Owning more of Ion Orchard and some of Jewel Changi Airport will boost CICT’s retail exposure and attractiveness
The manager could also sell Six Battery Road to reduce its office exposure
[SINGAPORE] CapitaLand Integrated Commercial Trust (CICT) – the Republic’s oldest and largest real estate investment trust (Reit) – offers investors exposure to properties that are used for retail and/or office purposes, with a large Singapore focus.
In 2024, the trust raised its retail exposure. It bought 50 per cent of trophy mall Ion Orchard and the connecting underpass from its sponsor CapitaLand Investment , and sold office asset 21 Collyer Quay. However, after Tan Choon Siang became chief executive officer of CICT’s manager in May, the trust’s first acquisition has helped to increase its office property exposure.
CICT recently upped its interest in CapitaSpring’s commercial component from 45 per cent to 100 per cent. This comprises office and retail net lettable area of about 661,400 square feet (sq ft) and 11,900 sq ft, respectively.
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