Leasing demand mostly came from the finance sector.
CapitaLand Commercial Trust had been on a proactive leasing mode in the past quarter as it signed approximately 201,000 sqft. of leases.
According to UOB Kay Hian analyst Vikrant Pandey, 39% of the said leases were new ones. The leasing demand for the quarter came from diverse business sectors but mostly from banking, insurance and financial services. A robust demand also came from the real estate and property services and legal sectors.
"New and renewed tenants in 2Q17 include AEW Asia Pte Ltd, A.M. Best Asia-Pacific (Singapore) Pte Ltd, Mizuho Asia Partners Pte Ltd and Nagashima Ohno & Tsunematsu Singapore LLP," cited the analyst.
To recall, the trust recorded a 29.5% increase in gross revenue and $34.3% expansion in net property income.
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