CLI sees improvement across its 3 growth drivers in Q3

The company was able to unlock capital with gross divestments of S$2.4b.

CapitaLand Investment (CLI) said its three growth drivers –- fund management, lodging management, and capital management –- all saw improvement in Q3.

In a bourse filing, CLI said its funds under management (FUM) remained steady at $86b. As of 3 November, the company said its total investments from listed and private funds have reached $1.9b and $1.7b, respectively.

On lodging management (LM), CLI said its revenue per available unit (RevPAU) rose 43% YoY to $110 in Q3.

CLI also unlocked capital during the period as its gross divestments reached $2.4b as of 3 November. Meanwhile, CLI's cash balance and undrawn facilities were at $7.2b.

Looking ahead, CLI said it will continue to “exercise patience and prudence in its investments and new business development” amidst global economic uncertainty.

“CLI’s business is anchored by a high-quality global real estate portfolio that generates healthy recurring rentals, as well as fund and lodging management platforms that produce stable fee income. We remain focused on creating value in our properties through asset enhancements and redevelopment and will continue to build our fee-related income from fund management and lodging,” the company added.

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