CICT, which bills itself as Singapore’s largest proxy to commercial real estate, owns a portfolio of 26 office and retail properties worth $24.2 billion.
DBS Group Research has maintained its “buy” call and $2.70 target price on CapitaLand Integrated Commercial Trust (CICT) following its 3QFY2022 business updates, on expectations of higher rental income contributions in the coming FY2023.
On Oct 21, CICT reported revenue and net property income increased by 14% and 13% y-o-y respectively, surpassing pre-pandemic levels.
