The $7.58 million transaction comprises a renewal of tenancy of the existing VM premises at levels 9 and 11 of Raffles City Tower from February 2023 to February 2026, as well as a new lease for an adjacent unit on level 9 for a period from October 2022 to February 2026.
Out of the $7.58 million, $5.31 million will be for the renewal and $2.27 million for the new lease.
CICT says in a release that the VM tenancy benefits the Reit as it improves the occupancy rate at Raffles City Tower, and the rent would add to CICT’s overall income.
The other transaction is a $660,000 lease agreement with Eu Yan Sang Integrative Health, for renewing its lease on level 2 of Junction 8 from August 2022 to August 2025.
See also: SGX gives approval-in-principle to FHT to delist
Finally, the third transaction is a $350,000 project management agreement with Capitaland Development for the addition and alteration works for five and a half office floors at Six Battery Road over 18 months from July 2022.
Shares of CICT closed at $2.19, four cents higher or up 1.86% compared to its previous close.
