CapitaLand Integrated Commercial Trust · SGX:C38U
CapitaLand Integrated Commercial Trust — FY2021 Earnings Presentation
75 slides from CapitaLand Integrated Commercial Trust's earnings presentation, Jan 28, 2022
Slide 1: FY 2021 Financial Results
CapitaLand Integrated Commercial Trust FY 2021 Financial Results 28 January 2022
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors incl
Slide 3: Table of Content
Table of Content 04 40 Highlights Creating Value 13 49 Financial Strategy and Performance Outlook 21 53 Portfolio Market Performance Information 25 69 Performance Additional By Asset Type Information Funan, Singapore Capi t aLand I nt egr at ed Com m er c i al Tr us t 3
Slide 4: Highlights
Highlights Asia Square Tower 2, Singapore
Slide 5: Achieved 2H 2021 DPU of 5.22 cents
Achieved 2H 2021 DPU of 5.22 cents An advanced distribution of 4.85 cents for the period from 1 Jul to 15 Dec 2021 paid on 28 Jan 2022 Distributable Income (S$ million) (2) FY 2021 338.8 335.9 Distributable Income S$674.7 (1) million 1H 2021 2H 2021 DPU (cents) FY 2021 5.18 5.22 0.37 Distribution fo
Slide 6: Portfolio and Operational Highlights
Portfolio and Operational Highlights(1) Portfolio Portfolio Net Portfolio Committed Lettable 9.6 Portfolio 3.2 Property S$22.5 Occupancy 93.9% Area(2) million sq ft WALE(3) years Value(4) billion Suburban Mall Portfolio ▲13.4% FY 2021 Tenants’ Sales(5) ▲12.2% Downtown Mall ▲2.6% Q-o-Q On quantum bas
Slide 7: Valuation Increased to S$22.5 Billion as at Dec 2021
Valuation Increased to S$22.5 Billion as at 31 Dec 2021 Largely contributed by office and integrated developments, including completion of CapitaSpring, driven by improving market conditions S$22.5 billion(1) 3.5% S$21.8 billion(1) Value as at 31 Dec 2021 Value as at 31 Dec 2020 Valuation Valuation
Slide 8: Portfolio Property Value by Geography and Asset Type
Portfolio Property Value(1) by Geography and Asset Type Germany, 4.0% Office, Retail, 36.8% 32.9% S$22.5 billion Integrated Development, 30.3% Singapore, 96.0% Note: (1) Portfolio property value as at 31 December 2021. Includes Gallileo and Main Airport Center (94.9% interest respectively) and Capit
Slide 9: CapitaSpring Achieves TOP in November 2021
CapitaSpring Achieves TOP in November 2021; Secures Strong Leasing Commitment of 91.5%(1) Updates Newly opened and upcoming retail offerings • Committed leases to contribute Upcoming openings in 1Q 2022 income progressively from 1H • %Arabica 2022, and more meaningfully from • Re.juve 2H 2022 • Lati
Slide 10: Rejuvenating Retail and Lifestyle Offerings at Downtown Properties
Rejuvenating Retail and Lifestyle Offerings at Downtown Properties RAFFLES CITY SINGAPORE CLARKE QUAY FUNAN Home to flagships of established international brands Refreshing F&B offering Enriching experiences in fashion, beauty and lifestyle Asset enhancement commenced in January 2022 to reconfigure
Slide 11: Reconstituting Portfolio to be Better Positioned for Growth
Reconstituting Portfolio to be Better Positioned for Growth Singapore remains key focus; while expansion into Australia offers another engine of growth and diversified income base ►01 Divestment ►04 Proposed Acquisitions in Sydney, Australia Divested 50.0% • Two Grade A office buildings and 50.0% in
Slide 12: Unlocking Value from the Divestment of JCube
Unlocking Value from the Divestment of JCube CICT has done various initiatives to enhance the value of the property over the Sale of JCube years for S$340.0m at NPI yield of <4% In line with the Manager’s portfolio reconstitution strategy to unlock value Value through divestment unlocked; proceeds t
Slide 13: Financial Performance
Financial Performance CapitaSpring, Singapore
Slide 14: Uplift in 2H 2021 Results Due to Enlarged Portfolio
