CapitaLand China Trust Reports a 40.1% DPU Rise in H1 2021
July 29, 2021 – CapitaLand China Trust announced that its distribution per unit (DPU) hit 4.24 cents in the first six months of the year, rising by 40.1% from the 3.02 cents in the same period last year.
Mr Tan Tze Wooi, CEO of CLCTML, said: “As China’s economic recovery continues to firm, the country’s GDP expanded 12.7%4 while total retail sales grew 23%4 for 1H 2021. In view of effective pandemic control and rising vaccination rates in China, further normalisation of the country’s economic activities is expected, which will lead to the expansion of consumer demand and business investments. With a portfolio strategically aligned to China’s economic focus on domestic consumption and innovation to drive greater self-sufficiency, CLCT is well- positioned to ride the country’s growth over the long term.”
“Post mandate expansion, we have seized new opportunities to position CLCT as the proxy for growth in China’s future economy. Gearing for a new phase of expansion, we are actively looking to add quality assets, with a focus on new economy asset classes such as business parks, logistics, data centre and industrial properties in the near term. We will tap opportunities from both our sponsor, as well as third parties to diversify and grow our portfolio mix across asset classes.”
“Further, we will unlock value by divesting non-core assets to recycle capital and improve the resilience of our portfolio. In 1H 2021, we completed the divestment of CapitaMall Saihan and CapitaMall Minzhongleyuan. We remain focused in executing our strategy on acquisitive growth and strengthening portfolio composition to extend ourleadership as Singapore’s largest multi-asset China-focused REIT.”
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