During the 2HFY2022, gross revenue rose by 14.4% y-o-y to $754.1 million mainly due to the contributions from the acquisitions of 66 Goulburn Street, 100 Arthur Street, 50.0% interest in 101-103 Miller Street and Greenwood Plaza in Sydney, Australia. The contribution from the acquisition of CapitaSky in Singapore, as well as higher occupancy, rental rates, as well as higher rental on gross turnover also led to the higher gross revenue. Net property income (NPI) for the 2HFY2022 grew by 13.1% y-o-y to $541.7 million.
CapitaLand Integrated Commercial Trust (CICT) is a good proxy to the reopening theme, with both its retail and office assets expected to see a boom this year. With that, analysts are generally keeping a positive stance on the trust, despite the current environment of rising interest rates.
This also comes on the back of CICT announcing its latest FY2022 ended December results, which saw DPU for the year end period come in 1.7% higher y-o-y at 10.58 cents, while the 2HFY2022 period saw DPU gain 2.7% y-o-y to 5.36 cents.
