COMMERCIAL PROPERTY | Staff Reporter, Singapore

CapitaLand Commercial Trust’s income inches up by 2.1% to $254.5m in 2015

On back of higher net property income.

An increased occupancy rate and a stable balance sheet proved to be CapitaLand Commercial Trust’s strengths as it registered a higher distributable income and an estimated distribution per unit (DPU) of 8.62 cents, which is up by 1.9% from the previous year.

According to a press release by CCT, the income growth was due to higher net property income from its wholly owned properties, along with higher distributable income from Raffles City Singapore.

Additionally, CCY says its investment properties, including its JV interests in Raffles City Singapore and CapitaGreen, have been assessed by independent valuers to be worth $7,478.1m as at 31 December 2015.

“This is an increase in fair value of investment properties of S$119.6 million or 1.6% compared to that as at 31 December 2014. The Trust’s adjusted net asset value per unit is $1.73, after deducting the distributable income payable to unitholders,” the statement said.

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