203 views

CICT’s downtown malls to benefit from return-from-office workers

The recovery of China’s economy will also woo visitors in the malls.

The CapitaLand Integrated Commercial Trust (CICT) will see more benefits for its downtown malls due to office workers and China’s border reopening, UOBKayHian said.

Aside from this, CICT is starting to benefit from Singapore’s stable economy. Its retail properties posted positive rental reversion, which already sped up to 6% in the first quarter of 2023. 

The occupancy of Singapore office enhanced 0.5 percentage points quarter-on-quarter to 96.7% and new leases will also boost cash flow starting the second quarter of this year.

UOBKayHian maintains buy call for CICT, which has a target price of $2.29.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Startup pushes preventive healthcare through digitalised longevity solutions
Mito Health CEO Kenneth Lou believes their personalised platform can address potential future health concerns and extend lifespan.
Healthcare
Budget 2024: 3 tax strategies to offset BEPS 2.0 effects
Should the directive be implemented, selected MNEs will be subject to a global minimum tax of 15%.