118 CapitaLand Integrated Commercial Trust Notes to the financial statements Year ended 31 December 2024 1 GENERAL (continued) 1.1 Property management fees (continued) (iii) Pursuant to the New PMA and the Old PMA, property management fees to the Office Property Manager are charged at 3.00% per annum of net property income of the properties. The property management fees are payable monthly in arrears. 1.2 Marketing fees (i) Pursuant to the New PMA, in respect of marketing services provided by the Retail Property Manager for the leases pertaining to the retail premises in the retail buildings as well as the retail premises of the office buildings (which may include premises in the properties managed by the Office Property Manager pursuant to the New PMA), the marketing fees are charged as follows: (a) In respect of new tenancies: • 0.5 month’s gross rental for securing a tenancy up to 2 years; • 1 month’s gross rental for securing a tenancy of 2 years to less than 5 years; • 2 months’ gross rental for securing a tenancy of more than 5 years. (b) In respect of renewal of existing tenancies: • 0.25 month’s gross rental for securing a tenancy up to 2 years; • 0.5 month’s gross rental for securing a tenancy of 2 years to less than 5 years; • 0.5 month’s gross rental for securing a tenancy of more than 5 years. (ii) Pursuant to the New PMA, in respect of marketing services provided by the Office Property Manager for the leases pertaining to the office premises in the office buildings as well as the office premises in the retail buildings (which may include premises in the properties managed by the Retail Property Manager pursuant to the New PMA), the marketing fees are charged as follows: (a) in respect of new tenancies: • 0.5 month’s gross rental for securing a tenancy up to 2 years; • 1.2 month’s gross rental for securing a tenancy of 2 years to less than 5 years; • 2 months’ gross rental for securing a tenancy of more than 5 years. (b) in respect of renewal of existing tenancies: • 0.25 month’s gross rental for securing a tenancy up to 2 years; • 0.5 month’s gross rental for securing a tenancy of 2 years to less than 5 years; • 1 month’s gross rental for securing a tenancy of more than 5 years. (iii) Under the old PMA with the Office Property Manager, in respect of marketing services provided by the Office Property Manager for the leases pertaining to the office premises in the office buildings, the marketing fees are charged as follows: (a) in respect of new tenancies: • 0.5 month’s gross rental for securing a tenancy up to 2 years; • 1 month’s gross rental for securing a tenancy of 2 years to less than 5 years; • 2 months’ gross rental for securing a tenancy of more than 5 years.
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