On 24 April 2024, CapitaLand China Trust (“CLCT”) have announced their first quarter business update for 2024. The key update this quarter is the loss of their tenants at the Shanghai Fengxian Logistics Park, which resulted in the total committed occupancy of the logistic park portfolio to decrease to 67.6%. Although management did not directly disclose the total occupancy of CLCT, they have provided the Net Lettable Area (“NLA”) and committed occupancy of the respective portfolios. A re-computation will identify that the loss of these tenants resulted in the total occupancy of CLCT to have decreased to 88.0%. This is something to keep in mind as the unoccupied logistic park will translate to a lower net property income until they find new tenants.

Website: Financial Statements And Related Announcement::Full Yearly Results

Photo source: https://www.clct.com.sg/

Background

CLCT is Singapore’s largest China-focused real estate investment trust (“REIT”). CLCT’s portfolio constitutes of