OCBC upgrades forecasts on CapitaLand Mall Trust in wake of Funan’s AEI

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OCBC has revised its FY19 and FY20 distribution per unit (DPU) forecasts for CapitaLand Mall Trust (CMT) on news that Funan will open its doors on 28 June.

The property, which recently underwent a SGD560 million asset enhancement initiative (AEI) by the REIT, will be opening two months earlier than planned.

The REIT has also secured a high-level of commitment for Funan’s office, and retail spaces ahead of its opening, with 98% and 92% of leases committed respectively.

Related: CapitaLand Mall Trust achieves 92% commitment for Funan’s retail component

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