CapitaLand Integrated Commercial Trust (CICT), Asia’s largest REIT, has announced the acquisition of the freehold Paragon for $3.9 billion, and divestment of Asia Square Tower 2. What happened? CapitaLand Integrated Commercial Trust (CICT) has been active managing its portfolio. We saw its acquisition of the remaining 55% interest in CapitaSpring in August last year, as well as the purchase of ION Orchard earlier.  This would make it one of the Singapore REITs that has been active buying assets over the past 18 months. On 20 April 2026, CapitaLand Integrated Commercial Trust (CICT) announced the acquisition of Paragon, a premier freehold integrated development on Orchard Road, for S$3.9 billion, and the divestment of Asia Square Tower 2 for S$2.476 billion simultaneously. To fund the shortfall, CapitaLand Integrated Commercial Trust (CICT) has also launched a private placement to raise at least S$600 million in new equity. In this article, we will dive deeper into the transactions and understand what it means for CapitaLand Integrated Commercial Trust (CICT) unitholders....