206 views
/CICT website

Acquisitions boost CICT’s earnings YoY in Q1

The net property income (NPI) grew to $276.3m.

The CapitaLand Intergrated Commercial Trust (CICT) revealed that its NPI went up 11.3% YoY to $276.3m in the first quarter (Q1) of 2023.

In a financial statement, CICT said its gross revenue grew by 14.4% to $388.5m in Q1 2023.

Its NPI benefitted from full quarter contributions from acquisitions completed in the first half of 2022 and higher fross rental income from its existing properties. But it was “partially offset by higher operating expenses largely due to utilities and divestment of JCube in March 2022.”

The portfolio committed occupancy rate also increased to 96.2% in Q1 2023.

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.