Uplift in 2H 2021 Results Due to Enlarged Portfolio and 100% Contribution from RCS Gross 2H 2021 2H 2020 Net Property 2H 2021 2H 2020 (1) (2) Revenue S$659.4M S$426.8M Income S$478.9M S$296.4M Retail Asset Performance Office Asset Performance(3) Integrated Development (S$ m) (S$ m) Performance(4) (S
Slide 15: FY 2021 Results Underpinned by Enlarged Portfolio
FY 2021 Results Underpinned by Enlarged Portfolio and 100% Contribution from RCS FY 2021 FY 2020 Net Property FY 2021 FY 2020 Gross (1) (2) Revenue S$1,305.1M S$745.2M Income S$951.1M S$512.7M Retail Asset Performance Office Asset Performance(3) Integrated Development (S$ m) (S$ m) Performance(4) (S
Slide 16: Diversified Revenue Streams Provides Stability
Diversified Revenue Streams Provides Stability Singapore Germany Office, Hotels & 4.3% Convention Centre, 5.7% Singapore (2) Singapore Office, 6.4% Suburban Retail, 32.2% S$1,305.1 Singapore CBD Office, 25.4% million(1) Singapore Downtown Retail, 26.0% Notes: (1) Based on FY 2021 gross revenue and e
Slide 17: Healthy Balance Sheet
Healthy Balance Sheet As at 31 December 2021 S$’000 Non-current Assets 21,979,809 Net Asset Value/Unit S$2.06(1) Current Assets 762,041 Adjusted Net Asset Value/Unit S$2.06(1) 22,741,850 (excluding distributable income(2)) Total Assets Current Liabilities 1,258,809 Non-current Liabilities 7,787,341
Slide 18: Well-diversified Sources of Funding as at Dec 2021
Well-diversified Sources of Funding as at 31 Dec 2021 Facilities in place to refinance debt due 2022(1) S$ million 17% Funding sources as at 31 Dec 2021(2) 1,600 17% 1,491 1,435 15% 1,400 MTN 59% 1,311 13% 1,200 Unsecured Bank 1,099 11% 31% Loans 870 991 1,000 900 Secured Bank 265 10% 832 8% Loans 2
Slide 19: Proactive Capital Management
Proactive Capital Management As at As at 31 December 2021 30 September 2021 Total Borrowings (S$ billion) 8.6 9.5 Aggregate Leverage(1,2) 37.2%(3) 40.9% % of Borrowings on Fixed Interest Rate 83% 84% % of Total Assets that are Unencumbered 96.1% 95.7% Net Debt / EBITDA(4) 9.5x N.M.(5) Interest Cover
Slide 20: Distribution Details
Distribution Details Of the 2H 2021 DPU of 5.22 cents, an advanced distribution of 4.85 cents for the period from 1 Jul to 15 Dec 2021 pursuant to the private placement in Dec 2021 is paid on 28 January 2022. Details of the remaining DPU of 0.37 cents are as follows. Distribution Period 16 December
Slide 21: Portfolio Performance
Portfolio Raffles City Singapore, Singapore Performance
Slide 22: Portfolio WALE Stable at 3.2 years
Portfolio WALE(1)(2) Stable at 3.2 years 18.3% 15.9% 14.2% 9.6% 9.0% 8.4% 5.2% 5.2% 4.7% 3.3% 2.8% 2.6% 0.8% (3) (4) 2022 2023 2024 2025 2026 2027 and beyond Retail Office Hospitality Notes: (1) Weighted average lease expiry (WALE) based on monthly gross rental income as at 31 December 2021 and excl
Slide 23: No Single Tenant Contributes More Than 5% of Gross Rental Income
No Single Tenant Contributes More Than 5% of CICT’s Total Gross Rental Income(1) % of Total Ranking Top 10 Tenants for December 2021 Trade Sector Gross Rent 1 RC Hotel (Pte) Ltd 4.9 Hotel 2 WeWork Singapore Pte. Ltd.(2) 2.8 Real Estate and Property Services Supermarket / Beauty & Health / Services /
Slide 24: Diversified Tenants' Business Trade Mix
Diversified Tenants’ Business Trade Mix IT, Media and Telecommunications Travel and Hospitality 3.8% Other Retail and Product Trades 5.0% Gifts & Souvenirs / Toy & Hobbies / Real Estate and Books & Stationery / Sporting Property Services, Other Retail and Product goods 2.8% Trades Supermarket 2.7% 6
Slide 25: Performance by Asset Type
Performance by Asset Type Note: The retail and office asset information included the respective retail and office components of integrated developments IMM Building, Singapore unless stated otherwise, in order to show the operating metrics and trends.
