Rental reversions for CMT came in at 3.7%.
The rental reversions signified a continued moderation for rentals of CapitaLand Mall Trust (CMT), but some bright spots may be found in CMT’s results, according to analysts.
Experts from OCBC said management expects further downward pressure in rents, but CMT remains optimistic of achieving positive rental reversions for 2016, although negative reversions may be recorded for some leases.
“CMT will continue to adjust its tenancy mix and bring fresh retail concepts to its consumers,” OCBC said.
Meanwhile, its portfolio also exhibited positive trends, such as the 4.9% and 5.3% increase in shopper traffic and tenants’ sales psf per month in 2015, respectively.
“Occupancy went up from 96.8% (as at end 3Q15) to 97.6%, as improvement was seen at IMM Building (completion of Phase Two AEI), Bukit Panjang Plaza and JCube,” OCBC said.
“There was also encouraging developments at Clarke Quay, whereby the space previously vacated by LifeBrandz at Block C has now been 94% committed,” OCBC added.
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