Operations Review CICT’s operations review is categorised into three main sections: Portfolio, Retail and Office. The operating metrics and sector trends are presented, incorporating the retail and office components of integrated developments unless stated otherwise. The Retail section focuses on the Singapore portfolio, while assets in Australia and Germany are primarily covered under the Office section. In Singapore, CICT acquired a downtown retail property, ION Orchard (50.0% interest) on 30 October 2024 and divested an office property, 21 Collyer Quay on 11 November 2024. Gallileo, an office property in Frankfurt, Germany has been undergoing an asset enhancement initiative (AEI) from February 2024 with the progressive completion expected in 2H 2025. All information provided is as at 31 December 2024. PORTFOLIO Portfolio: Diversified Revenue Streams CICT’s diversified portfolio, spanning retail, office, and integrated developments, generated growth and stability through property market cycles. Singapore assets accounted for 94.7% of the financial year’s gross revenue, with the remaining contribution split between the Australia portfolio (3.4%) and Germany portfolio (1.9%). Portfolio: Committed Occupancy CICT maintained a high committed occupancy across its portfolio and asset classes, driven by proactive asset and lease management efforts. In 2024, CICT signed over 2.2 million square feet of new and renewal leases across the portfolio, including the leases committed for Gallileo in 2024 of about 430,700 sq ft which are largely contributed by the European Central Bank. Additionally, the Singapore portfolio achieved a tenant retention rate of 84.5% and 81.9% for the retail and office portfolio respectively. COMMITTED OCCUPANCY (%) 1 Excludes the AEI areas in IMM Building. 2 Includes ION Orchard. 3 Excludes Gallileo, Frankfurt which is undergoing AEI. 4 Excludes 21 Collyer Quay. 31 Dec 2023 31 Dec 2023 31 Dec 2023 31 Dec 2023 98.5 96.7 98.5 97.3 Retail Office Integrated Development Portfolio 31 Dec 2024 31 Dec 2024 31 Dec 2024 31 Dec 2024 99.3¹,² 94.83 ,4 98.9 96.71,2,3,4 CICT Portfolio Retail Office Integrated Development CBD Office 28.5% Suburban Retail 27.9% Downtown Retail 25.9% Hotels & Convention Centre 6.6% Singapore Office2 5.8% Australia Office 3.4% Germany Office 1.9% Singapore 94.7% Australia 3.4% Germany 1.9% CONTRIBUTION TO GROSS REVENUE BY ASSET CLASS 1 Based on FY 2024 gross revenue and excludes joint ventures. 2 Comprises office revenue contribution from Funan, Raffles City Singapore and The Atrium@ Orchard. $1,586.3 MILLION1 35 Annual Report 2024
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