Capitaland China Trust (SGX: AU8U), a pure China Retail REIT which has recently updated their mandate, widening their investment scope to more real estate classes as well as more geographic locations. With China being the first country to face Covid-19 as well as the first country to start recovering from the pandemic, let’s take a look at the FY2020 Results of Capitaland China Trust and how well it fared during the recovery.

  1. Expected Drop In Gross Revenue and NPI
Year on Year Difference FY2020 FY2019
Gross Revenue RMB 1.056 billion (-12.2%) RMB 1.202 billion
Net Property Income (NPI) RMB 0.678 billion (-18.8%) RMB 0.835 billion

As expected, there was a drop in the Gross Revenue and NPI due to the drastic lockdown measures in China, whereby no one was allowed to even leave their house during the period.