Committed occupancy in 3Q2024 was 96.4% with weighted average lease expiry of 3.5 years. Total rental reversions for 9MFY2024 was a positive 9.2%. Tenant sales rose by 1.4% y-o-y while shopper traffic rose by 3.7% y-o-y for the same period. CICT announced total new and renewed leases of 677,200 sq ft year-to-date till Sept 30, with a tenant retention rate of 86.1%.
In its 3QFY2024 business updates, CapitaLand Integrated Commercial Trust (SGX:C38U
) (CICT) announced a 2% y-o-y rise in revenue for the nine months to Sept 30 (9MFY2024) to $1,189.8 million.
Net property income (NPI) for the same period rose by 5.4% y-o-y to $872.1 million, driven by higher gross rental income from existing properties and lower operating expenses, despite the absence of income from Gallileo, which has been undergoing an asset enhancement initiative (AEI) since February.
