Financial Review Gross revenue for FY 2024 was S$1,586.3 million, an increase of S$26.4 million or 1.7% from FY 2023. The increase was mainly due to improved performance from the existing properties, partially offset by the absence of revenue contribution from Gallileo due to commencement of the asset enhancement initiative (AEI) from February 2024 and divestment of 21 Collyer Quay in November 2024. Net property income (NPI) for FY 2024 was S$1,153.5 million, an increase of S$37.6 million or 3.4% from FY 2023 mainly due to higher revenue from the existing properties and lower property management reimbursements under the new property management agreement and lower utilities expense. Property Gross Revenue (S$ million) FY 2023 FY 2024 Retail Bedok Mall 55.7 58.1 Bugis Junction 81.2 83.7 CQ @ Clarke Quay 20.6 30.0 IMM Building 94.0 89.4 Junction 8 59.4 61.0 Lot One Shoppers’ Mall 45.2 46.5 Tampines Mall 80.7 82.7 Westgate 72.6 75.5 Other Assets1 61.1 63.4 Subtotal 570.5 590.3 Office Asia Square Tower 2 104.5 105.3 CapitaGreen 91.3 95.0 Capital Tower 74.0 81.9 CapitaSky2 69.6 73.6 Six Battery Road 66.0 70.9 21 Collyer Quay3 30.3 26.3 Gallileo⁴ 28.3 N.M.5 Main Airport Center4 27.5 27.7 66 Goulburn Street 15.0 16.3 100 Arthur Street 15.4 13.5 Subtotal 521.9 513.3 Integrated Development Funan 62.4 64.6 Plaza Singapura 90.7 93.7 The Atrium@Orchard 49.7 51.3 Raffles City Singapore 238.6 248.3 101-103 Miller Street and Greenwood Plaza (50.0% interest) 26.1 24.7 Subtotal 467.5 482.7 Total 1,559.9 1,586.3 Figures may not add up due to rounding. 1 Bukit Panjang Plaza and Bugis+ are classified under Other Assets. 2 CICT owns 70.0% interest in CapitaSky. The reported figure is on 100% basis. 3 Divestment of 21 Collyer Quay was completed on 11 November 2024. 4 CICT owns 94.9% interest in Gallileo and Main Airport Center. The reported figure is on 100% basis. Gallileo commenced AEI from February 2024. 5 Not meaningful as Gallileo is undergoing AEI works. 28 CapitaLand Integrated Commercial Trust
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