CICT reports 6.3% y-o-y gain in net property income for 1QFY2024

CapitaLand Integrated Commercial Trust has reported a net property income of $293.7 million for 1QFY2024, up 6.3% y-o-y, thanks to rental income growth, combined with lower operating costs.

Committed occupancy was down by 0.3 percentage points Q-o-Q to 97%. Gross revenue, meanwhile, was up 2.6% y-o-y to $398.6 million, reported CICT in its business update.