Raffles City Singapore, a property of CapitaLand Integrated Commercial Trust. (Photo: REITsWeek)Raffles City Singapore, a property of CapitaLand Integrated Commercial Trust. (Photo: REITsWeek)

Data from CapitaLand Integrated Commercial Trust's latest disclosure has been incorporated into the Singapore REITs table.

CapitaLand Integrated Commercial Trust (CICT) has doubled its revenue for the first nine months of 2021 compared to the corresponding period of 2020, even as its portfolio occupancy slips.

The REIT reported on 22 October that it has achieved a gross revenue and net property income of SGD974.7 million (USD722 million) and SGD714.8 million respectively.

Both figures are approximately a two-fod increase from the SGD468.7 million and SGD320.8 million reported in the first nine months of 2020.

The REIT has attributed its performance mainly to its enlarged portfolio resulting from the merger with CapitaLand Commercial Trust (CCT) and contribution from Raffles City Singapore.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.