CapitaLand reported earnings of $922.2 million for the 1HFY2021 ended June, 9.5 times higher than the $96.6 million recorded in the first half of the previous year, driven mainly by the economic recovery in the group’s core markets of Singapore and China.

Revenue for 1HFY2021 increased by 34.7% y-o-y to $2.73 billion. Collectively, Singapore and China accounted for 77% of CapitaLand’s revenue. In terms of asset class, investment properties comprising office, retail, business park, logistics and industrial, as well as lodging properties, which are recurring in nature, accounted for 69.0% of total revenue. 

Operating PATMI for 1HFY2021 rose 66% y-o-y to $433.6 million, mainly attributed to transactional fee income from CapitaLand’s listed REITs and unlisted funds, lower rental rebates granted to tenants, and higher contribution from development projects. 

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