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Time for CICT to press on with divestments

Bukit Panjang Plaza, 21 Collyer Quay and Citadines Raffles Place present opportunities for the Reit to unlock value and redeploy proceeds to better use

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Kalpana Rashiwala

Kalpana Rashiwala

Published Thu, Feb 1, 2024 · 05:00 AM
    • A low-key expression-of-interest exercise for Bukit Panjang Plaza is set to close next week.
    • The 999-year leasehold tenure of 21 Collyer Quay is an attraction, but not vital for CICT. The building is leased to WeWork.
    • A low-key expression-of-interest exercise for Bukit Panjang Plaza is set to close next week. PHOTO: GOOGLE MAPS
    • The 999-year leasehold tenure of 21 Collyer Quay is an attraction, but not vital for CICT. The building is leased to WeWork. PHOTO: GOOGLE MAPS

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    SOME observers in property circles have noted that CapitaLand Integrated Commercial Trust (CICT) seems to be in a hurry to divest some assets.

    Last week, The Business Times reported that an expression-of-interest (EOI) exercise closed in the fourth quarter of 2023 for the 299-unit Citadines Raffles Place, which is in the CapitaSpring building at Market Street that was completed a couple of years ago.

    Now, word in the market is that a separate low-key EOI exercise is set to close next week for Bukit Panjang Plaza, a suburban mall which the real estate investment trust (Reit) has held for some time.

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