As Singapore’s largest REIT for commercial real estate, CapitaLand Integrated Commercial Trust (CICT) owns a diversified portfolio of high-quality retail and office assets, with a strong focus on Singapore. As of 31 December 2025, its portfolio spans Singapore, Frankfurt, and Sydney, with a total property value exceeding S$27 billion. I attended CICT’s 2026 annual general meeting (AGM) to better understand its performance over the past year and how management is navigating a more uncertain macroeconomic environment. Here are 10 key takeaways from the AGM. 1. Development pipeline in Hougang introduces a new growth engine. CICT is expanding into development through the Hougang Central integrated project, with a total development cost of approximately S$1.1 billion and an expected yield on cost of just over 5%. This marks a shift beyond traditional acquisition-led growth, allowing the REIT to generate value through development margins. The project is strategically located in the heart...