CCT’s FY17 In Line; Midterm Growth Driven by Improving Rentals, AST2, and Golden Shoe Redevelopment
CapitaLand Commercial Trust's, or CCT’s, full-year 2017 results were in line with expectations. Net property income increased by 14.8% year over year to SGD 265.5 million on the back of a 13% year-over-year increase on revenue to SGD 337.5 million. Distribution per unit increased by 5% year over year to SGD 0.0866 per unit. The higher net property income was driven by a full-year contribution from its 100% stake in CapitaGreen in 2017, versus only four months of contribution in 2016, and contrib...CapitaCommercial Trust is a commercial real estate investment trust investing in properties predominantly used for commercial purposes. Through its subsidiary, Co. is engaged in the provision of treasury services, including lending to the Trust the proceeds from issuance of notes under an unsecured multicurrency medium term note program. As of Dec 31 2011, Co.'s portfolio comprised of nine properties including three office buildings, one prime office building, three mixed-use properties, one multi-story car park and an ongoing development for a new office tower, all of which are located in Singapore.
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