Here's what you need to know about CapitaLand Integrated Commercial Trust's (CICT) purchase of ION Orchard mall. What happened? We have not seen Singapore REITs making large acquisitions for some time. After all, the elevated levels of interest rates have made it harder for REITs to purchase assets that would be beneficial to unitholders. This week, CapitaLand Integrated Commercial Trust, or CICT, announced that it had entered into an agreement with its sponsor, CapitaLand Investment Limited (CLI), to acquire a 50% interest in ION Orchard mall at an agreed property value of S$1.85 billion. The share price of CICT fell by 3.3% to S$2.06 after the REIT resumed trading on 4 September. Let’s dig deeper into this transaction to find out more about why CICT undertook this purchase. What you need to know about CICT’s purchase of ION Orchard Mall #1 - An iconic mall with superb location ION Orchard is an eight-storey mall with a net lettable area of around 623,600 square feet....