As at 2020 Second Quarter Financial Results (23 July 2020)
CapitaLand Commercial Trust (CCT) is the first and largest office REIT in Singapore, listed on 11 May 2004. It has ownership/interest in 8 properties in Singapore and 2 in Germany worth S$10.9 billion as at 30 Jun 2020.
| Gross rental income (by sector) | Percentage |
| Office | 81% |
| Retail | 10% |
| Hotel & Convention Centre | 9% |
| Gross rental income (by geographical location) | Percentage |
| Singapore | 92% |
| Germany | 8% |
| Metrics | 2Q 2020 | 1Q 2020 |
| Gearing Ratio (Aggregate Leverage) | 36.4% | 35.5% |
| Weighted Average Debt to Maturity (Average Term to Maturity) | 3.4 years | 3.5 years |
| Average Cost of Debt (p.a.) | 2.2% | 2.3% |
| Occupancy Rate | 95.2% | 95.1% |
| Weighted Average Lease Expiry (by NLA) | 5.7 years | 5.8 years |
| Top 10 tenants (gross rental income) | 38% | 37% |
| Top tenant (gross rental income) | 9% | 8% |
| 2Q 2020 | 2Q 2019 | 1H 2020 | 1H 2019 | |
| Metrics | S$ mil | S$ mil | S$ mil | S$ mil |
| Gross Revenue | 92.8 | 101.0 | 196.4 | 200.7 |
| Property operating expenses | (22.0) | (22.6) | (45.3) | (42.6) |
| Net Property Income | 70.8 | 78.4 | 151.1 | 158.2 |
| Distributable Income | 65.6 | 82.4 | 129.3 | 165.2 |
| DPU | 1.69c | 2.20c | 3.34c | 4.40c |
PORTFOLIO
SINGAPORE
| Property | NPI (%) | Occupancy 2Q 2020 | Occupancy 1Q 2020 | Cap rate |
| Asia Square Tower 2 | 20 | 97.2 | 96.4 | 3.45 |
| CapitaGreen | 18 | 96.9 | 96.9 | 3.95 |
| Capital Tower | 13 | 100.0 | 100.0 | 3.55 |
| Six Battery Road | 9 | 78.7 | 78.5 | 3.45 |
| 21 Collyer Quay | 4 | 100.0 | 100.0 | 3.45 |
| Raffles City Singapore (60%) | 22 | 94.6 | 95.6 | 3.95 (O) 4.70 (R) 4.75 (H) |
| One George Street (50%) | 5 | 100.0 | 100.0 | 3.55 |
| CapitaSpring (45%) | – | – | – | – |
For Cap rate, (O) = Office, (R) = Retail, (H) = Hotel
| Property | Valuation ($m) Jun-20 | Valuation ($m) Dec-19 | Leasehold expiry |
| Asia Square Tower 2 | 2,134.0 | 2,186.0 | 2 Mar 2107 (land lot only) |
| CapitaGreen | 1,618.0 | 1,646.0 | 31 Mar 2073 |
| Capital Tower | 1,389.0 | 1,394.0 | 31 Dec 2094 |
| Six Battery Road | 1,414.0 | 1,438.0 | 19 Apr 2825 |
| 21 Collyer Quay | 465.5 | 466.1 | 18 Dec 2849 |
| Raffles City Singapore (60%) | 1,959.6 | 2,030.4 | 15 Jul 2078 |
| One George Street (50%) | 561.0 | 572.0 | 21 Jan 2102 |
| CapitaSpring (45%) | 466.7 | 477.9 | 31 Jan 2081 |
GERMANY
| Property | NPI (%) | Occupancy 2Q 2020 | Occupancy 1Q 2020 | Cap rate |
| Gallileo, Frankfurt (94.9% interest) | 5 | 100.0 | 100.0 | – |
| Main Airport Center, Frankfurt (94.9% interest) | 4 | 92.2 | 92.2 | – |
| Property | Valuation ($m) Jun-20 | Valuation ($m) Dec-19 | Leasehold expiry |
| Gallileo, Frankfurt (94.9% interest) | 534.3 | 527.6 | Freehold |
| Main Airport Center, Frankfurt (94.9% interest) | 387.7 | 385.2 | Freehold |
Theory of Constraints 
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