- CapitaLand Investment (SGX:9CI) reported a marginally lower y-o-y 1H23 revenue of S$1.34bn, due to lower contributions from its real estate investment business (REIB), partly offset by higher lodging management and fee-related business (FRB) revenue.
- - Read this at SGinvestors.io -
- 1H23 Fee-Related Business (FRB) revenue grew 9% y-o-y to S$519m, boosted by strong lodging management fees, offsetting lower event-driven private funds management fees, while listed funds and property management fees remained relatively stable y-o-y.
- The lodging business saw a 17% y-o-y increase in units under management to 162k units at end-1H23, while portfolio RevPAU increased 32% y-o-y, led by strong improvements in North Asia, Singapore and SEA & Australia. 1H23 lodging management fees grew 35% y-o-y to S$159m, with a target to reach S$500m by 2028F.
- - Read this at SGinvestors.io -
- In Aug, CapitaLand Investment announced the establishment of a new fund, CL India Growth Fund 2, mandated to invest in business parks developments in India, and it has also attracted S$986m of new equity into its CL China Opportunistic Partners Programme and another S$150m of new equity injection into its CL Open End Real Estate Fund.
- Read more at SGinvestors.io.
