- CapitaLand Integrated Commercial Trust (SGX:C38U) provides a resilient 2025 distribution yield of 5.1%. Maintain BUY. Target price: S$2.29.
- CapitaLand Integrated Commercial Trust continues to enhance its retail malls with the latest initiative being the repositioning of IMM Building into an outlet mall scheduled for completion in 3Q25. Management expects its Grade A office buildings to sustain high single-digit rental reversion.
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Enhancing IMM Building.
- CapitaLand Integrated Commercial Trust has commenced asset enhancement initiatives (AEI) for 126,000sf of retail space at Level 1 of IMM Building to strengthen its outlet offerings, having already added a Fila Kids Outlet and Anta Kids Outlet in 1Q24. It will also right-size the supermarket's footprint, refresh common areas and upgrade mall amenities.
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- IMM Building will remain operational during the AEI, which will be carried out over four phases. Upon completion in 3Q25, IMM will be the largest outlet mall in Singapore with 110 outlet stores. Management targets to achieve ROI of 8% for the capex of S$48m.
The office market remains resilient
- Read more at SGinvestors.io.
