CapitaLand Investment (CLI) announced a 7% year-on-year growth in total revenue for the nine months ended September 30, 2025, reaching $1.568 billion in its 3QFY2025 business update.

The fee-related revenue (FRR) segment saw an increase to $882 million, driven by higher event-driven fees from listed funds and contributions from new funds. In contrast, real estate investment revenue decreased by 12% year-on-year to $753 million, attributed to the deconsolidation of CapitaLand Ascott Trust (CLAS) and divested assets.

During the first nine months of 2025, CLI raised $3.7 billion in equity through both listed and private funds. Private funds achieved a substantial increase in fundraising, reaching $2.1 billion, a 31% year-on-year rise, with ongoing progress in the 2nd and 3rd series including Ascott Lodging II, Asia Credit II, and India Logistics.

Listed funds accumulated $1.6 billion in total equity, supporting strategic acquisitions and debt repayments.

The lodging management FRR showed a 5% year-on-year growth to $259 million as of September, signing 13,500 units across 64 properties year-to-date. In Europe alone, seven new properties were signed, with several openings completed, including lyf Gambetta Paris.

The lodging management business reported a 2% year-on-year increase in revenue per available unit (RevPAU), driven by higher occupancy rates and average daily rates.

Commercial management FRR saw a modest increase to $282 million.

As of the end of September, CLI maintained $6.4 billion in debt headroom, with a net debt-to-equity ratio of 0.43 times. The group's interest coverage ratio stands at 3.8 times, with an average debt maturity of 3.2 years.

In September, the successful listing of CapitaLand Commercial C-REIT (CLCR) was marked by its opening at RMB6.84, which is 20% above its IPO price, raising total equity of RMB2.3 billion, a 7% increase from the initial estimate.

Shares in CLI remained unchanged, closing at $2.65 on November 6.