The managers of CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) announced on September 4 that the long-stop date in the implementation agreement has been extended to November 30, from September 30.

On January 22, CMT and CCT proposed a merger to create a diversified commercial real estate investment trust (REIT) to be named CapitaLand Integrated Commercial Trust (CICT).

The merged entity will make it the largest REIT in Singapore and the third largest in Asia Pacific.

On August 31, the Singapore Exchange (SGX) granted approval in-principle to CMT to list up to 2.78 billion new units as part consideration for the merger.

Units in CMT and CCT closed flat at $1.96 and $1.68 respectively on September 3.