CapitaLand Integrated Commercial Trust : CICT And Consortium Awarded Hougang Central Site For Landmark Mixed-Use Development

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For immediate release NEWS RELEASE CICT and Consortium awarded Hougang Central site for landmark mixed-use development CICT will develop and own 100% of the commercial component Expands CICT's retail footprint into Singapore's northeast region Singapore, 14 January 2026 - CapitaLand Integrated Commercial Trust (CICT) is pleased to announce that the consortium comprising CICT, CapitaLand Development (CLD), and UOL consortium (UOL) (the Consortium), has been awarded the tender for the Hougang Central Government Land Sales (GLS) site for approximately S$1.5 billion or S$1,179 per square foot (sq ft) per plot ratio. This marks a significant milestone for CICT as it reinforces its foothold in its core market of Singapore, while expanding its retail footprint into Singapore's northeast region. Under the joint development structure, CICT will develop and own 100% of the commercial component. CLD and UOL, in a 50:50 joint venture, will develop the residential component for sale, combining their strong track records in high-quality developments. The project also draws on CapitaLand Group's established expertise in delivering large-scale integrated mixed-use developments, supported by CapitaLand Investment's best-in-class commercial management capabilities that have consistently driven strong operational performance. Mr Tan Choon Siang, CEO and Executive Director of the manager of CICT, said: "This move strengthens CICT's portfolio exposure in Singapore, aligning with our value creation strategy and maintaining a Singapore-centric focus. It further cements CICT's position as the proxy for commercial real estate in Singapore. This investment presents an opportunity to expand our retail footprint in Singapore where well-located suburban malls at major transport nodes are tightly held and rarely available, while establishing a strategic foothold in the northeast region. Growing via development is one of our strategic levers to create value. By participating at the development phase, we gain an attractive entry yield with an expected yield on cost of over 5%1, which compares favourably with recent transactions of operating assets in the market. Importantly, this proactive approach allows us to shape the mall's design, positioning, and leasing strategy from the outset, unlocking Hougang's untapped potential given its relatively low private retail space per capita and sizeable population." "We continue to evaluate opportunities with discipline, focusing on portfolio fit, project attributes, scale, growth potential, and funding considerations. This approach reinforces CICT's resilience and positions us to capture long-term sustainable growth," added Mr Tan. ‌1 Based on the valuer's estimated net income, assuming completion of the commercial component and taking into consideration the estimated development cost of the commercial component. 1 A vibrant mixed-use development in the heart of Hougang As the first GLS parcel in the Hougang area since 2019, this development is a transformative milestone for the precinct. With approximately 300,000 sq ft of net lettable area for retail and lifestyle concepts, the development will house the largest mall in Hougang, serving as a key anchor for the precinct's next phase of growth. Hougang ranks among Singapore's most populous precincts, with nearly 230,000 residents, placing it in the top 10 of the 55 residential zones 2 . In addition, strong household density and connectivity from sizeable and mature neighbouring precincts such as Kovan, Punggol, Sengkang and Serangoon provide a stable, recurring base of consumer demand. With private retail space per capita in Hougang at 2.8 sq ft, significantly below the national average of 11.4 sq f t 3 , the area presents untapped potential, supporting the development's long-term prospects. CLD and UOL will further enhance this catchment by introducing approximately 830 residential units to the mixed-use development. Leveraging the combined expertise of CICT, CLD and UOL, the Consortium will create a vibrant mixed-use development that is seamlessly integrated with Hougang MRT station, the new Hougang bus interchange and a new town plaza. The major civic hub will feature a sheltered public event space and diverse F&B offerings that enhance community vibrancy and placemaking. With direct connectivity to the North-East Line and a planned link to the Cross Island Line by 2030, the site is poised to become a key transport node. The development will also benefit from nearby amenities such as Punggol Community Club, Hougang Sports Centre, and Punggol Park. Several established primary schools are also located within 1 km and 2 km of the development. Project financing As project costs will be incurred progressively over the development timeline, CICT will adopt a holistic approach to assess funding needs. This includes evaluating the most efficient mix of debt and other financing options to maintain a strong balance sheet and prudent gearing levels. CICT has ample financial flexibility and sufficient resources to fund the project through debt if required, while continuing to uphold its commitment to disciplined capital management and sustainable returns for unitholders. Site and development details Overall Development Location Hougang Avenue 10 / Hougang Central Land use Mixed-use development