Overall, the group's total revenue declined on CLAS deconsolidation, but the higher fee revenue partially offsets the lower REIB revenue.
CapitaLand Investment (CLI) has reported a total revenue of $496 million for the 1QFY2025 ended March 31, a 24% y-o-y decline due to the deconsolidation of CapitaLand Ascott Trust (SGX:HMN
) (CLAS).
Likewise, revenue for its real estate investment business (REIB) declined 6% y-o-y for 1QFY2025 after adjusting for CLAS deconsolidation, mainly due to the divestment of on-balance sheet assets including 16 USA multifamily assets and Ascendas iHub Suzhou.
