On 1st February 2023, CapitaLand Integrated Commercial Trust (CICT) reported their FY2022 Financial Results. With assets in the retail and office sector, CICT has benefited from the border relaxation and increase in the return of office community. Downtown malls are seeing higher shopper traffic. Overall operating metrics have improved  with higher portfolio committed occupancy driven by proactive leasing strategy on the back of healthy market demand. How has CICT fare? Let us take a look below in more details at its 2H2022 and full year 2022 financial results.

CICT 2H2022 Financial Results

In 2H2022, Gross Revenue rose by 14.4% y-o-y to S$754.1 million and net property income grew by 13.1% y-o-y to S$541.7 million. The better performance was largely driven by contributions from the acquired 70.0% interest in CapitaSky and the Australia portfolio as well as higher rental income from most of the Singapore assets. This was partially offset...