CapitaLand Integrated Commercial Trust (C38U) told investors at Citi’s 31st Annual Global Property CEO Conference on Mar, 02 2026 that its portfolio value rose 5.2% year on year to 27.4 billion Singapore dollars as at Dec, 31 2025, with 94% of assets in Singapore and the remainder in Germany and Australia.

For full-year 2025, net property income increased 3.1% to 1.1897 billion Singapore dollars, while distributable income advanced 14.4% to 860.9 million Singapore dollars. Distribution per unit climbed 6.4% to 11.58 Singapore cents. Aggregate leverage stood at 38.6%, and the average cost of debt eased to 3.2%.

The trust completed the acquisition of the remaining 55% interest in the 73-storey CapitaSpring for 1.045 billion Singapore dollars on Aug, 26 2025 and, in May 2025, divested a 45% stake in the property’s serviced-residence component for 126.0 million Singapore dollars. It has also agreed to sell Bukit Panjang Plaza for 428.0 million Singapore dollars, a deal expected to close in 1Q 2026, which will trim gearing to 37.6%.

CICT secured a government land sale at Hougang Central in Sep 2025 and will develop and fully own a commercial component of about 300,000 square feet of net lettable area at a projected cost of around 1.1 billion Singapore dollars, targeting completion in 2030/2031 and a yield on cost of more than 5%.

Ongoing asset enhancement initiatives include a 24 million Singapore dollars upgrade at Tampines Mall, a 37 million Singapore dollars project at Lot One Shoppers’ Mall, and a 25 million Singapore dollars repositioning of Capital Tower’s ground-level urban plaza.

Portfolio occupancy was 96.9% as at Dec, 31 2025, with a weighted average lease expiry of 3.0 years. Retail rent reversions for 2025 were positive 6.6%, and average office rents in Singapore rose 2.1% year on year to 10.95 Singapore dollars per square foot per month.

Management said it will continue portfolio reconstitution, selective acquisitions and disciplined capital management, noting a debt maturity profile averaging four years and 74% of borrowings on fixed rates.