CapitaLand Integrated Commercial Trust (CICT) has announced its acquisition of the remaining 55% interest in the commercial component of CapitaSpring for $770 million (S$1,045 million). This strategic move, revealed on 5 August 2025, is set to bolster CICT’s leadership in Singapore’s commercial real estate sector, promising a distribution per unit (DPU) accretion of 1.1%.
CICT’s acquisition is based on an agreed property value of $1,400 million (S$1,900 million). The premium Grade A office tower, located in Raffles Place, is a key asset in Singapore’s Central Business District. The acquisition is expected to enhance CICT’s income, supported by the resilience of Singapore’s office market. The transaction will increase CICT’s Singapore exposure from approximately 94% to 95% of its portfolio property value.
Chairman of CICTML, Teo Swee Lian, emphasised the strategic importance of the acquisition, stating, “CICT’s full ownership of CapitaSpring’s office tower underscores our commitment to long-term value creation.” The acquisition is part of CICT’s broader strategy to pursue opportunities that enhance portfolio value and deliver sustainable returns to unitholders.
In addition to the acquisition, CICT reported a 12.4% increase in distributable income for the first half of 2025, reaching $303 million (S$411.9 million). This growth is attributed to contributions from ION Orchard and improved performance from existing properties. CEO Tan Choon Siang highlighted the Trust’s proactive management, noting, “Our first-half results underscore the strength and resilience of CICT.”
Looking forward, CICT plans to commence new asset enhancement initiatives at Lot One Shoppers’ Mall and Tampines Mall in the fourth quarter of 2025, aiming to unlock further asset potential.
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