comprising a commercial and residential development integrated with a bus interchange Site area 504,820 sq ft Plot ratio 2.5 Tenure 99-year leasehold Successful tender price S$1.5 billion Commercial Component Estimated Net Lettable Area of Commercial Component ~300,000 sq ft ‌2 Based on population statistics from Department of Statistics Singapore. ‌3 Based on retail space data from Urban Redevelopment Authority, and population data from Department of Statistics Singapore. Total Development Cost S$1.1 billion Yield on Cost Over 5%4 Target Completion 2030 / 2031 About CapitaLand Integrated Commercial Trust ( www.cict.com.sg ) CapitaLand Integrated Commercial Trust (CICT) is the first and largest real estate investment trust (REIT) listed on Singapore Exchange Securities Trading Limited (SGX-ST) with a market capitalisation of S$18.2 billion as at 31 December 2025. It debuted on SGX-ST as CapitaLand Mall Trust in July 2002 and was renamed CICT in November 2020 following the merger with CapitaLand Commercial Trust. CICT owns and invests in quality income-producing assets primarily used for commercial (including retail and/or office) purpose, located predominantly in Singapore. As the largest proxy for Singapore commercial real estate, CICT's portfolio comprises 21 properties in Singapore, two properties in Frankfurt, Germany, and three properties in Sydney, Australia with a total property value of S$27.0 billion based on valuations of its proportionate interests in the portfolio as at 31 December 2024 and CapitaSpring's 100% interest, excluding the serviced residence component of CapitaSpring which was divested on 30 May 2025. CICT is managed by CapitaLand Integrated Commercial Trust Management Limited, a wholly owned subsidiary of CapitaLand Investment Limited, a leading global real asset manager with a strong Asia foothold. About CapitaLand Investment Limited ( www.capitalandinvest.com ) Headquartered and listed in Singapore in 2021, CapitaLand Investment Limited (CLI) is a leading global real asset manager with a strong Asia foothold. As at 5 November 2025, CLI had S$120 billion of funds under management. CLI holds stakes in eight listed real estate investment trusts and business trusts and a suite of private real asset vehicles that invest in demographics, disruption and digitalisation-themed strategies. Its diversified real asset classes include retail, office, lodging, industrial, logistics, business parks, wellness, self-storage, data centres and private credit. CLI aims to scale its fund management, lodging management and commercial management businesses globally and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand Group's development arm. CLI is committed to growing in a responsible manner, delivering long-term economic value and contributing to the environmental and social well-being of its communities Issued by: CapitaLand Integrated Commercial Trust Management Limited (Company registration no. 200106159R) For queries, please contact: Analyst contact Allison Chen Senior Manager, Investor Relations DID: (65) 6713 1502 Email: [email protected] Media contact Genevieve Chung Senior Manager, Group Communications DID: (65) 6713 3858 Email: [email protected] ‌4 Based on the valuer's estimated net income, assuming completion of the commercial component and taking into consideration the estimated development cost of the commercial component. Important Notice This release may contain forward-looking statements. Actual future performance and results may differ materially from those expressed in forward-looking statements due to several risks, uncertainties and assumptions. Representative examples include (without limitation) general industry and economic conditions, interest rate trends, cost of capital, availability of capital and real estate properties, competition from other developments or companies, shifts in customer demands and expected levels of occupancy rate, rental income, charge out collections, changes in operating expenses (including salaries, benefits, training and property expenses), governmental and public policy changes and continued availability of financing in the amounts and terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management regarding future events. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this release. Neither CapitaLand Integrated Commercial Trust Management Limited, as manager of CapitaLand Integrated Commercial Trust ("CICT", and the manager of CICT, "Manager") nor any of its affiliates, advisers or representatives shall have any liability whatsoever (negligence or otherwise) for any loss howsoever arising, directly or indirectly, from any use, reliance or distribution of this release or its contents or otherwise arising in connection with this release. The past performance of CICT is not indicative of future performance. The listing of the units in CICT (the "Units") on the Singapore Exchange Securities Trading Limited (the "SGX-ST") does not guarantee a liquid market for the Units. The value of the Units and income derived may fall or rise. The Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in the Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed on the SGX-ST. It is intended that holders of the Units may only deal in their Units through trading on the SGX-ST. This release is for information only and does not constitute an invitation or offer to acquire, purchase, or subscribe for, the Units.

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