CapitaLand Integrated Commercial Trust (CICT) has released their 3Q2022 Business Update.
On the back of new acquisition, Gross Revenue increased 13.7% year on year to S$374.1 million. Net Property Income (NPI) also increased 12.7% year on year to S$273.2 million. As you may have already guessed, the gains were partially offset by rise in utilities expenses.
In terms of year to date (YTD) performance, gross revenue increased 8.9% to S$1,061.7 million while Net Property Income (NPI) increased 8.4% to S$775.0 million.