CapitaMall Trust (CMT) is Singapore’s first and largest retail REIT. CMT first listed in July 2002 and now owns a portfolio of 16 retail properties and malls that includes some of the most popular retail properties and malls in Singapore like Plaza Singapura, Raffles City, Clarke Quay, and Bugis Junction. CMT’s total portfolio value as at 31 Dec 2016 is $10.3 billion.
With the government making headlines recently about the possibility of making Orchard Road car-free to reinvigorate the shopping belt due to the weakening retail scene in Singapore, I wanted to know how CMT planned to navigate the choppy waters ahead.
Here’s are my key takeaways from CapitaMall Trust’s 2017 AGM:
- Gross revenue grew 3.1% to $689.7 million. The increase was mainly due to IMM Building which posted 10.4% growth year-on-year, and Bedok Mall which posted 306% growth year-on-year. The sharp rise in Bedok Mall …