Apr, 20 2026 – CapitaLand Integrated Commercial Trust (C38U) said its manager has signed a put-and-call option agreement to divest its entire stake in Asia Square Tower 2 for an agreed property value of 2.476 billion Singapore dollars.

The buyer is IOI Marina View Pte. Ltd., a wholly owned unit of Malaysia-listed IOI Properties Group Berhad. The purchaser will place an option fee of 123.8 million Singapore dollars, equal to 5% of the agreed property value. The estimated sale consideration, after customary adjustments, is 2.4742 billion Singapore dollars.

Net proceeds are expected to be about 2.4501 billion Singapore dollars, generating an estimated net gain of 199.9 million Singapore dollars for the trust. Completion is targeted for the second half of 2026, pending Inland Revenue Authority of Singapore clearance on Additional Conveyance Duty and shareholder approval from IOI Properties Group.

Pro forma calculations show the divestment would lower CapitaLand Integrated Commercial Trust’s aggregate leverage from 38.6% to 32.4% as at Dec, 31 2025, lift net asset value per unit to 2.11 Singapore dollars from 2.09, and trim full-year 2025 distribution per unit slightly to 11.49 cents from 11.58 cents, assuming proceeds are used to repay debt.

The disposal, classified as a discloseable transaction under Singapore Exchange rules, does not require approval from CICT unitholders. Management said funds released will enhance balance-sheet flexibility and may be used for debt repayment, future acquisitions, asset enhancement or general corporate purposes.