Slide 26: Retail Performance Overview
Retail Performance Overview Compared Against FY 2019 Compared Against FY 2020 4Q 2021 New Retail Offerings and Expansion Monthly Average Monthly Average by NLA Retail FY 2021 Tenants’ Sales psf Occupancy(1) Large majority are new-to-market or new-to-portfolio Recovered to Recovered to 96.8% 87.8% 99
Slide 27: Driving Occupancy Through Active Asset Management and Proactive Leasing
Driving Occupancy Through Active Asset Management and Proactive Leasing Strategy Occupancies improving and above URA’s Singapore retail occupancy rate of 91.9% (2) Occupancy (%) 100 100 100 100 99.8 100 98.7 99.1 99.7 99.8 97.3 99.2 98.9 99.2 96.8 98.5 98.1 97.3 95.4 94.1 95.5 97.3 97.5 91.5 92.1 92
Slide 28: Rental Reversion Decline Rate Continued to Ease
Rental Reversion Decline Rate Continued to Ease From 1 January to 31 December 2021 (Excluding Newly Created and Reconfigured Units) (1) Net Lettable Area Change in Incoming Year 1 Rents vs No. of Renewals / Retention Rate Properties Percentage of Outgoing Final Rents (typically New Leases (%) Area (
Slide 29: Proactive Leasing Strategy to Manage Tenant Mix and Mall Positioning
Proactive Leasing Strategy to Manage Tenant Mix and Mall Positioning Retail Portfolio WALE(1) : 1.9 years 32.0% 27.7% 25.0% 9.0% 4.9% 1.4% 2022 2023 2024 2025 2026 2027 and beyond Gross Rental Income Note: (1) Based on gross rental income of committed leases in retail properties and retail component
Slide 30: Tenants' Sales and Shopper Traffic On Par with 2020 Level
FY 2021 Average Monthly Tenants’ Sales psf(1) and Shopper Traffic On Par with 2020 Level Recovery levels for tenants’ sales and shopper traffic at CICT retail portfolio vs average for 2019 Recovery Progress Start of Stabilisation End of 150% Phase Stabilisation Periods of Comparison: Suburban Start
Slide 31: Most Trade Categories Registered Y-o-Y Improvement in Tenants' Sales
Most Trade Categories Registered an Y-o-Y Improvement for FY 2021 Tenants’ Sales Total tenants’ sales increased 12.2% Y-o-Y FY 2021 Tenants’ Sales(1) Y-o-Y Performance by Trade Categories 23.9% 7.8% 6.9% 5.7% 4.0% 3.6% 2.8% 0.6% 0.4% -4.8% -6.5% -7.7% -8.5% -12.1% -26.4% Services (2) (3) Fashion Sho
Slide 32: Office Performance Overview
Office Performance Overview Singapore and Germany office assets Increase in leasing enquiries for expansion and Office Total New and Renewal Leases (sq ft) new set-up space Q-o-Q(5) Occupancy(1) 256,990 7% 91.5% 4Q 2021 23% 12% as at 31 Dec 2021 (New leases: 70.2%(2)) 13% 38% Singapore office assets
Slide 33: Occupancy Rate of Office Portfolio at 91.5%
Occupancy Rate of Office Portfolio at 91.5% Occupancy for Singapore: Occupancy for Germany: CICT’s office portfolio: 90.4% CICT’s portfolio: 95.8% (4) CBRE SG Core CBD: 93.3% Frankfurt Market: 92.5% (1) Occupancy (%) 97.2 100 100 100 100 95.6 92.4 94.8 95.6 93.4 93.0 93.0 91.5 82.8 79.8 79.7 76.8 As
Slide 34: Gap Between Committed Rents and Expired Rents Expected to Narrow
As Office Market Rents Improve, Gap Between Committed Rents and Expired Rents is Expected to Narrow Market Rents of Average Expired Committed Comparative Sub-Market (S$ psf) Building Rents Rents in 4Q 2021 Sub-Market Cushman & (S$ psf/month) (S$ psf/month) (1) Knight Frank(2) Wakefield CapitaGreen 1
Slide 35: Proactively Manage Lease Expiry For Stability Through Market Cycles
Proactively Manage Lease Expiry For Stability Through Market Cycles Office Portfolio WALE(1): 3.2 years 27.7% 25.3% 23.7% 20.2% 13.7% 20.7% 11.6% 18.4% 23.6% 9.1% 21.7% 8.7% 7.8% 6.9% (2) (3) 2022 2023 2024 2025 2026 2027 and beyond Renewals Completed in Jan 2022 and Leases Under Negotiation Monthly
Slide 36: Tenants' Space Requirements
