CapitaLand Integrated Commercial Trust Review @ 23 October 2022

Basic Profile & Key Statistics

Main Sector(s): Retail, Office & HospitalityCountry(s) with Assets: Singapore, Australia, Germany, China, Malaysia
No. of Properties (exclude development/associate/fund): 26

Key Indicators

Performance Highlight

Gross revenue and NPI increased yoy mainly due to contributions from newly acquired properties and higher gross turnover rent.

Shopper Traffic and Tenant Sales

Both tenant sales and shopper traffic have improved steadily since FEB 2022. As for YTD Sep 2022, tenant sales and shopper traffic have improved yoy, where tenant sales have exceeded the 2019 level.

Rental Reversion

Based on average incoming committed rents versus average outgoing rents, the YTD Sep 2022 rental reversion is at 0.6% for the retail portfolio and 7.9% for the office portfolio.

Asset Enhancement Initiative

AEI for CQ @ Clarke Quay has started and would be completed in phases until 3Q 2023 while AEI for Raffles City is to be completed in 4Q 2022.

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