in this segment rose 31.5 per cent year-on-year to S$97…
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