The Atrium at Orchard, a property of CapitaLand Integrated Commercial Trust. (Photo: REITsWeek)

Data from CapitaLand Integrated Commercial Trust’s latest results have been updated into the Singapore REITs table.

Singapore’s largest REIT, CapitaLand Integrated Commercial Trust (CICT), has reported a distribution per unit (DPU) of 8.69 cents for its FY2020, a decrease of 27.4% from 2019.

Its DPU for 4Q 2020 came in at 2.63 cents, and it included the clean-up DPU of 0.89 cents for the period 1 to 20 October 2020 that was paid on 19 November 2020, and a DPU of 1.74 cents for the period 21 October to 31 December 2020.

The REIT’s net property income for 4Q 2020 was SGD191.9 million, up 36.4% year-on-year after including rental waivers from the landlord of about SGD22.4 million.

The increase in net property income was mainly driven by the enlarged portfolio following the completion of the merger with CCT, said the REIT.

As at 31 December 2020, CICT’s aggregate portfolio property value remained stable at SGD22.3 billion, based on independent appraisals of the REIT’s investment properties and share of investment properties held through joint ventures.

Accordingly, adjusted net asset value per unit, after excluding 4Q 2020 distributable income to unitholders, was flat at SGD2.00 compared to pro forma net asset value per unit of SGD2.02 six months ago.

However, the REIT’s leverage has increased significantly to 40.6% from 34.4% in September 2020.

The REIT’s full statement on the results can be viewed here.

CICT was last done on the SGX at, which implies a distribution yield of % according to data compiled on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.