The turnover of CapitaLand Commercial Trust up 9.8% to $ 194.43 million in the first half of 2018

CapitaLand Commercial Trust (CCT) recorded 9.8% growth in revenue at $ 194.43 million in the first half of 2018 compared to $ 177.02 million in the first half of 2016, an increase of revealed. Its net property income (IPN) rose 11.5 percent year-on-year to $ 154.95 million in the first half of 2018 from $ 138.96 million in the first half of 2017.

At the same time, its net sales amounted to $ 1.5 billion. Gross business grew 12% year-over-year to $ 98.02 million. In addition, CTC's distributable income for the first half of fiscal 2018 increased by 10.8% to $ 156 million, giving a unit distribution (DPU) of $ 0.428 million. On the basis of the annualized closing price of the first half of 2018 and the CCT of $ 1.76 on July 18, 2018, the yield of CCT is 4.9%

"The higher distributable income is mainly due to contributions from Asia Square Tower 2 and CapitaGreen, which compensate for the disposals of One George Street, Wilkie Edge and Golden Shoe Car Park, "said CCT

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As at June 30, 2018, the total value of CTC's investment properties increased by 6.7% to $ 10.6 billion, primarily due to the acquisition of Gallileo and the The company has issued 130 million new shares to facilitate the acquisition of Gallileo in the second quarter of 2018.

Meanwhile, CCT's committed occupancy rate jumped to 97.8% in the first half of 2018, which is It is well above the average market occupancy of 94.1%. The results were mainly credited after the addition of Gallileo.

In terms of leasing, CCT signed approximately 335,000 square feet where 14% were new leases. A new demand for space came from companies in the business consulting sector, information technology, media and telecommunications, financial services and retail products and services

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"The rise in market rents will reduce the gap between committed and expiring rents for its leases that will be renewed in 2018 and 2019", commented CCT.