With the rollout of vaccinations in Singapore already underway, most people will be looking forward to resuming a semblance of normalcy in everyday life.
Along with transitioning into the new normal, investors will be on the lookout for recovery stocks.
CapitaLand Integrated Commercial Trust (SGX: C38U), or CICT, is one of Asia’s largest commercial REITs and could stand to benefit from a strong recovery in shopping traffic.
CICT recently released its full-year financial results for 2020, its first report since the merger between CapitaLand Mall Trust and CapitaLand Commercial Trust was completed to form CICT.
Here are five key points investors should take note of.
Portfolio occupancy remains strong
CICT reported a high overall portfolio occupancy rate of 96.4% as of 31 December 2020.
Retail occupancy remained strong at 98.0%, higher than the Singapore national retail occupancy rate of 90.4%.
Most of CICT’s malls maintained close to maximum occupancy, but CICT’s Clarke Quay asset saw occupancy drop to 90.1%, from 100% on 31 December 2019....