CapitaCommercial Trust's distributable income up 3.3% to $64.8m in Q1

Thanks to higher contributions from CapitaGreen, Raffles City.

CapitaCommercial Trust reported that its distributable income rose 3.3% to $64.8 million in the first quarter of the year, boosted by maiden contributions from its 40%-owned CapitaGreen and higher contributions from its 60%-owned Raffles City Singapore.

The group's net property income, however, declined 3.6% to $52 million. The group achieved lower revenue from its wholly-owned property, mainly on back of higher property tax and lower occupancy rate at Capital Tower year-on-year.

CCT’s portfolio reported a committed occupancy rate of 98.1% in the quarter.

CCT declared a distribution per unit (DPU) of 2.19 cents for the quarter, above it DPU of 2.12 cents in the same period last year.