CICT distributable income jumps 16% to $449m in H2

ION Orchard, CapitaSpring acquisitions boosted H2 revenue, property income.

CapitaLand Integrated Commercial Trust (CICT) recorded a distributable income of $449m in the second half (H2) of 2025, a 16.4% increase from the $385.7m reported in the same period of 2024, a press release said.

Distribution per unit (DPU) for the six-month period reached 5.96 cents, up 9.4% year on year. For the full year, total distributable income reached $860.9m, with DPU at 11.58 cents.

Gross revenue for H2 2025 reached $831.5m, whilst net property income rose to $609.9m, driven by contributions from the acquisition of ION Orchard and the remaining 55% interest in the commercial component of CapitaSpring.

Income gains from existing assets and lower interest expenses also supported growth, whilst the divestment of 21 Collyer Quay in November 2024 offset part of these gains, according to the press release.

Total portfolio property value stood at $27.4b as of 31 December 2025. Portfolio occupancy remained at 96.9%, with retail occupancy at 98.7% and office occupancy at 95.7%. Rent reversions for both the retail and office portfolios were 6.6%.

CICT reported aggregate leverage of 38.6% as of 31 December 2025. The average cost of debt stood at 3.2%, down from 3.6% in December 2024. Fixed interest rates covered 74% of total borrowings.

Future capital projects include a $25m asset enhancement at Capital Tower starting in the third quarter of 2026. The trust’s divestment of Bukit Panjang Plaza and the development of the commercial component at the Hougang Central site also highlight ongoing portfolio changes.

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CapitaLand Integrated Commercial Trust

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