According to the REIT, there has been a positive rent reversion trend for retail and office portfolio, with tenant sales per square foot (psf) surpassing 2019 levels YTD September as downtown malls saw a “quicker rebound” with border relaxation and the increase in return of office workers.
Capitaland Integrated Commercial Trust (CICT) has reported gross revenue of $374.1 million for the 3QFY2022 ended September, a 13.7% y-o-y increase.
Net property income (NPI) for the period also increased 12.7% y-o-y to $273.3 million. The increase was contributed by new acquisitions and higher revenue on gross turnover, and partially offset by a rise in utilities expenses.