Balancing Occupancy and Rental Rate While Managing Tenants’ Space Requirements 4Q 2021 Grade A office market rent at S$10.80 psf per month(1) 2022 Average rent of leases expiring is S$9.09 psf (2) 20% 16 Period 1H 2022 2H 2022 Monthly Monthly % of Rental Rates % of Rental Rates 15% $12.01 12 Buildin
Slide 37: Continue to Proactively Manage Lease Renewals
Continue to Proactively Manage Lease Renewals 2023 2024 (1) (1) Average rent of leases expiring is S$11.07 psf Average rent of leases expiring is S$10.41 psf 20% 20% 11.96 11.36 11.54 15% 11.09 10.75 15% 10.79 8.52 8.77 10% 10% 4.6% 4.5% 4.6% 5% 3.8% 5% 3.9% 2.2% 2.1% 0.2% 0% 0% Asia Square Tower 2
Slide 38: Occupancy Rate of Integrated Developments at 96.0%
Occupancy Rate of Integrated Developments at 96.0% Occupancy (%) 98.1 99.1 97.7 97.3 93.4 94.4 91.5 Retail: 95.4 Retail: 98.5 Retail: 96.2 Retail: 91.5 Office: 93.4 Retail: 96.8 Office: 100 Retail: 96.8 Office: 100 Office: 95.6 Office: 100 Office: 100 Raffles City Singapore Funan Plaza Singapura & T
Slide 39: Addition of CapitaSpring's Leases Contributed to Stable WALE
Addition of CapitaSpring’s Leases Contributed to Stable WALE Q-o-Q Integrated Development Portfolio WALE(1) : 5.0 years 21.4% 15.2% 13.9% 10.6% 10.7% 7.7% 5.0% 4.3% 3.3% 4.1% 1.6% 1.7% 0.5% 2022 2023 2024 2025 2026 2027 and beyond Retail Office Hospitality Note: (1) Based on gross rental income as a
Slide 40: Creating Value
Creating Value Funan, Singapore
Slide 41: Building a Community for Work, Live and Play at CapitaSpring
Building a Community for Work, Live and Play at CapitaSpring Harmonising architecture, technology and nature at work with core and flex office solutions City Room, a 18-metre-high public atrium suitable for placemaking initiatives Secure bike parking with end-of-trip facilities Seamless access with
Slide 42: AEI Works at 21 Collyer Quay Achieved TOP; Six Battery Road to Achieve TOP
AEI Works at 21 Collyer Quay Achieved TOP; Six Battery Road to Achieve TOP in 1Q 2022 Six Battery Road 21 Collyer Quay ✓ Most of the ✓ TOP obtained on area in level 1 1 October 2021 podium obtained TOP ✓ WeWork’s 7-year lease(1) commenced ✓ Committed in December 2021 retail units to Render from WeWo
Slide 43: Improving Connectivity to Funan for Shoppers and Working Executives
Improving Connectivity to Funan for Shoppers and Working Executives 100-metre underground pedestrian link opened in December 2021 directly linking Basement 2 to the City Hall MRT interchange station, facilitating traffic flow to and fro Funan especially during the festive period which saw higher sho
Slide 44: Connecting with Shoppers and Community at our Malls
Connecting with Shoppers and Community at our Malls Hot Toys Summer Never Ends SG Showcase at A Jolly Molly Christmas with CapitaLand x POP Mart Funan CapitaLand in collaboration with POP Mart celebrated Hot Toys hosted its Summer Fiesta with Funan as Molly Southeast Asia’s biggest 15th anniversary
Slide 45: Exciting Shoppers with New Retail Offerings 4Q 2021
Exciting Shoppers with New Retail Offerings 4Q 2021 F&B Services Beauty & Health Jewellery & Watches Bath & Body Works at Plaza Shake Shack at Westgate Photomania at Bugis+ Singapura Garmin at Westgate F&B Toys & Hobbies Beauty & Health Fashion The Cosmetics Company Store at Läderach at Westgate Hak
Slide 46: Supporting Tenants via Loyalty Programme and Omnichannel Strategy
Supporting Tenants via Loyalty Programme and Omnichannel Strategy Membership Loyalty Program >1.2M >3.5M 15%(1) >3,000 Awarded Excellence in Loyalty Marketing CapitaStar Monthly Customer Retailers (Bronze) by Marketing Members App Views Onboard Excellence Awards 2021 Stickiness ✓ Driving Better Expe
Slide 47: Ongoing Commitment to ESG
Ongoing Commitment to ESG ESG Ratings • Rated overall Low Risk by Sustainalytics • Rated A by MSCI Launched Fraud, Bribery & Corruption awareness online training completed by almost 100% of employees All suppliers with new or renewal contracts in 2021 have signed CapitaLand’s Supply Chain Code of Co
