Works will begin in 3Q2026 and are expected to be completed in 4Q2027, announced CapitaLand Integrated Commercial Trust (CICT) on Feb 6.
The ninth floor currently houses an auditorium, flexible working spaces and a branch of the Fitness First chain gym, which underwent a $1.65 million renovation in 2016. City & Country understands that the Fitness First gym and the existing auditorium will not be affected by the asset enhancement initiative (AEI).
CICT will lease the reconfigured space on the ninth floor to TOUCH Community Services under a partnership via the Urban Redevelopment Authority’s Community/Sports Facilities Scheme (CSFS) to establish the first “workplace mental wellness centre” in the central business district.
Introduced in 2003, the CSFS allows owners of “highly accessible commercial developments” to surpass their maximum permissible gross floor area (GFA) by dedicating space to community or sports uses.
See also: CICT's 2HFY2025 DPU up 9.4% to 5.96 cents; full-year payout at 11.58 cents
TOUCH Community Services will establish the centre in partnership with CapitaLand Hope Foundation, the philanthropic arm of CapitaLand Group, according to presentation slides shown at the release of CICT’s results for 2HFY2025 ended Dec 31, 2026.
On the ground floor, the upcoming “urban plaza” retail pavilion will boast some 7,750 sq ft of space, according to CICT.
Current tenants on the ground floor of Capital Tower include Japanese restaurant and bar En Dining and modern Singaporean restaurant Hathaway, which moved from Dempsey at the start of 2025.
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Capital Tower was completed in 2000 and originally planned as POSB Bank’s headquarters. The building sits on a site with a 99-year lease with effect from Jan 1, 1996.
Officially opened in May 2001, CICT acquired the 254m-tall building in 2004 for $793.9 million. Capital Tower was valued at $1.471 billion at end-2025, up 0.5% y-o-y.
According to CICT’s website, Capital Tower has 30 tenants. With 732,800 sq ft of net lettable area, the building’s major tenants by gross rental income are CapitaLand Investment, GIC and TikTok.
CICT posted 2HFY2025 distribution per unit (DPU) of 5.96 cents, 9.4% higher y-o-y, driven by a combination of contributions from ION Orchard, step-up acquisition of CapitaSpring’s commercial component, stronger performance from existing properties and lower interest expenses.
This brings CICT's full-year distribution to 11.58 cents, up 6.4%.
In 2HFY2025, CICT’s gross revenue rose by 4.7% y-o-y to $831.5 million. Correspondingly, CICT’s 2HFY2025 net property income grew 6.8% y-o-y to $609.9 million.
CICT’s portfolio property value rose by 5.2% y-o-y to $27.4 billion, based on independent valuations as at Dec 31, 2025. The uplift was largely due to the better performance of the Singapore portfolio and the step-up acquisition of CapitaSpring’s commercial component.
Photo: CapitaLand Integrated Commercial Trust
