CapitaLand China Trust (CLCT) just spilled the beans on their 1Q 2025 numbers, and let me tell ya, it ain’t all sunshine and rainbows. Net property income? We’re talking RMB 292.5 million, down 6.6% from the same time last year. Revenue dipped for the retail and business park spots, though logistics parks threw ’em a bit of a bone.
So, throw out some funky one-offs like a business park tenant pulling a vanishing act and some supermarket facelifts here and there, and we’re looking at a 4% drop from last year. Ouch, right?
Now, let’s chat retail. Revenue slid down 2.7% ’cause rents at CapitaMall Xinnan took a hit. But hey, occupancy’s holding steady at 97.7%—so close to that almost perfect 98.2% from just a quarter ago. Oh, and they snagged a +0.5% rental bump, which isn’t too shabby.
It’s one of those “could be worse, I guess” kinda situations.
