On 1st August 2023, CapitaLand Integrated Commercial Trust (CICT) announced their 1H2023 Financial Results. The REIT has a market capitalisation of S$13.6 billion as at 31st July 2023. As of 31st December 2022, CICT’s portfolio comprises of 21 properties in Singapore, two properties in Frankfurt, Germany, and three properties in Sydney, Australia. Riding on the recovery of tourism and local consumption, shopper traffic and tenant sales for CICT’s malls are up year-on-year. How has CICT performed so far? Let us take a look in detail at its 1H2023 Financial Results and do a summary at the end of this post.

CICT 1H2023 Financial Results

In 1H2023, CICT’s Gross Revenue and Net Property Income increased by 12.7% and 10.1% year-on-year, reaching S$774.8 million and S$552.3 million, respectively. The improvements were attributed to contributions from the acquisitions of CapitaSky and the Australia portfolio, as well...