CICT Wins S$1.5 Billion Hougang Central Mixed-Use Site to Boost Singapore Portfolio

CapitaLand Integrated Commercial Trust ( (SG:C38U) ) has provided an update.

CapitaLand Integrated Commercial Trust has secured, via a consortium structure, the tender for a new 99-year mixed-use commercial and residential site at Hougang Central from Singapore’s Housing and Development Board for approximately S$1.5 billion, with CICT’s Commercial Trust to fully develop and own the roughly 300,000 square feet commercial component at an expected development cost of about S$1.1 billion and projected yield on cost above 5%, targeted for completion around 2030/2031. The transaction deepens CICT’s exposure to the stable Singapore market, supports its strategy of growing through development, and strengthens its positioning as a leading vehicle for investors seeking exposure to Singapore’s commercial real estate, potentially enhancing long-term value for its stakeholders through a sizable new suburban commercial hub.

The most recent analyst rating on (SG:C38U) stock is a Buy with a S$2.59 price target. To see the full list of analyst forecasts on CapitaLand Integrated Commercial Trust stock, see the SG:C38U Stock Forecast page.

More about CapitaLand Integrated Commercial Trust

CapitaLand Integrated Commercial Trust (CICT) is a Singapore-based real estate investment trust focused on integrated commercial properties, including retail and office assets. Positioned as a proxy for Singapore’s commercial real estate market, CICT pursues a Singapore-centric strategy with an emphasis on value creation through development-led growth.

Average Trading Volume: 23,228,552

Technical Sentiment Signal: Buy

Current Market Cap: S$18.5B

For an in-depth examination of C38U stock, go to TipRanks’ Overview page.