CapitaLand Investment (9CI) Q3 2026 TU earnings summary

Executive summary

• YTD Sep 2026 fee-related revenue rose 15% YoY to S$1,035M, led by growth in Listed and Private Funds Management.

• Continued capital raising, deployment and portfolio recycling amid market uncertainty: S$4.3B raised, S$9.6B deployed and S$5.7B divested from 1 Jan to 3 Nov 2026.

• Commercial and Lodging Management operating expertise supported asset performance and fund management growth.

Financial highlights

• YTD Sep 2026 total revenue was S$1.5B; fee business represented 63% and investment business 37% of revenue, excluding Corporate & Others.

• REIB revenue declined 23% YoY, reflecting no contributions following divestments and deconsolidation, partly offset by One iPark development-for-sale assets.

• Fee-related revenue included S$8M of performance fees and a S$26M proportionate share of SC Capital Partners’ fees in YTD Sep 2026.

Outlook and guidance

• Planned listing of CapitaLand Commercial C-REIT II by end-2026, subject to market conditions, is intended to broaden access to domestic capital.

• Priorities include scaling Listed and Private Funds, growing recurring earnings and monetising China assets through C-REITs, P-REITs, RMB Master Funds and third-party sales.

• Lodging pipeline reached about 68,300 rooms YTD Sep 2026; c.11,700 rooms were signed and c.5,600 opened during the period.