216 views

CICT’s downtown malls to benefit from return-from-office workers

The recovery of China’s economy will also woo visitors in the malls.

The CapitaLand Integrated Commercial Trust (CICT) will see more benefits for its downtown malls due to office workers and China’s border reopening, UOBKayHian said.

Aside from this, CICT is starting to benefit from Singapore’s stable economy. Its retail properties posted positive rental reversion, which already sped up to 6% in the first quarter of 2023. 

The occupancy of Singapore office enhanced 0.5 percentage points quarter-on-quarter to 96.7% and new leases will also boost cash flow starting the second quarter of this year.

UOBKayHian maintains buy call for CICT, which has a target price of $2.29.

Join Singapore Business Review community

Follow the link for more news on

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.