CapitaLand Integrated Commercial Trust reported a 75% rise in its Distribution per Unit (DPU) to S$0.52 for 1H2021. Its distributable income was at S$336mn ($247mn) driven by contribution from CapitaLand Commercial Trust (CCT) assets and a 100% contribution from Raffles City Singapore after the merger with CCT. Gross revenue more than doubled to S$646mn ($475mn) YoY with net property income of S$472mn ($347mn), also more than doubling, despite granting rental waivers worth S$18.9mn ($14mn) for tenants affected by the pandemic. As of June, portfolio occupancy stood at 94.9%.
Capitaland’s SGD 3.2% 2025s were stable at 107.4, yielding 1.32%.
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