During the quarter, gross revenue and NPI for its retail assets and integrated developments rose on a y-o-y basis, and fell for its office assets.
CapitaLand Integrated Commercial Trust (CICT)'s gross revenue for the 1QFY2025 fell by 0.8% y-o-y to $395.3 million while net property income (NPI) also fell by 0.8% y-o-y to $291.5 million. The dips were mainly due to the absence of income from 21 Collyer Quay, which was divested on Nov 11, 2024.
On a like-for-like basis, assuming CICT received no income from the building in 1QFY2024, the REIT's gross revenue and NPI grew by 1.1% y-o-y and 1.4% y-o-y respectively. Portfolio NPI margin stood at 74%.
