CapitaLand Integrated Commercial Trust - Annual Report 2021

Notes to the Financial Statements YEAR ENDED 31 DECEMBER 2021 33 COMMITMENTS Group Trust 2021 2020 2021 2020 $’000 $’000 $’000 $’000 Capital commitments – contracted but not provided for 65,630 116,434 7,228 28,530 On 3 December 2021 and 23 December 2021, the Manager announced the proposed acquisitions of 66 Goulburn Street and 100 Arthur Street and 50.0% interest in 101-103 Miller Street and Greenwood Plaza, Sydney, Australia respectively (the “Proposed Acquisitions”). The total acquisition outlay for the Proposed Acquisitions approximates $821.8 million. The Proposed Acquisitions are expected to be completed in first quarter of 2022, subject to the fulfilment of certain conditions precedent, which include the receipt of approval from the relevant authority. Operating lease rental receivable The Group leases out its investment properties. The Group has classified these leases as operating leases, because they do not transfer substantially all of the risks and rewards incidental to the ownership of the assets. Rental income from investment properties recognised by the Group in FY 2021 was $1,180,743,000 (2020: $671,141,000). The following table sets out a maturity analysis of lease payments, showing the undiscounted lease payments to be received after the reporting date. Group 2021 2020 $’000 $’000 Less than one year 1,057,955 1,111,991 One to two years 775,761 767,269 Two to three years 480,174 476,583 Three to four years 290,040 244,377 Four to five years 208,166 177,800 More than five years 1,355,374 872,996 4,167,470 3,651,016 CapitaLand Integrated Commercial Trust 316