Opening Hours

Mon - Fri: 7AM - 7PM

SINGAPORE – CapitaLand China Trust (CLCT) reports gross revenue of RMB 1.4 billion (SGD 272.5 million) in the first nine months to 30 September, up 7% from RMB 1.3 billion in the same period last year Did. return.

Net asset income (NPI) was 970.8 million yuan, up 7.5% from 903.4 million yuan in the same period last year.

CLCT’s manager said in Monday’s business update that the real estate investment trust’s new economy portfolio saw full contributions from the business park and the logistics park during the period.

At the end of September, the business park portfolio had an occupancy rate of 94.3% and a weighted average lease term (Wale) of 1.6 years for Gross Rental Income (GRI) and 1.7 years for Net Lettable Area (NLA).

The logistics park recorded an overall occupancy rate of 96.6%. Its wales by GRI and NLA were 1.3 and 1.4 years respectively.

Strong performances in sectors such as engineering and electronics and broad rent per square meter growth in the new economy segment led to a +5.6% turnaround in the new economy portfolio.

The retail portfolio also achieved a positive recovery of +4.9% for the first time since the start of Covid-19, the manager said. At the end of September he had a 96.7% occupancy rate, with GRI and NLA wales of 2.2 and him of 3.4 respectively.

The retail portfolio’s Q3 traffic increased 37.5% quarter-on-quarter and sales increased 33.7% quarter-on-quarter. Managers also observed an overall improvement in the retail portfolio post-lockdown in the first half of 2022.

Looking ahead, the manager believes that the CLCT will align with China’s strategic policy direction, giving it credibility to capture growth opportunities across the asset class.

The CLCT unit was trading at 97.5 cents at 9:57 am on Monday, down 0.5% or 0.5%. business times CapitaLand China Trust’s 9M revenues up 7% on better rents

Recommended Articles