OCCUPANCY COST
CMT’s portfolio occupancy cost remained healthy at 17.6% in 2014, which was in line with our peers
in Australia, Europe and the United States.
Occupancy Cost
1
of CMT Portfolio by Financial Year
(%)
15.8
2014
3
2013
2
17.6
1 Occupancy cost is defined as a ratio of gross rental (inclusive of service charge, advertising and promotional charge as well
as gross turnover rent) to tenants’ sales.
2 Portfolio excludes JCube, Bugis+, The Atrium@Orchard, Bugis Junction and Westgate for 2013. On comparable mall basis,
excluding Bugis Junction and Westgate, the occupancy cost was 16.9% for 2013.
3 Portfolio excludes Bugis Junction and Westgate for 2014.
Comparison of Occupancy Cost
(%)
18.4
17.6
17.2
15.0
14.2
13.4
11.7
Scentre Group
(Australia &
New Zealand)
CMT
(Singapore)
Westfield
Corporation
(United States
& Europe)
Unibail-Rodamco
(Europe)
General Growth
Properties
(United States)
Simon Property
Group
(United States)
Novion
Property
Group
(Australia)
Sources: Data publicly disclosed as at 30 September 2014 (General Growth Properties) and 31 December 2014 (Scentre Group,
CMT, Novion Property Group, Westfield Corporation, Unibail-Rodamco and Simon Property Group).
Operations Review
66 | CapitaMall Trust Annual Report 2014
