CapitaLand Integrated Commercial Trust
SGX:C38U

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CapitaLand Integrated Commercial Trust
SGX:C38U
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Price: 2.32 -0.43% Market Closed
Market Cap: 17.7B

CapitaLand Integrated Commercial Trust
Investor Relations

CapitaLand Integrated Commercial Trust (CICT), a trailblazer in the Singaporean real estate landscape, operates as a dynamic and diverse real estate investment trust (REIT). This trust was born from a strategic merger between CapitaLand Mall Trust and CapitaLand Commercial Trust, enabling it to hold a commanding position as one of the largest REITs in the region. CICT has harnessed the power of urbanization through its portfolio, which showcases a blend of commercial, retail, and integrated developments. This unique mix allows CICT to leverage the synergy between retail tenants and office lessees, creating vibrant spaces that cater to both consumer and business needs. By concentrating on properties situated in prime areas with high foot traffic and demand, CICT ensures its assets remain attractive to tenants, both in terms of accessibility and prestige.

Revenue generation for CICT is primarily driven by rental income obtained from its strategic mix of property types. As a landlord, CICT meticulously curates its tenant mix to maintain a balance between stability and growth. Anchoring shopping malls with reputable retail brands guarantees consistent footfall, while its office spaces attract multinational corporations seeking prime locations. This diversity within its asset portfolio not only provides a stable income base but also offers resilience against economic fluctuations. Additionally, CICT continuously enhances its properties through asset enhancement initiatives, ensuring long-term appreciation and market competitiveness. This commitment to maintaining and upgrading its properties helps CICT sustain a steady stream of income, which it redistributes to investors in the form of dividends, thus embodying its role as a vital player in the world's rapidly evolving urban real estate landscape.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 28, 2025
AI Summary
Q3 2025

Strong Quarter: Management described the third quarter as strong in both operating and financial performance, with growth across office, retail, and contributions from asset enhancements and acquisitions.

Revenue & NPI: Gross revenue grew 1.5% year-on-year and net property income (NPI) rose 1.6% YoY, with like-for-like NPI up 1.4% despite asset sales.

Gearing & Debt: Gearing increased to 39.2%, mainly due to advanced distributions. Cost of debt dropped to 3.17% in the third quarter and is guided to be 3.1–3.2% next year.

Occupancy: Office occupancy improved, especially in Australia and Germany, with overseas occupancy gains delivered as promised. Retail and Singapore assets remain well-leased.

Rental Reversions: Rental reversions improved, with office up 6% (from 4.8% last quarter) and retail up 7.8%.

Retail Sales: Retail sales rebounded after a soft second quarter, driven partly by government vouchers and a bounce-back in consumer spending.

Acquisition & AEI Pipeline: Management remains active on acquisitions and asset enhancements, but cautioned that future deals depend on value and market conditions.

Key Financials
Gearing
39.2%
Cost of Debt
3.17%
Rental Reversion – Office
6%
Rental Reversion – Retail
7.8%
Office Occupancy – Australia (3-building avg)
91.2%
Office Occupancy – Germany (ex-Gallileo)
86%
Other Earnings Calls

Management

Mr. Tee Hieong Tan
CEO & Executive Non-Independent Director of CapitaLand Integrated Commercial Trust Management Ltd
No Bio Available
Ms. Mei Lian Wong
Chief Financial Officer of CapitaLand Integrated Commercial Trust Management Limited
No Bio Available
Ms. Jacqueline Lee
Head of Investment of CapitaLand Integrated Commercial Trust Mgmt Ltd
No Bio Available
Ms. Mei Peng Ho
Head of Investor Relations of CapitaLand Integrated Commercial Trust Management Limited
No Bio Available
Ms. Pei Siang Chia
Vice President of Group Communications
No Bio Available
Mr. Chee Seng Pang
Dy GM & Head of Property Mgmt - Capitamall Trust Mgmt Ltd - Mngr
No Bio Available
Mr. Lee Yi Zhuan
Head of Portfolio Management of CapitaLand Integrated Commercial Trust Management Limited
No Bio Available
Ms. Leng Li Tee
Company Secretary of CapitaLand Integrated Commercial Trust Management Limited
No Bio Available
Ms. Allison Chen
Executive
No Bio Available

Contacts

Address
168 Robinson Road, #30-01 Capital Tower
Contacts
+6567132888.0
www.cmt.com.sg