Shopping malls have been given a new lease of life.
Since April 26, SafeEntry barriers have been removed at malls across the island as Singapore continued easing COVID-19 measures.
Shoppers no longer have to whip out their TraceTogether tokens or apps to enter malls and restaurants.
With group size limits removed and self-serve buffets also back on the cards, a sense of normalcy is beginning to take hold.
And with that, unitholders of retail cum commercial REITs such as CapitaLand Integrated Commercial Trust (SGX: C38U), or CICT, can finally look forward to a stronger recovery in shopper traffic.
We took a look at four important points from the REIT’s latest business update for the first quarter of 2022 (1Q2022) to gain insights into the REIT’s prospects.
Stable financial and portfolio performance
CICT delivered a solid, if unspectacular, financial performance for 1Q2022.
The REIT reported gross revenue of S$339.7 million for the quarter, 1.5% higher year on year....