Singapore REITs - Maybank Research 2024-09-09: Accelerating Recycling; Positive Sector Read Through For The Win-Win Accretive Deal

• CapitaLand Integrated Commercial Trust (CICT) will acquire a 50% stake in ION Orchard, a prime retail mall, from sponsor CapitaLand Investment (SGX:9CI). The deal deepens CapitaLand Integrated Commercial Trust’s presence in the city centre, brings in new tenants and is accretive while keeping gearing capped. The recycling will help its sponsor to exceed its annual recycling target and redirect investments.
• - Read this at SGinvestors.io -

Deepening footprint in Orchard Road

• CapitaLand Integrated Commercial Trust announced on 3 Sep it will acquire a 50% stake in ION Orchard for S$1.08b. The purchase will boost CapitaLand Integrated Commercial Trust’s presence in the Orchard Road shopping precinct, bring in new tenants to the portfolio and reinforce CapitaLand Integrated Commercial Trust’s position as a proxy for Singapore commercial real estate.
• - Read this at SGinvestors.io -

Financial merits of the deal

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

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