By Kimberley Kao
CapitaLand Integrated Commercial Trust is set to announce its 2023 full-year results on Tuesday. Here are the key details:
Net Property Income Forecast
According to a Factset poll of analysts, CapitaLand Integrated Commercial Trust is expected to report a 5.9% increase in net property income to 1.11 billion Singapore dollars (US$827 million) in 2023. In the first nine months of the year, net property income saw a 6.8% year-on-year growth, reaching S$827.3 million.
Revenue Forecast
Factset estimates that revenue is likely to have grown by 6.1% compared to the previous year, reaching S$1.53 billion. During the first nine months, gross revenue experienced a 9.8% year-on-year increase, amounting to S$1.17 billion.
What to Watch
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Retail Rental Reversions: Pay close attention to the outlook for retail rental reversions. In the first nine months of 2023, retail rental reversions saw a positive growth of 7.8% year-on-year, while office rental reversions increased by 8.8%.
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Operating Expenses: The REIT mentioned higher operating expenses as a factor impacting net property income in the third quarter of 2023.
