AU8U.SI
SGX50SESCapitaLand China Trust
Real Estate · REIT - Retail · Singapore
CapitaLand China Trust (CLCT) is Singapore's largest China-focused real estate investment trust (REIT). CLCT's portfolio comprises eight shopping malls, five business park properties and four logistics park properties. Its total property value is 4.2 billion US dollars based on valuations as at 31 December 2025. The geographically diversified portfolio has a total gross floor area of approximately 1.7 million square meters, located across 11 leading Chinese cities. CLCT was listed on the Singapore Exchange Securities Trading Limited (SGX-ST) on 8 December 2006, and established with the objective of investing on a long-term basis in a diversified portfolio of income-producing real estate and real estate-related assets in mainland China, Hong Kong and Macau that are used primarily for retail, office and industrial purposes (including business parks, logistics facilities, data centres and integrated developments). CLCT is managed by CapitaLand China Trust Management Limited, a wholly owned subsidiary of Singapore-listed CapitaLand Investment Limited, a leading global real asset manager with a strong Asia foothold. CapitaLand China Trust was established on October 23, 2006 and incorporated in Singapore.
www.clct.com.sg ↗Profitability shows a net margin of -1.8% and return on equity of 0.2%. Leverage is high at 8.1× net debt/EBITDA. Revenue grew -14.3% year-on-year. It yields 7.7% in dividends. The mean analyst target of SGD0.70 sits 8.5% above the current price (Hold, 4 analysts).
business model
CapitaLand China Trust is a Singapore-listed REIT investing in income-producing real estate in China, earning rental income from a diversified portfolio. Originally a pure retail-mall trust (formerly CapitaLand Retail China Trust), it has diversified into business/office parks and logistics assets. It is sponsored and managed by CapitaLand Investment, with returns driven by occupancy, rental reversions and tenant sales in Chinese cities.
revenue segments
Revenue is split across three property types: retail shopping malls (the largest segment), business parks/office, and logistics/new-economy assets. Its properties are located in major Chinese cities such as Beijing, Shanghai, Guangzhou, Chengdu and others, with income tied to Chinese consumption and corporate tenant demand.
key dependencies
It depends on Chinese domestic consumption and retail footfall, office and business-park leasing demand, sponsor CapitaLand Investment for management and pipeline, the RMB exchange rate, and Chinese property valuations and financing conditions. Local government policy and economic growth are significant drivers.
competitors
Competes for investor capital with other China- and Asia-focused Singapore REITs such as Sasseur REIT, BHG Retail REIT and Mapletree Pan Asia Commercial Trust, and for tenants and assets with domestic Chinese mall operators and landlords.
moat
Its advantages are CapitaLand's established China operating platform, brand and mall-management expertise, portfolio scale across tier-one and tier-two cities, and diversification beyond retail into business parks and logistics. Deep local relationships support tenant retention and acquisitions.
risks
Key risks are China's uneven consumption recovery and property-sector stress, RMB weakness reducing Singapore-dollar distributions, asset devaluations, elevated interest and refinancing costs, and geopolitical and regulatory uncertainty affecting Chinese real estate.
Financials & metrics
as of 04 Jul 2026Price is closer to the low end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
Tap any metric for an explanation.● provider● computedN/A not available from source
Income-statement history isn't available for this security.
Dividends
This company does not currently pay a dividend.
Analyst assessment
as of 04 Jul 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.