CICT’s NPI up 1.3% YoY in H2 2024

DPU for FY2024 rose 1.2% YoY to $0.1088.

CapitaLand Integrated Commercial Trust (CICT) registered a 6.4% year-on-year (YoY) growth in distributable income to $385.7m in H2 2024 from $362.5m in H2 2023.

This growth was driven by the acquisition of a 50.0% interest in ION Orchard, strong performance in existing operating properties, and management of operating and interest costs.

Despite the divestment of 21 Collyer Quay on 11 November 2024, which partially offset gains during the period, net property income (NPI) rose 1.3% y-o-y to $571.1m.

Distribution per unit (DPU) for the period remained stable at $0.0545, comprising an advanced distribution of $0.0216 from 1 July to 11 September 2024, which was paid on 17 October 2024. For FY 2024, CICT achieved a DPU of $0.1088, up 1.2% YoY.

The record date for the remaining DPU of $0.0329 is set for February, and unitholders can expect to receive it on 21 March.

As of 31 December 2024, CICT’s committed portfolio occupancy stood at 96.7%. Its retail portfolio stood at 99.3% whilst its office and integrated development portfolios rose to 94.8% and 98.9%, respectively.

“In 2025, we remain committed to driving sustainable growth through active portfolio management and disciplined cost and capital management. We will also capitalise on growth opportunities while staying agile and responsive to market changes,” Teo Swee Lian, chairman of CITC’s manager said.

Follow the link for more news on

CapitaLand Integrated Commercial Trust

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.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia