On back of its well-placed shopping malls.
The firm finds itself in a cozy shelter in the midst of China’s slower growth, as CapitaLand Retail China Trust’s (CRCT) family-oriented malls drove its bottomline, benefitting from the country’s growing urban population and rising retail sales.
According to a press release by CRCT, its distributable income also grew by 6.5% to $21.8m in Q4, while its distribution per unit (DPU) also increased by 7.9% to 10.60 cents.
Additionally, the press release said CRCT’s gross revenue crossed the RMB1b mark for the first time in 2015, while portfolio occupancy remained high at 95.1%.
“China’s slower growth is reflective of an economy undergoing transition, but it is expanding from a much larger base now and its growth is still considerably faster than those of most other economies,” Victor Liew, chairman of CRCTML said. China’s retail sales expanded by 10.7% to RMB30.1 trillion in 2015.
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