CapitaCommercial Trust (CCT), Singapore’s first listed commercial REIT with a market capitalisation of $4.3 billion, says distributable income of $221.0 million for the financial year ended 31 December 2010 (FY 2010).

This is 11.3% above the same period last year.

FY 2010 estimated distribution per unit (DPU) of 7.83 cents is a 10.9% year-on-year increase from FY 2009 DPU of 7.06 cents.

For the financial period 1 October 2010 to 31 December 2010 (4Q 2010), a distributable income of $54.7 million was achieved. 4Q 2010 estimated DPU of 1.94 cents is 3.2% above 4Q 2009 DPU of 1.88 cents.

The estimated DPU for financial period 1 July 2010 to 31 December 2010 (2H 2010) is 3.93 cents, which is 5.4% above the same period last year. The books closure date is on Friday, 28 January 2011.

Unitholders can expect to receive this payout on Monday, 28 February 2011. Based on the closing price of $1.51 per unit on 18 January 2011, CCT’s distribution yield is 5.2%.

An independent valuation records the value of the Trust’s investment properties to be $5,475.4 million as at 31 December 2010. This translates to a $227.8 million net fair value gain. The valuation has excluded Starhub Centre which was divested on 16 September 2010. The total asset size of the Trust as at end-December 2010 is $6.2 billion. The net asset value per unit after adjusting for the 2H 2010 distributable income to unitholders, is $1.47.

Approximately 60% of the new Grade A office supply to be completed in 2011 has already been pre- leased. Given that new office supply will decrease sharply from 2012, and that global economic recovery is expected to spur office demand, there are prospects for moderate rental growth in 2011.