But in Q1, shopper traffic declined by 0.5%
Compared to last quarter, there are fewer shoppers who flocked CapitaLand Mall Trust's malls in Q2.
According to UOB Kay Hian analyst Vikrant Pandey, shopper traffic had declined by 0.5% in Q1. However, for the first half of the year, shopper traffic went up by 0.4% YoY to 175 million.
Meanwhile, the tenants' sales per month remained unchanged compared to last year's $85 psf/month.
The analyst also noted that the trust's portfolio-wide occupancy remained stable at 98.6%. To recall, CapitaLand Mall Trust's gross revenue fell 1.3% whilst its net property income grew 1.2%.
Note: An earlier version of this article reflected fewer shoppers in Q2, as stated by a report from UOB Kay Hian. The brokerage firm has sent an updated version of the report to note that the 0.5% decline was actually for Q1.
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