CapitaCommercial Trust’s net property income up 3.6% to $53.9m in Q2

Thanks to higher occupancy in its portfolio.

CapitaCommercial Trust reported that its net property income grew 3.6% to $53.9m in the second quarter.

The growth was driven by higher occupancy in its portfolio, particularly in CapitaGreen.

The trust reported that aggregate committed occupancy at CapitaGreen rose to 80.4% as at the end of June. Half the space is leased to tenants who have relocated to CapitaGreen from other office buildings to meet expansion needs, while 6% is taken up by newly established entities or concepts in Singapore.

CCT’s monthly average office portfolio gross rent also grew 1.1% over the quarter from $8.78 per square foot in Q1 to $8.88 per square foot in Q2.