Slide 48: Fostering a Caring and Inclusive Community
Fostering a Caring and Inclusive Community Essential packs handed to close to 2,900 seniors in partnership with 7 local charities across Singapore from 16 to 20 Nov 2021 More than 310 staff and 25 tenant companies community volunteers from volunteered CapitaLand volunteered Capi t aLand I nt egr at
Slide 49: Strategy and Outlook
Strategy and Outlook Capital Tower, Singapore
Slide 50: CICT's Value Creation Strategy
CICT’s Value Creation Strategy To deliver stable distributions and sustainable returns to unitholders • Investing through property market cycles in Singapore, Germany and • Undertaking appropriate divestment of other developed markets assets that have reached their optimal life cycle Portfolio • Gui
Slide 51: Strengthening Operations to Tap on Broadly Positive Economy and Market Outlook
Strengthening Operations to Tap on Broadly Positive Economy and Market Outlook Positive Economic Outlook • 2021 GDP growth was 7.2% year-on-year based on advance estimates(1) in Singapore • 2022 GDP growth expected between 3.0% and 5.0%(1) • Overall unemployment rate declined 2.6% in Oct 2021 to 2.5
Slide 52: CICT's Investment Merits
CICT’s Investment Merits Largest proxy for Singapore’s commercial real estate market with proven track record Well-diversified quality portfolio in strategic locations that offers resilience and stability through market cycles Ability to tap on opportunities in Singapore and other developed markets
Slide 53: Market Information
Market Information Gallileo, Frankfurt, Germany
Slide 54: Singapore's Private Retail Floor Space Per Capita Significantly Lower
Singapore's Private Retail Floor Space Per Capita (FSPC) Significantly Lower Than Most Developed Cities Singapore’s Retail FSPC increased from 8.6 sq ft NLA per capita in 2020 to 9.1 sq ft NLA per capita in 2021 due to population contraction Shopping Centre Floorspace Per Capita (sq ft) London 17.4
Slide 55: CICT Market Share
CICT Market Share Largest owner of private retail stock in Singapore(1) CICT, 9.2% Mercatus, 4.4% Frasers Centrepoint Trust, 4.1% Far East Organization, 3.5% Lendlease, 2.6% Mapletree Commercial Trust, 2.4% Changi Airport Group, 2.1% Others/Unknown, 65.9% United Industrial Corporation Limited, 2.1%
Slide 56: Limited Retail Supply Between 2022 and 2024
Limited Retail Supply Between 2022 and 2024 Total retail supply in Singapore averages approximately 0.4 million sq ft (2022 - 2024), lower than: ― Last 3-year historical annual average supply (2019 - 2021) of 0.5 million sq ft ― Last 5-year historical annual average supply (2017 - 2021) of 0.8 milli
Slide 57: Known Future Retail Supply in Singapore (2022 – 2024)
Known Future Retail Supply in Singapore (2022 – 2024) Expected Completion Proposed Retail Projects Location NLA (sq ft) 2022 Grantral Mall @ Macpherson (Citimac A&A) Macpherson Road 67,500 2022 Boulevard 88 Cuscaden Road/Orchard Boulevard 32,000 2022 Shaw Plaza Balestier(A/A) Balestier Road 67,500 2
Slide 58: Suburban Rents Rose by 0.5% While Orchard Rents Stabilised
Suburban Rents Rose by 0.5% While Orchard Rents Stabilised Q-o-Q in 4Q 2021 15.0% $40.00 $35.00 10.0% $30.00 5.0% $25.00 0.0% $20.00 (1) Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011 Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1
Slide 59: Singapore Retail Sales Performance
Singapore Retail Sales Performance Positive year-on-year retail sales growth since Sep 2021 (S$ billion) 4.0 30.0% 26.2% 3.5 3.5 3.6 25.0% 3.0 3.2 3.3 3.1 3.1 2.8 2.9 2.8 2.9 2.8 2.8 2.9 2.9 2.9 20.0% 2.5 2.8 21.0% 2.8 2.7 18.0% 2.6 20.0% 2.7 19.3% 16.3% 17.6% 2.0 2.3 18.4% 16.4% 15.0% 16.2% 2.0 16.
