CapitaLand Retail China Trust's Rock Square. (Photo: CapitaLand Retail China Trust)

Data from CapitaLand China Trust’s latest disclosure has been incorporated into the Singapore REITs table.

CapitaLand China Trust (CLCT) has reported an 81% increase in net property income (NPI) for its 9M 2021, which came in at RMB903.4 million.

This is the highest 9M NPI reported by the REIT since its listing.

The increase has come amid improved occupancy at its retail and business park properties.

Sales and traffic at the REIT’s retail assets also improved by 27.3% and 22.6% year-on-year for 9M 2021.

CLCT’s gearing for the quarter ended 30 September increased to 36.4% from 35.9% in the previous quarter.

Accordingly, the REIT’s cost of debt has also increased slightly to 2.59% from 2.57% over the same period.

CLCT was last done on the SGX at SGD1.23, which presently implies a distribution yield of 6.88% according to data on the Singapore REITs table.

By Shariffa Al-Habshee

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