CapitaLand China Trust (CLCT)’s Singapore’s largest China-focused REIT announced its 1H2021 result this week. CLCT’s portfolio constitutes 11 shopping malls and five business park properties with diversified portfolio of total GFA approx. 1.7 million sqm located across 10 Chinese cities.
It was a set of strong figures. 1H2021 distributable income (DI) and Net Property Income (NPI) rose yoy by 72.9% and 84.4% respectively.
The yoy growth rates in DI and NPI were the highest since CLCT’s listing in 2006.
DPU also rose 40.1% to 4.23 cents compared to 3.02 cents for 1H2020. Unitholders are expecting to receive 1H 2021 DPU on 27 Sep 2021 based on Record Date of 6 Aug 2021.
From CLCT press release:
“This was mainly due to new contribution from its business park portfolio1 , 100% contribution from Rock Square 2 and new contribution from CapitaMall Nuohemule3 , partially offset by the absence of contribution from CapitaMall Minzhongleyuan and CapitaMall Saihan following their divestment on 10 Feb and 7 Jun 2021 respectively....