CapitaLand Integrated Commercial Trust (CICT) has announced its business updates for the third quarter of 2025, revealing a modest increase in gross revenue and net property income. For the year-to-date ending 30 September 2025, CICT’s gross revenue rose by 0.1% year-on-year to S$1,191.6m, whilst net property income grew by 0.2% to S$874.2m. The trust’s portfolio committed occupancy reached 97.2%, with retail and office occupancies at 98.7% and 96.2%, respectively.
The retail sector showed robust performance, with a 7.8% rent reversion and a 19.2% year-on-year increase in tenant sales per square foot, largely attributed to ION Orchard’s contribution. Excluding ION Orchard, tenant sales still saw a 1.0% rise. Shopper traffic also increased by 24.8% year-on-year, with a 4.5% rise excluding ION Orchard. The office portfolio experienced a 6.5% rent reversion, with new and renewed leases totalling 618,000 square feet.
CICT completed the acquisition of a 55% interest in CapitaSpring’s office component for S$1,045.0m in August, marking the beginning of income contribution on a full basis. Asset enhancement initiatives are underway at several properties, including Tampines Mall and Raffles City Tower, expected to enhance asset value and tenant experience.
Financially, CICT maintains a healthy position with an aggregate leverage of 39.2% and a reduced average cost of debt at 3.3%. The trust issued S$300m in 7-year fixed rate notes at 2.25% per annum, due in September 2032, further strengthening its capital management strategy.