Slide 60: Singapore Office Stock as at end-4Q 2021
Singapore Office Stock as at end-4Q 2021 Island-wide office stock Singapore Stock % of Grade A office Decentralised, (sq ft) total Core CBD 23.3% stock Core CBD 32.0 mil 51.5% 14.8 mil sq ft (46.2% of Core Core CBD, CBD stock) 51.5% Fringe CBD 15.7 mil 25.3% Decentralised 14.5 mil 23.3% Fringe CBD,
Slide 61: Annual New Supply Averages 0.8 Mil Sq Ft Over 4 Years
Annual New Supply Averages 0.8 Mil Sq Ft Over 4 Years; CBD Core Occupancy at 93.3% as at end-2021 Singapore Private Office Space (Central Area)(1) – Net Demand & Supply 2.5 2.2 Forecast average annual gross new supply 1.9 1.9 (2022 to 2025): 0.8 mil sq ft 2.0 1.8 1.6 1.6 1.7 1.5 1.4 1.3 sq ft millio
Slide 62: Known Future Office Supply in Central Area (2022 – 2024)
Known Future Office Supply in Central Area (2022 – 2024) No commercial sites on Government Land Sales Confirmed List (13 Jan 2022); Two white sites (2) on reserve list, namely Kampong Bugis and Woodlands Ave 2 (Fringe Area) Expected Completion Proposed Office Projects Location NLA (sq ft) 2022 Hub S
Slide 63: Grade A Office Rent Rose for Two Consecutive Quarters
Grade A Office Rent Rose for Two Consecutive Quarters 1Q 19 2Q 19 3Q 19 4Q 19 1Q 20 2Q 20 3Q 20 4Q 20 1Q 21 2Q 21 3Q 21 4Q 21 Mthly rent (S$ / sq ft ) 11.15 11.30 11.45 11.55 11.50 11.15 10.70 10.40 10.40 10.50 10.65 10.80 Q-o-Q Change 3.2% 1.3% 1.3% 0.9% -0.4% -3.0% -4.0% -2.8% 0% 1.0% 1.4% 0.5% S$
Slide 64: Demand and Supply in Frankfurt Office and its Two Submarkets
Demand and Supply in Frankfurt Office and its Two Submarkets (%) (‘000 sq m) Frankfurt Office 800 15 600 10 400 7.5 5 200 0 0 2015 2016 2017 2018 2019 2020 2021 New Supply ('000 sqm) Demand ('000 sqm) Vacancy rate (%) (%) (%) (‘000 sq m) Banking District (‘000 sq m) Airport Office District 240 15.0
Slide 65: Rental Range in Frankfurt
Rental Range in Frankfurt Rental range by submarket (€ / square metre / month) Frankfurt West City CBD C B 45.50 45.50 Westend Gallileo D 35.40 Banking District 27.00 21.57 22.00 19.75 A5 (%) 18.00 B43 Niederrad South 7.00 MAC A3 Frankfurt Total Banking District Airport District Region D Region A A
Slide 66: Sydney CBD: Improving Market and Demand Sentiment
Sydney CBD: Improving Market and Demand Sentiment Sydney CBD Sydney CBD Office Rents Net Supply/Net Absorption ('000 sq m) 120 10% Net Effective Rent (A$/sq m/annum) 100 9.2% 9% 1,000 80 8% 900 60 7% 800 40 700 6% 20 600 5% 0 500 4% -20 400 3% -40 300 -60 2% 200 -80 1% 100 -100 0% 0 1Q 2017 2Q 2017
Slide 67: North Sydney CBD: New Supply to Rejuvenate CBD and Demand to Pick Up
