CapitaLand Integrated Commercial Trust (C38U) said on Jan, 14 2026 that its trustee has agreed to sell 90 out of 91 strata lots in Bukit Panjang Plaza for 428.0 million Singapore dollars in cash to an unrelated third party.

The consideration was agreed on a willing-buyer willing-seller basis and compares with an independent valuation of 389.0 million Singapore dollars for the property as at Dec, 31 2025, conducted by Cushman & Wakefield VHS using income capitalisation and discounted cash-flow methods.

After deducting expenses, including a 2.1 million Singapore dollars divestment fee to the manager, net proceeds are expected to be about 421.2 million Singapore dollars. The trust plans to use the funds to repay debt, finance capital expenditure or asset enhancement initiatives, and for general corporate purposes.

Assuming the entire amount is applied to debt reduction, CapitaLand Integrated Commercial Trust’s pro-forma aggregate leverage would fall to roughly 38.2% from 39.2% as at Sep, 30 2025.

The transaction, which is classified as a non-disclosable transaction under SGX Listing Manual rules, is expected to complete in the first quarter of 2026 and is not expected to materially affect the trust’s net asset value per unit or distribution per unit for the year ending Dec, 31 2026.