CapitaLand Investment (CLI) has reported a 7% y-o-y increase in total revenue for the 9MFY2025 ended Sept 30 of $1,568 million, in its 3QFY2025 business update.
Of this, fee-related revenue (FRR) grew to $882 million driven by higher event-driven fees from listed funds and contributions from new funds, while real estate investment revenue came in 12% y-o-y lower at $753 million due to deconsolidation of CapitaLand Ascott Trust (CLAS) and divested assets.
For the first nine months of 2025, CLI raised $3.7 billion in equity by listed and private funds. Private funds achieved a $2.1 billion in fundraising, up 31% y-o-y, with progress on the 2nd and 3rd series underway with Ascott Lodging II, Asia Credit II and India Logistics.
Listed funds raised $1.6 billion in total equity to fund strategic acquisitions and debt repayments.
CLI’s lodging management FRR grew 5% y-o-y to $259 million for the nine months ended Sept, with 13,500 units signed across 64 properties y-t-d. The group saw seven properties signed in Europe, with multiple openings delivered and underway — this includes lyf Gambetta Paris, among others.
The lodging management business saw a 2% y-o-y growth in revenue per available unit (RevPAU) underpinned by higher occupancy and higher average daily rates.
See also: UOB reports lower 3QFY2025 earnings after making 'pre-emptive' provisions
On its commercial management, FRR rose slightly to $282 million.
As at end Sept, CLI has $6.4 billion in debt headroom, with a net debt / equity at 0.43 times. The group’s interest coverage ratio stands at 3.8 times, and average debt maturity at 3.2 years.
In September, CLI saw the successful listing of CapitaLand Commercial C-REIT (CLCR) which opened at RMB6.84, 20% above its IPO price. It raised a total equity of RMB2/3 billion, a 7% increase from the initial estimate.
Shares in CLI closed flat at $2.65 on Nov 6.
