Singapore’s oldest retail real estate investment trust (REIT) is Capitaland Mall Trust (CMT). It owns some of the retail malls that you would have visited, had you been in Singapore.
Over the past 10-12 years, had you been invested in Capitaland Mall Trust your internal rate of return (XIRR) would have been around 5%.
It seems CMT is very bond like.
As we moved into the digital age, e-commerce have challenged the identity and viability of malls around the world.
CMT have been aggressively doing asset enhancement, where they renovate and rationalize their mall space in order to stay relevant, attract tenants, re-imagine the way retail and work.
These 2 days, CMT announced one divestment and their first quarter results.
I decide to do a small summary.
