CapitaMall Trust net property income up 4.8%

It achieved NPI of S$418.2m for the whole of 2011.

CapitaMall Trust Management Limited, the manager of CapitaMall Trust, said Distribution per unit for FY2011 was 9.37 cents, compared to FY2010 DPU of 9.24 cents.

“The better performance in FY2011 compared with FY2010 was mainly due to contributions from Clarke Quay and Iluma which were acquired on 1 July 2010 and 1 April 2011 respectively, as well as rental increases from new leases and renewal of existing leases,” said the announcement.

On 29 February 2012, Unitholders can expect to receive their distribution of 1.28 cents per unit for the period 10 November to 31 December 2011. An advanced distribution of 1.02 cents per unit for the period 1 October to 9 November 2011 has already been paid to Unitholders on 6 January 2012.

Mr James Koh Cher Siang, Chairman of CMTML, said, “We renewed 503 leases with a positive rental reversion of 6.4% and achieved a 6.3% year-on-year increase in tenant sales in our malls.” He said the improved performance was underpinned by Singapore’s low unemployment rate, healthy domestic consumption and record-breaking visitor arrivals.