North Sydney CBD: New Supply to Rejuvenate CBD and Demand to Pick Up North Sydney CBD North Sydney CBD Office Rents Net Supply/Net Absorption ('000 sq m) 120 18% Net Effective Rent (A$/sq m/annum) 100 16.4% 16% 1,000 80 14% 900 60 12% 800 700 40 10% 600 20 8% 500 0 6% 400 300 -20 4% 200 -40 2% 100 -
Slide 68: The End
The End For enquiries, please contact: Ms Ho Mei Peng, Head, Investor Relations Direct: (65) 6713 3668 | Email: ho.meipeng@capitaland.com CapitaLand Integrated Commercial Trust Management Limited (http://www.cict.com.sg) 168 Robinson Road, #25-00 Capital Tower, Singapore 068912 Tel: (65) 6713 2888 |
Slide 69: Additional Information
Additional Information CapitaSpring, Singapore
Slide 70: Well-located Properties Across Singapore
Well-located Properties Across Singapore Integrated Developments Office 1 CapitaSpring (45.0%) 1 Asia Square Tower 2 2 Funan 2 CapitaGreen 3 Raffles City Singapore 3 Capital Tower 4 Plaza Singapura 4 Six Battery Road 5 The Atrium@Orchard 5 21 Collyer Quay Retail 1 Bedok Mall 2 Bugis+ 3 Bugis Junctio
Slide 71: Exposure to Germany's Office Market with Strategically Located Properties
Exposure to Germany’s Office Market with 2 Strategically Located Properties in Frankfurt Airport Office District and Banking District Excellent connectivity between Frankfurt airport and Frankfurt city centre via a comprehensive transportation infrastructure network Close proximity between 1 Frankfu
Slide 72: Proposed Acquisition of Sydney Assets
Proposed Acquisition of Sydney Assets 1 North Sydney CBD 3 3 1 100 Arthur Street ► 290m or 5-min walk to North Sydney Train Station 101 Miller Street and ► 500m or 7-min walk to the upcoming Victoria Cross Metro Greenwood Plaza Station to be completed in 2024 ► Direct access to Sydney’s major ► Dire
Slide 73: Retail Valuations
Retail Valuations Valuation Valuation Valuation Cap Rate Cap Rate Variance as at 31 Dec 21 as at 31 Dec 20 as at 31 Dec 21 as at 31 Dec 21 as at 31 Dec 20 S$ million S$ million S$ million S$ per sq ft % % % NLA Westgate 1,091.0 1,087.0 4.0 0.4 2,667 4.50 4.50 Bugis Junction 1,088.0 1,087.0 1.0 0.1 2
Slide 74: Office Valuations
Office Valuations Valuation Valuation Valuation Cap Rate Cap Rate Variance as at 31 Dec 21 as at 31 Dec 20 as at 31 Dec 21 as at 31 Dec 21 as at 31 Dec 20 S$ million S$ million S$ million % S$ per sq ft NLA % % Asia Square Tower 2 2,225.0 2,128.0 97.0 4.6 2,855 3.40 3.45 CapitaGreen 1,657.0 1,611.0
Slide 75: Integrated Development Valuations
Integrated Development Valuations Valuation Valuation Valuation Cap Rate Cap Rate Variance as at 31 Dec 21 as at 31 Dec 20 as at 31 Dec 21 as at 31 Dec 21 as at 31 Dec 20 S$ million S$ million S$ million % S$ per sq ft NLA % % Retail: 4.70 Retail: 4.70 Raffles City Singapore 3,072.0(1) 3,179.0 (107.
CapitaLand Integrated Commercial Trust — FY2021 Earnings Presentation on 6ix