CapitaLand Integrated Commercial Trust's first asset in Australia. (Photo: CapitaLand Integrated Commercial Trust)

Mixed commercial REIT CapitaLand Integrated Commercial Trust (CICT) has reported a 13.7% year-on-year rise in its gross revenue for 3Q 2022.

Revenue for the period came in at SGD374.1 million.

Accordingly, the REIT’s net property income of SGD273.3 million for 3Q 2022 represents an increase of 12.7% when compared to the corresponding period of 2021.

The REIT has attributed its performance mainly to income from new acquisitions, though this was partially offset by a rise in utility expenses.

Related: CapitaLand Integrated Commercial Trust sees SGD18 million inflow of institutional funds

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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.