Photo from CLCT

Retail recovery drives 1.2% YoY increase in CLCT's net property income in 9M23

In 9M23, the REIT recorded a net property income of RMB316.4m ($59.8m).

CapitaLand China Trust (CLCT) recorded a 1.2% YoY higher revenue of 316.4m yuan in the first nine months of the financial year 2023 (9M23).

In Singapore dollars, however, the REIT's net income fell by 8.4% YoY to $58.9m from $64.3m in 3Q22.

The REIT attributed the decline to the 10.5% YoY depreciation of RMB to SGD.

In the same period, the REIT recorded a 93.1% portfolio occupancy and a 30.2% YoY improvement in tenant sales.

The REIT's retail portfolio likewise saw a 33.0% growth in shopper traffic in 9M23.


 

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

Singapore’s new law weaves safety net for gig workers
Gig workers will be enabled to secure their retirement, benefit from improved workplace safety, and gain greater visibility within the industry.
HR & Education
Here’s how Gen Z consumer preference reshapes APAC’s marketing landscape
Gen Z consumers are observed to purchase based on pleasure and purpose, whilst being conscious of cost and convenience.

Event News

Event News

SBR National Business Awards 2024 Winner: Wiseasy Technology Pte Ltd Cards & Payments
Lay Cheng Tan, Co-Founder & Chief Investment Officer, and Mayank Raheja, Managing Director (EMEA & SA) of Wiseasy Technology Pte Ltd, provided insights into preventing fraud and inefficiency with the WiseQ QR Payment Solution.
Cards & Payments SBR National Business Awards 2024 Winner: Wiseasy Technology Pte Ltd
Lay Cheng Tan, Co-Founder & Chief Investment Officer, and Mayank Raheja, Managing Director (EMEA & SA) of Wiseasy Technology Pte Ltd, provided insights into preventing fraud and inefficiency with the WiseQ QR Payment Solution.