S-REITs have been releasing their results over the past 2 weeks. From now onwards, I will be doing reviews every quarter. Let’s start off with retail REITs.
1. CapitaMall Trust
|Construction at the West Gate (source)|
· Completion of AEIs at Bugis+, Plaza Singapura, Atrium@Orchard and Clarke Quay. These properties have started to contribute more rental income.
· Increase in distributable income.
· High occupancy rate.
· Achieve positive rental reversions of leases.
· No refinancing needs in 2013.
· AEI of IMM commencing in June 2013.
· Completion of retail portion of the West Gate by 2013 year end. Several prominent tenants have already been secured, including department store Isetan, Food Republic, Yamaha Music School, Paradise Dynasty, Menya Musashi Ramen, Cafe Crema, and Paul Bakery.
· Possible acquisition of iON Orchard in the future.
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